Arise Technologies has entered into multi-faceted agreements with Scheuten Solar for Arise to create a photovoltaic cell Technology Centre in Gelsenkirchen Germany, establishing a relationship with Scheuten as a potential PV cell customer and modules supplier. Arise intends to use the building as a Technology Centre with a pilot production line to commercialize the company’s high-efficiency PV cell technology.
Both companies have signed non-binding letters of intent whereby Scheuten intends to purchase PV cells from Arise, while Arise will purchase OEM modules from Scheuten.
On its side of the agreement, Arise has purchased the assets — including inventory — of the Scheuten PV cell manufacturing plant. It is the intention that the payment for the assets will be satisfied through pricing reductions on PV cells sold to Scheuten.
Arise will also employ all of the 55 people currently employed at the Gelsenkirchen plant, where the employees have agreed to work under the same terms as their existing employment agreement.
Vern Heinrichs, Arise’s President and Chief Executive Officer said, “This announcement is the first step of the next phase of our technology commercialization program and we expect that it will take a number of months to finalize the funding, partners, and other aspects required to ramp up this program.”
