Solyndra, Inc., Fremont, Calif., today announced new solar photovoltaic(PV) system for the commercial rooftop market. Solyndra's PV system is designed to generate significantly more solar electricity on an annual basis from typical low-slope commercial rooftops with lower installation costs than conventional PV flat panel technologies. Commercial rooftops represent a vast, underutilized resource and huge opportunity for generating solar electricity. Since its founding in 2005, Solyndra has been developing technology and ramping manufacturing capacity to produce its proprietary thin-film PV system, which is based on the latest copper indium gallium selenide (CIGS) technology.

According to a report on Fortune magazine's Green Wombat blog, Solyndra has raised $600 million in funding from blue-chip private-equity firms such as Richard Branson’s (of Virgin Airlines fame) Virgin Green Fund and is already shipping its systems to fulfill $1.2 billion worth of multi-year contracts with customers in Europe and the United States.

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