News Article
Soitec Finalises Acquisition Of Soitec Solar GmbH, Formerly Concentrix Solar GmbH
Soitec, a manufacturer of semiconductor materials for the electronics and energy industries, has finalized its acquisition of 100% of Soitec Solar GmbH, formerly Concentrix Solar GmbH. Soitec exercised its rights over the remaining shares of Soitec Solar GmbH in compliance with the terms of the agreement signed in December 2009.
This announcement validates the strategy of the company in the solar power plant market. It also confirms Soitec's trust in Soitec Solar GmbH's founders and teams, as well in its various partners, who are fully associated with the company's first successes in this new activity.
Part of their successful collaboration engaged for the past two years in the context of a technical alliance concerning the development of solar cells and CPV systems, Soitec and the Fraunhofer Institute for Solar Energy Systems (ISE) are for instance developing a new generation of photovoltaic cells, the Smart Cell. This new cell is based on Soitec's disruptive technologies, which will enable CPV-system efficiencies to be increased significantly beyond current capabilities.
"As we complete the successful integration of this new solar activity, we are confirming our leadership strategy for the CPV market. Soitec Solar GmbH enables us to apply our materials engineering expertise to the development of high-performance photovoltaic systems at a competitive cost. Moreover, the synergies that we have in this field with our partners including Fraunhofer ISE and CEA-Leti are contributing to the rapid deployment of our innovations. These partnerships illustrate the advantages of public-private research collaboration to promote innovations as rapidly as possible by industrializing them," explained André-Jacques Auberton-Hervé, Soitec's president and CEO.
"We are very satisfied with the strategic and technical opportunities resulting from our alliance with Soitec, especially thanks to the pooled competencies and technologies of our teams. Soitec's ability to industrialize a disruptive technology and produce cost-competitive CPV systems has led to accelerated growth in our solar activities on an international scale," concluded Hansjoerg Lerchenmueller, Concentrix Solar GmbH's CEO and founder.
