Amtech to sell majority stake in ion implant subsidiary Kingstone Technology

July 24, 2015
Facebook
Twitter
LinkedIn
Reddit
Email

PV manufacturing equipment specialist Amtech Systems is selling the majority of its stake in subsidiary Kingstone Technology to China-based venture capital firm, Suzhou Zhuo Jing Investment Center for around US$13.6 million.

Amtech expects to receive approximately US$8 million for its shares and the repayment of a loan to Kingstone from Suzhou and a subsequent US$5.6 million for its exclusive sales and service rights for the ion implant tools by 31 March 2016.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Fokko Pentinga, chief executive of Amtech Systems said: “Successful development of our solar ion implant systems and related new customers during the solar market down cycle positioned us to enter into this transaction and monetise part of our ion implant research and development investment. We will continue to participate in the solar ion implant business with worldwide, non-exclusive, selling rights and minority ownership in the business.”

Subject to the conclusion of the deal, Amtech said it would hold a 15% stake in Kingstone. The company expects to use the proceeds on core activities. 

Kingstone Hong Kong will own 68.75% of the capital stock of Shanghai Kingstone and Suzhou will own 31.25%.

Several companies, including Applied Materials, have been developing volume production ion implant technology for advanced solar cells. However traction has been slow due to the recent three-year slump in capital expenditures by PV manufacturers due to chronic overcapacity. 

Both Amtech and Applied Materials have announced production-based purchase orders for the technology, which is focused on n-type mono and bifacial solar cells.

Lat year, Yingli Green touted it would adopt ion implant technology.

Read Next

October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
T1 Energy and Nextracker have agreed to use the latter’s steel module frames at the former’s new 5GW module manufacturing facility in Dallas.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.
October 16, 2025
Expanding the electrification of Europe’s energy sector, would be the 'main tool' to improve the EU’s energy security, according to Ember.
October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK