RIP: Nanosolar

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It’s official. Nanosolar, the CIGS thin-film solar panel aspirant which produced little but hype and broken promises, is done. Its assets are being auctioned off. This should come as no surprise to GTM readers. We reported on the layoffs, the skeleton crew, and the “restructuring for sale” back in April. If you speak CIGS, then [...]The post RIP: Nanosolar appeared first on Solar Feeds.

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  • peakbaggerpeakbagger Solar Expert Posts: 341 ✭✭✭
    #2
    Re: RIP: Nanosolar

    Definitely a train wreck from the beginning. They did have one major successful product which was media hype, no matter what happened they just kept cranking out PR to con folks into lending them more money. The scary part is that the folks behind this scam have already moved on other companies.
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  • BB.BB. Super Moderators, Administrators Posts: 33,001 admin
    #3
    Re: RIP: Nanosolar

    I have been at a few of those VC / Company board meetings before and other startup planning/data gathering from inside the company side--There is a weird split (in my humble opinion) between VC/Upper Management and actual day to day operations.

    There was a lot of work/talk based on 1-5 year plans and very little on what was going wrong right now going on. Had a very disconnected / academic quality about the whole thing (maybe too many MS/Phd's involved). 5 year engineering development budgets in a start-up just did not make very much sense.

    -Bill
    Near San Francisco California: 3.5kWatt Grid Tied Solar power system+small backup genset
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  • ggunnggunn Solar Expert Posts: 1,973 ✭✭✭
    #4
    Re: RIP: Nanosolar
    peakbagger wrote: »
    Definitely a train wreck from the beginning. They did have one major successful product which was media hype, no matter what happened they just kept cranking out PR to con folks into lending them more money. The scary part is that the folks behind this scam have already moved on other companies.
    Please do not let there be US taxpayer backing for those loans! The industry does NOT need another Solyndra-like political football being tossed around!
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  • BB.BB. Super Moderators, Administrators Posts: 33,001 admin
    #5
    Re: RIP: Nanosolar

    Nothing I could find said they had US Government Loans/Investments... The total investment appears to have been ~$400 to $500 Millon USD.

    Here is a blog by the (I think) founding CEO (from 2002-2010?) and his side of the story:

    http://blog.rmartinr.com/

    -Bill
    Near San Francisco California: 3.5kWatt Grid Tied Solar power system+small backup genset
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  • ggunnggunn Solar Expert Posts: 1,973 ✭✭✭
    #6
    Re: RIP: Nanosolar
    BB. wrote: »
    Nothing I could find said they had US Government Loans/Investments... The total investment appears to have been ~$400 to $500 billion USD.
    Seriously? Half a trillion dollars? :D

    I'm betting you didn't mean to type "billion".
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  • BB.BB. Super Moderators, Administrators Posts: 33,001 admin
    #7
    Re: RIP: Nanosolar

    Nope--Intended to type Million dollars... :blush: (was thinking 1/2 billion... oh well).

    -Bill
    Near San Francisco California: 3.5kWatt Grid Tied Solar power system+small backup genset
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  • peakbaggerpeakbagger Solar Expert Posts: 341 ✭✭✭
    #8
    Re: RIP: Nanosolar

    No direct subsidies but I expect there were indirect subsidies floating around. Ultimately its a tax write off for most.
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