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Stion Gets $130 Million Investment, Forms Partnership With Avaco

Stion, a maker of thin-film solar modules, got a $130 million equity investment led by Avaco Co. and said it will form a “strategic partnership” with the South Korean company to develop new equipment.

Stion is also establishing a Korean subsidiary to build a module factory to serve Asian and European markets, the San Jose, California-based company said in a Business Wire release today. It will initially fund the unit with $35 million.