Solyndra inks $320M deal with roofing maker Carlisle

Fremont, Calif.-based Solyndra announced a $320 million deal to provide its thin-film solar tubes to a division of commercial roofing manufacturer Carlisle Construction Materials.

The multi-year agreement brings Solyndra's announced deals to-date to $1.52 billion. The company plans to manufacture the copper-indium-gallium-selenium (CIGS) tubes in Fremont and Milpitas, Calif.

Carlisle is currently installing a commercial-scale PV system on its manufacturing facility in Utah.

Earlier this year, Solyndra came out of stealth mode to reveal its entry into the solar race—long cylinders coated in thin-film material inside glass tubes, which line up inside aluminum frames (see Solyndra reveals thin-film solar tubes).

See Solyndra's technology here >>

Solyndra says the tubes allow the CIGS material to capture optimal sunlight for a longer period than traditional flat panels. Solyndra’s 180-watt-peak panels—each made up of 40 cylinders in a one-meter by two-meter aluminum frame—have an efficiency of 12 percent to 14
percent, the company says.

Carlisle Construction subsidiary Carlisle Energy Services plans to pair the tubes with its energy-efficient single-ply roofing systems. The Carlisle, Penn.-based company cited the tubes' easy installation by contractors and the pairing of the tubes with white reflective roofing as the reason for the deal. The companies are both part of Carlisle Companies (NYSE: CSL).

Solyndra CEO Chris Gronet said a reflective coating on the roof below the panel accounts for 20 percent of the system's output (see White roofs could lower global emissions).

Gronet has said Solyndra raised $600 million in equity from investors including the Virgin Green Fund, Madrone Capital Partners, RockPort Capital Partners, Argonaut Capital Partners, Redpoint Ventures, US Venture Partners and CMEA Ventures. It was reported last year that Solyndra raised $79 million (see Swiss cleantech € and ocean power). 

Solyndra isn’t the sole CIGS maker pulling in big venture backing. In the third quarter of 2008, thin-film solar makers pulled in $620 million, with the majority going to CIGS technology (see Cleantech investment breaks all-time record).

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