California-based Solyndra, a designer and manufacturer of photovoltaic energy systems, emerged from the self-imposed shadows of technology startup Monday. The company said after three years of development it has secured $1.2 billion in orders for its innovative solar-panel system.

Solyndra’s two largest customers are Solar capability, which has purchased $325 million worth of panels, and Phoenix Solar, which is taking delivery of $540 million.

The company additionally has secured $600 million in venture-capital funding from a variety of sources, including

Madrone Capital, Virgin Green Fund, Rockport Capital, Argonaut Ventures, RedPoint Ventures, CMEA Ventures, U.S. Venture Partners, and the Masdar Clean Tech Fund.

According to some sources, however, the recent credit crunch in the United States has slowed Solyndra’s efforts to land an additional $325 million. It is unclear to what extent the slowing credit market will hamper Solyndra’s product launch.

The Flat Solar Society

Despite the company’s low-profile development, it has generated […]

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