Abound Solar

About Abound Solar

Abound Solar, initially incorporated as AVA Solar in 2007, was a U.S.-based manufacturer focused on producing thin-film photovoltaic modules. The company was a spin-off from Colorado State University, founded by Dr. W.S. Sampath, Al Enzenroth, and Kurt Barth to commercialize a proprietary manufacturing process for cadmium telluride (CdTe) solar panels. The foundational technology, which Dr. Sampath began researching in the late 1980s, aimed to create a low-cost alternative to traditional silicon-based solar panels through a unique closed-space sublimation process.

The firm's business model was centered on the large-scale manufacturing and sale of these CdTe modules, targeting large commercial and utility-scale installations. The key value proposition was a lower manufacturing cost, with the company claiming its automated, in-line process could convert a sheet of glass into a solar panel in under two hours. Abound Solar secured significant financial backing, including over $200 million in private funding from investors like BP Ventures and a high-profile $400 million loan guarantee from the U.S. Department of Energy in 2010. This capital was intended to fund its production facility in Longmont, Colorado, and a planned new factory in Indiana.

Despite its promising technology and substantial funding, Abound Solar faced insurmountable challenges. The company struggled with production inefficiencies, as its manufacturing line was pieced together from various machines, leading to integration issues and bottlenecks. More critically, it could not compete with the aggressive pricing of Chinese solar panel manufacturers, which caused a dramatic fall in global solar module prices. Although Abound made technical progress, improving its panel efficiency and power, its products reportedly underperformed initial expectations. Faced with financial instability, the U.S. Department of Energy halted loan disbursements in 2011. Unable to secure a buyer or further funding, Abound Solar suspended operations, laid off its workforce, and filed for bankruptcy in July 2012.