November 09, 2009 | 0 Comments
California, United States [RenewableEnergyWorld.com] Applied Materials Inc. has acquired substantially all the assets, including the intellectual property, of Advent Solar Inc. for an undisclosed cash amount. Advent Solar is a developer of advanced technology for crystalline silicon (c-Si) PV technology. This acquisition is expected to complement Applied's portfolio of solar PV technologies and enhance its leadership in the c-Si equipment market.
"We expect to deliver systems that will enhance customers' c-Si roadmaps and accelerate the reduction in cost per watt of solar electricity." -- Dr. Mark Pinto, CTO & General Manager, Energy and Environmental Solutions Group
Advent Solar has been active in producing c-Si cells and modules, including technology for streamlining module assembly processes and advanced efficiency device architectures. The company, founded in 2002, is headquartered in Albuquerque, New Mexico.
After the close of this transaction, Advent Solar’s assets will be integrated with Applied’s Energy and Environmental Solutions Group.
“We believe the acquisition of Advent Solar will increase our opportunities to provide innovative solutions for reducing module production costs,” said Dr. Mark Pinto, chief technology officer and general manager of Applied’s Energy and Environmental Solutions Group. “Combining Advent Solar’s PV technology with Applied’s expertise in automated wafering and cell production equipment, we expect to deliver systems that will enhance customers’ c-Si roadmaps and accelerate the reduction in cost per watt of solar electricity.”