Stion, a San Jose, Calif.-based manufacturer of thin-film solar panels designed for use in major applications including commercial/government, residential, utility and off-grid, has raised $70m in Series D funding.
The round was led by Venture Tech Alliance, with participation from Taiwan Semiconductor Manufacturing Co. and existing investors Khosla Ventures, Lightspeed Venture Partners, General Catalyst Partners and Braemar Energy Ventures.
This round brings the total amount the company has raised to date to $114.6m,
The new capital will enable Stion to begin a 100MW expansion of its San Jose factory.
According to a press release, as part of the expansion, the company expects to bring more than 500 direct and indirect jobs to the region in 2010 and 2011.