Solar Thin Films completes acquisition of Atlantis Solar shares

Solar Thin Films has completed its acquisition of 100% of the issued and outstanding share of Atlantis Solar and will retain Atlantis as a wholly owned subsidiary. Atlantis is led by James Molinaro, who is the former head of Akrion Systems.

Operations are expected to start this fall for Atlantis’ solar panel assembly and manufacturing facility in the U.S. The facility will produce both crystalline-silicon and amorphous-silicon thin-film modules. The company has already received an MOU for a potential purchase of up to 80MW of crystalline modules, which holds prospective gross revenue of $100 million over the next three years.