Solar power company to beef up its supply chain

Abound Solar is a Colorado-based company that produces high efficiency solar panels that are markedly less expensive than other models on the market. The company just received $110 million in a round of equity funding and it plans to use the money to augment its manufacturing capacity, effectively increasing the efficiency of its supply chain.

Abound Solar specializes in the production of cadmium telluride thin-film solar modules that are designed specifically for use in large-scale solar panel installations that tie directly into the electric grid. The panels have a lower cost structure than other models on the market and can cut business costs in the growing solar technology field.

The company asserts that it hopes to lower the costs associated with generating solar power and that it will use the funding to "expand manufacturing capacity at both its existing facility in Colorado and later at a second site in Indiana, which when completed will create 1,200 new manufacturing jobs."

Abound Solar has already started construction on a second manufacturing line at its current facility in Colorado and hopes to increase its manufacturing efficiency next year.