First Solar, Inc. (NASDAQ: FSLR) has acquired RayTracker Inc., a tracking technology and photovoltaic (PV) balance-of-systems (BOS) firm that is an operating company of Idealab, a creator and operator of technology companies.
(January 7, 2010 – BUSINESS WIRE) — First Solar, Inc. (NASDAQ: FSLR) has acquired RayTracker Inc., a tracking technology and photovoltaic (PV) balance-of-systems (BOS) firm that is an operating company of Idealab, a creator and operator of technology companies. Terms of the deal were not disclosed.
RayTracker’s entire team will join First Solar’s Engineering, Procurement and Construction (EPC) group, bringing expertise in solar technology innovation, reliability engineering, advanced PV system modeling, software engineering, product development and high-volume manufacturing. RayTracker’s customers will be transitioned to First Solar.
“We are excited to join forces with First Solar, which shares our vision of reducing the levelized cost of solar electricity to that of fossil fuels,” said Mark Henderson, president of RayTracker. “From early on in our discussions with First Solar, it was very clear that there was great synergy between the capabilities and technologies of the two companies.” In advance of the acquisition by First Solar, technology developed by RayTracker includes its GC-Series single-axis trackers, its PV-Platform Software Toolset for system design and operation, wireless infrastructure technology, and other PV balance-of-system innovations.
First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. For more information about First Solar, please visit www.firstsolar.com.
RayTracker Inc. provides solar trackers, as well as for software and hardware to enable the lowest cost design, installation and operation of solar PV plants. Learn more at www.raytracker.com
Idealab’s mission is to create and operate pioneering technology companies. Additional information may be found at www.idealab.com.