The Loveland, Colo., company announced on its Web site today that it ceased operations and intended to file for bankruptcy next week, laying off its 125 employees. Abound is another victim of the sharp decline in the price of solar modules.
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Craton Equity Partners led a $60 million Series E round for Bridgelux Inc., a developer and manufacturer of LED lighting technologies. A laundry list of existing and strategic investors also participated in the round, including VantagePoint Capital Partners, DCM, El Dorado Ventures, Novus Energy Partners, Invus Group, VTS, Harris & Harris Group and Passport Capital. The company said the infusion will help it bolster research and development efforts. David Asarnow, a principal at Craton Equity, will join the Bridgelux board as an observer.
Electric motorcycle manufacturer Zero Motorcycles has sealed a commitment for up to $26 million in new financing. Existing shareholder Invus LP led the round, which closed on March 3 with $17 million. An additional $9 million may be added over the next few months, the company said in a statement. Zero Motorcycles is based in Satan Cruz, Calif.
(Recent funding news based on Form D filings with the S.E.C.)
Narrative Science Inc., whose software is designed to automatically generate news stories, industry reports, headlines and other editorial content, has raised $5.65 million in new financing, according to a regulatory filing. Roger Lee, a general partner with Battery Ventures is listed among the company’s directors. Narratives Sciences is based in Evanston, Illinois.
Abound Solar, which is developing cadmium telluride, thin-film photovoltaic solar modules, has inked a $400 million loan guarantee from the U.S. Department of Energy. The company has also raised $110 million in equity financing, bringing the total equity raised to $260 million. Existing investors Invus Group, Bohemian Companies, DCM and Technology Partners participated in the new round. New investors BP Alternative Energy Ventures and West Hill Companies also participated. The funding will help Abound Solar expand its manufacturing capacity at sites in Colorado and Indiana.