Pending the final approval from its board of directors, Day4Energy has entered an agreement in principle to purchase the German-based PV equipment company, ACI-ecotec. Day4 will attain 100% of ACI in all stock transaction of up to 10.8 million shares of Day4, subject to postclosing adjustment. In addition to the board’s approval, the acquirement of ACI rests in definitive documentation and all required consents and approvals – including that of the Toronto Stock Exchange.
“Technology and market development has been the focal point of our strategy since the company was founded in 2001,” said George Rubin, president of Day4. “Over the course of the last three years we have completed the industrial scale-up of our proprietary manufacturing process. We have also built a strong track record of superior field performance and quality behind the Day4 product brand. Today we have taken the next step towards making this next generation technology platform available to partners across the industry.
“ACI’s engineering and manufacturing system integration capabilities are critical to our ability to deliver our industry leading technology platform to the PV industry. What makes this acquisition particularly attractive is the level of interest ACI was able to generate among its customers during the test marketing of the Day4 manufacturing solution package and overall business proposition.”
Day4 says it will combine its technology with ACI’s specialized industry knowledge and equipment to be able to more readily offer its turnkey manufacturing technology solution for the production of PV cells and modules. Day4 will make more specific financial guidance available during its May 11 first-quarter earnings conference call. Both companies look to close the acquisition in the first half of this year.