Solar maker Stion follows TSMC deal with $70M and plan to create 500 jobs

Stealthy thin-film solar panel developer Stion announced yesterday that it has landed a partnership with the Taiwan Semiconductor Manufacturing Company (TSMC). Today, it’s keeping the good news rolling with announcements of $70 million in fourth-round capital and new plans to expand its San Jose, Calif. manufacturing facility in size and headcount.

As part of the deal with TSMC, the semiconductor giant has bought a 21 percent stake in Stion for $50 million — included in the $70 million provided partially by existing investors, including Khosla Ventures, Lightspeed Venture Partners, General Catalyst Partners and Braemar Energy Ventures. Venture Tech Alliance led this most recent round of funding.