California solar company gets $535 million loan guarantee

Solyndra Inc., a Fremont [Calif.] company that designs and manufactures photovoltaic systems, is getting the backing of Uncle Sam to expand its operations, adding as many as 3,000 jobs.

The U.S. Department of Energy says it will offer a $535 million loan guarantee to Solyndra, according to a Sept. 4 CVBT report.