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HelioVolt has raised $108.0M across 2 funding rounds.
Key people at HelioVolt.
HelioVolt has raised $108.0M in total across 2 funding rounds.
HelioVolt develops and manufactures high-efficiency, low-cost Copper Indium Gallium (di)Selenide (CIGS) based thin-film solar modules. The company leverages its proprietary FASST® process, a reactive transfer printing technology, to apply photovoltaics directly onto various construction materials. This approach allows for the creation of next-generation solar modules designed for diverse applications.
The company was founded in 2001 by B.J. Stanbery, driven by the insight to commercialize this innovative FASST® process. This technology aimed to redefine the application of CIGS thin-film photovoltaics, offering a novel method for solar energy capture. The initial vision was to develop a manufacturing technique that could integrate solar cells directly into conventional building components.
HelioVolt's thin-film solar PV modules serve commercial rooftop, utility-scale ground mount, building-integrated photovoltaic (BIPV), and custom installations. The company’s long-term vision centers on driving solar innovation to power a sustainable world. It focuses on advancing its CIGS technology to contribute to global renewable energy adoption.
HelioVolt has raised $108.0M across 2 funding rounds. Most recently, it raised $100.0M Series B in August 2007.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2007 | $100M Series B | — | Greylock, Colin Bryant, Greg Papadopoulos, NEW Enterprise Associates, Workday | Announced |
| May 1, 2005 | $8M Series A | — | Greylock, Greg Papadopoulos, NEW Enterprise Associates, Workday | Announced |
HelioVolt has raised $108.0M in total across 2 funding rounds.
HelioVolt's investors include Greylock, Colin Bryant, Greg Papadopoulos, New Enterprise Associates, Workday.
Key people at HelioVolt.
HelioVolt is a renewable energy technology company specializing in thin-film solar photovoltaic (PV) modules based on Copper Indium Gallium (di)Selenide (CIGS) technology.[1][2][4] It produces high-efficiency, low-cost modules for commercial rooftops, utility-scale ground mounts, residential installations, building-integrated photovoltaics (BIPV), and custom applications, addressing the need for scalable, reliable distributed solar energy with superior energy production and environmental performance.[1][2][4][5] Based in Austin, Texas, in a 125,000 sqft LEED-certified facility, HelioVolt combines advanced manufacturing to achieve efficiencies over 11.7% (with demonstrated 12.3% production modules) while targeting manufacturing costs as low as $0.52/watt and capital costs of $0.36/watt at 1GW scale.[1][2][3][5]
The company serves commercial, utility, residential, and custom solar installers by solving key challenges in solar adoption: high costs, efficiency limitations in thin-film tech, and installation compatibility with existing tools.[2][4][5] Its growth momentum stems from disruptive vacuum and liquid CIGS processes, an extensive IP portfolio, and partnerships like NREL for roadmap advancements toward over 16% efficiencies.[3]
HelioVolt was founded in 2001 in Austin, Texas, to commercialize promising CIGS thin-film solar technology believed to offer superior efficiency and cost advantages in the industry.[1][3][6] The idea emerged from recognizing CIGS as one of the most exciting material combinations for photovoltaics, with the highest thin-film efficiencies and lowest potential manufacturing costs.[1][2][3] Early traction included developing a disruptive vacuum and liquid deposition process, demonstrating production modules at 12.3% efficiency and averages over 11.7%, alongside building a world-class research and manufacturing center.[1][3]
Pivotal moments involved assembling an experienced management team with solar industry backgrounds and collaborating with the National Renewable Energy Laboratory (NREL) to refine technology and IP, setting the stage for scalable production.[3] This foundation humanizes HelioVolt as a pioneer betting on U.S.-made innovation amid rising solar demand.
HelioVolt stands out in the thin-film solar market through these key strengths:
HelioVolt rides the global surge in distributed solar energy, fueled by demand for affordable, high-yield PV amid climate goals and energy transitions.[2][4][5] Its timing aligns with maturing thin-film tech, where CIGS addresses silicon's limitations in efficiency-cost tradeoffs, enabling rapid growth in rooftops and BIPV as grid constraints push decentralized power.[1][3] Market forces like falling solar costs, U.S. manufacturing incentives, and sustainability mandates favor its low-capex model and LEED practices.[1][2]
By influencing the ecosystem through IP innovation and NREL ties, HelioVolt accelerates thin-film adoption, challenging dominant crystalline silicon players and boosting American solar competitiveness in a market projected for exponential distributed generation.[3][6]
HelioVolt is poised to scale its CIGS modules as distributed solar dominates, leveraging efficiency roadmaps and cost targets to capture rooftop/utility shares.[3][5] Trends like AI-optimized energy systems, policy-driven reshoring, and extreme weather resilience will shape its path, potentially driving gigawatt production. Its influence may evolve from niche innovator to key supplier, amplifying U.S. solar independence—reinforcing its founding mission to redefine thin-film viability.[1][4]
