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Research / Discovery

CSU spinoff AVA Solar changes name to Abound Solar

March 16, 2009

CSU spinoff AVA Solar, a manufacturer of low-cost, thin-film photovoltaic (PV) solar panels, has unveiled its new brand name, Abound Solar, to demonstrate the company's commitment to providing an abundance of low-cost solar panels to solar integrators around the globe.

Fueled in part by enhanced federal support, including tax credits and loan guarantees, for renewable energy, the global solar industry is expected to continue to grow 30 percent annually for the foreseeable future, driving increased demand for cost-effective solar modules. Abound Solar is well-positioned to accelerate its evolution from a research and development company commercializing a new manufacturing process to a high-volume manufacturer of low-cost PV panels.

Abound Solar’s proprietary manufacturing technology was developed and incubated at Colorado State University over the last 15 years. Based upon its high-quality, low-cost manufacturing process, Abound Solar will enable its customers to reduce the cost of generating solar electricity to roughly the same cost as traditionally generated electricity. This technical success, coupled with support from the U.S. Department of Energy and approximately $150 million of private investment, has enabled the company to create nearly 200 local jobs and build a fully automated, state-of-the-art manufacturing facility in Longmont.

Change in company's look, focus

“We are excited about our evolution from AVA Solar to Abound Solar. Our new brand
identity represents a change in the company’s look, as well as our focus,” said Pascal Noronha, CEO, Abound Solar. “We believe we are well-positioned to address the growing demand for solar power, and we are focused on scaling to create a source of renewable, abundant and universally affordable energy.”

Even prior to officially entering commercial production of its solar panels, Abound Solar is signing supply contracts with leading global customers. In addition, the company has applied for a loan guarantee with the U.S. Department of Energy (DOE) to expand its current manufacturing facility and begin construction of a second, larger plant.

Abound Solar was founded in 2007 to commercialize an advanced process for
manufacturing thin-film photovoltaic modules. Built upon 15 years of development at Colorado State University, Abound Solar has developed a robust, commercial-scale, continuous process for producing solar PV modules at an industry-leading cost that can significantly reduce the cost of generating solar electricity.

Contact: Emily Wilmsen
Phone: (970) 491-2336