Wednesday, 28 September 2016
Last updated 17 hours ago
Nov 9 2009 | 9:16am ET
Applied Materials, Inc, a supplier of equipment and services to the solar photovoltaic (PV) industry, has acquired the assets of Advent Solar, a developer of advanced technology for crystalline silicon (c-Si) PVs, for an undisclosed amount.
This acquisition is expected to complement Applied’s portfolio of solar PV technologies and enhance its leadership in the c-Si equipment market.
Advent Solar has pioneered several innovations for 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.
“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, in a statement.
“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.”
After the close of this transaction, Advent Solar’s assets will be integrated with Applied’s Energy and Environmental Solutions Group.