By Austin Business Journal

HelioVolt Corp. has sold $8.5 million of a planned $10 million debt securities sale, according to a U.S. Securities and Exchange Commission filing on Friday.

The solar cell maker, founded in 2001, has raised more than $130 million in venture capital since its founding. The money revealed Friday will support its operations, according to the official disclosure. A total 18 investors participated in the recent debt sale.

HelioVolt operates a 125,000-square-foot manufacturing plant in Southeast Austin. Officials said last year it employed fewer than 100 workers, but declined to provide an exact number. It was expected to create 158 jobs by December 2010, but has since delayed those projections by two years.

Copyright 2011 American City Business Journals

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