FREMONT, Calif., July 27, 2010 – Solyndra, Inc., a manufacturer of innovative cylindrical solar photovoltaic (PV) systems for commercial rooftops, today announced that Brian Harrison has joined the company as President and CEO and will be appointed to the Board of Directors. Since 2008, Mr. Harrison has served as President and CEO of Numonyx, B.V., a leading international flash memory company. Chris Gronet, Solyndra’s Founder and current CEO, will continue to serve the company in an executive capacity and as Chairman of the Board of Directors.
“A demonstrated leader of Brian’s caliber is an excellent addition to Solyndra’s existing management team,”said Dr. Gronet. “Brian’s strong understanding of sophisticated manufacturing operations, history of achieving significant product and manufacturing cost reductions, and experience in building an international sales and marketing organization make him the right person to lead our growth.”
Steve Mitchell, Managing Director of Argonaut Private Equity and a member of the Board of Directors said, “Brian has proven he can ramp operations while aggressively driving down costs in a very competitive global industry.”
Mr. Harrison said, “I am extremely excited about joining Solyndra. Solyndra’s rooftop photovoltaic system is highly differentiated, and the market opportunity for the company is tremendous. I look forward to leading Solyndra to be the pre-eminent solar system provider for commercial and industrial rooftops.”
Mr. Harrison joins Solyndra at a time of strong growth, with sales having doubled each year for the past two years and expected to climb to more than $400 million in 2011. The new Fab 2 facility in Fremont, California, is expected to go into production ahead of schedule this fall and will more than triple the company’s current output in the next year. Solyndra’s expanded output will allow the company to be cash flow positive from operations in 2011. The company has an aggressive, panel and mount cost reduction roadmap that enables a total system cost of goods sold of less than $2.00 per watt by 2013; a level which allows a system installed price competitive with retail electricity rates in key rooftop markets on a non-subsidized basis.
Mr. Harrison served as President and CEO of Numonyx, B.V. and Numonyx, Inc. since 2008. Prior to Numonyx, Mr. Harrison served as Vice President and General Manager of the Flash Memory Group of Intel Corporation, where he managed all flash memory businesses. Mr. Harrison’s career at Intel included roles as Vice President and General Manager of Intel Europe, Middle East, and Africa, where he was responsible for regional product sales and marketing, and General Manager of Fab/Sort Manufacturing, where he managed worldwide wafer production facilities.
Harrison has a bachelor’s degree in chemical engineering from Stanford University, and an MBA from Santa Clara University.