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Q-Cells stops investment in German thin film start-up
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As part of its cost management program, Q-Cells has stopped investing in thin-film solar start-up CSG Solar AG. The Crystalline Silicon on Glass (CSG) technologist raised €24 million in 2005 to commercialise the technology with funding from Apax Funds and Good Energies as well as Q-Cells. Q-Cells CEO, Anton Milner said the company would ‘exit’ CSG Solar during its quarterly conference call with financial analysts.
CSG Solar has originally planned an annual production of 25MW in 2006. The company actually started production in April, 2007 and had a capacity of 13MW in 2008.
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