Amonix

About Amonix

In 1989, long before solar became a mainstream buzzword, Vahan Garboushian and Sewang Yoon founded Amonix. Their goal was to pioneer concentrated photovoltaic (CPV) technology, a system that uses lenses to focus sunlight onto small, highly efficient solar cells. The company started developing large-scale CPV systems for the utility industry in 1990 and quickly made a name for itself, winning an R&D 100 award in 1994 for its solar cell performance. A key moment came in December 2009 when Amonix acquired Sunworks Solar LLC. This move brought in a new management team, with Sunworks' co-founder, Brian Robertson, taking over as CEO of Amonix. Shortly after, in March 2010, the company secured a major Series B funding round of $129 million from prominent investors including Kleiner Perkins Caufield & Byers and Goldman Sachs. Despite its technological advancements and significant funding, Amonix faced severe headwinds. The company struggled with intense competition from cheaper Chinese solar panels, which drove down prices globally. In 2012, Amonix made the difficult decision to shut down its large manufacturing plant in North Las Vegas only about a year after it opened, leading to hundreds of layoffs. This event was compounded by the tragic death of CEO Brian Robertson in a plane crash late the previous year. After a period of restructuring, the assets of Amonix were acquired by Arzon Solar, LLC in June 2014, marking the end of its journey as an independent pioneer in the CPV space.