Solar startup Stion raises $25M, but cuts costs, workers
Thin film solar startup Stion has both raised a new round of $25 million in funding, but also laid off some engineers and operations employees. According to a filing Stion has been looking to raise a $55 million round, and has closed on $25 million of that. Funding for solar manufacturing startups is rare in an age when large and small solar makers are going bankrupt due to an oversupply of low cost solar panels.
Interesting and exciting development. One can only hope that policy makers in and near the Toronto region and Ontario (even Canada) will institute innovative/creative policies that will produce a fertile market for solar/renewable energy investment. It is examples such as this that give us hope.
