The California-based solar start up Solyndra announced that it managed to find a new cheaper way of making solar panels which are also significantly better at producing energy. The mechanism involves glass tubes that deposit rows of cylindrical solar cells in a way that allows a better absorption of light throughout the daytime.

The new shape, with its aerodynamic construction, makes the panels easier to mount on roofs as they demand no anchor, and also provide far less wind resistance than the conventional panels.

The new technology has been developed over the past six months and the interest shown in its utility is considerable. Besides many other arrangements, the company already signed two major deals, a $327 million partnership with Arizona-based Solar Power Inc. and a $681 million deal with Germany-based Phoenix Solar AG.

“Solyndra’s system uniquely optimizes [photovoltaic] performance on commercial rooftops by converting more of the sunlight that strikes the total rooftop area into electricity,” explained founder and CEO Chris Gronet in a statement.

The company received more than $600 million in funding from its investors, which include Virgin Green Fund and Madrone Capital Partners, Rockport Capital Partners, U.S. Venture Partners, CMEA Ventures and Redpoint Ventures.

The solar market has recorded a significant boost over the past several years, and it is expected to blow up over the next five years. Solyndra managed to quickly make a name for itself in the short amount of time spent in the market. The company was founded in 2005 and shows no sign of slowing its pace.