Amtech Systems has announced its preliminary results for Q1 of the new fiscal year, including record-breaking revenue and pre-sale figures. Q1, which ended on December 31, delivered revenue of US$52 million, bookings of approximately US$134 million, and an order backlog of US$172 million.
5N Plus, a producer of high-purity metals, compounds and wafers for electronic applications, has converted its US$3 million debenture with Sylarus Technologies into a 66.67% majority interest. 5N has also agreed to provide additional funding of US$766,000 in the form of secured debt, to enable the repayment of short-term debt contracted by Sylarus.
JinkoSolar has won the right to supply Premier Power Renewable Energy with 1.3MW of multi-crystalline solar modules during Q1 2011. The agreement sees JinkoSolar make significant inroads into the U.S. solar supply market for the first time and Premier Power add another high-profile name to its list of suppliers.
LDK Solar has paid US$33 million for a 70% stake in PV solutions developer Solar Power. LDK's involvement will help with the development and management of Solar Power’s project pipeline, which primarily consists of utility-scale power plants and commercial and industrial generation systems.
On January 1, 2011, Oregon’s Department of Energy put new rules into effect, which have allowed for SolarCity to offer its first residential solar lease in the State. As of the first of this year, Oregon residents who lease their solar systems are able to receive the residential tax credit (RETC), which was previously only offered to customers who had purchased their system. Since the credits cannot be passed onto SolarCity, the company will allow its customers to postpone the remaining system cost that is not covered by the lease payments until the customer receives their RETC.
Led by Austin Venture, Lincoln Renewable Energy (LRE) has closed its most recent round of private funding at US$14 million. Aside from Austin Ventures, contributors also included private investors and LRE management and founding investors. Furthermore, Ken DeAngelis, general partner, and Clark Jernigan, venture partner, and both part of Austin Ventures, will become members of LRE’s board.
Plutonic Power and GE Energy Financial Services have agreed to buy three of First Solar’s power plants in Ontario, Canada. Permitting for the projects, which have a combined capacity of 50MW, is expected to take place this spring and construction scheduled to start in June.
NanoMarkets has published a new report claiming that novel encapsulation and substrate materials are the key to the long-term survival of organic photovoltaics (OPV) and dye-sensitized cell (DSC) photovoltaics. The report, titled 'Encapsulation and Flexible Substrates for Organic and Dye-Sensitized Photovoltaics', predicts that a US$1.3 billion encapsulation and substrate market will be possible by 2017, if manufacturers of these materials can offer products that will facilitate use of OPV and DSC technology into the building-integrated photovoltaics (BIPV) sector.
Ceradyne has completed its acquisition of VIOX, a specialty glass company based in Seattle, Washington. Over the past few years VIOX has seen around 70% of its sales come from solar glass products, which have been specifically formulated for polycrystalline silicon solar PV applications. Ceradyne bought VIOX with a US$27 million cash payment at closing, which also includes a post-closing adjustment in two months. Additionally, conditional payment of up to US$22 million may be paid if VIOX reaches certain sales diversification and earnings targets over a 30-month period after the closing.
LDK Solar, along with its polysilicon manufacturing subsidiary, has signed a definitive agreement with China Development Bank Capital Corporation, Excel Rise Holdings, Prosper East and an investment fund associated with another Chinese bank, where the investors will all subscribe to a collective US$240 million in series A redeemable convertible preferred shares of LDK Silicon & Chemical Technology. The wholly owned subsidiary of LDK Solar, contained in the Cayman Islands, will hold and operate LDK Solar’s polysilicon division once all PRC government approvals for foreign investments have been completed.
