Borrego Solar Systems has appointed Bill Bush as Chief Financial Officer (CFO). Previously, Bush served as the CFO of Solar Semiconductor. He will work to further develop the relationship between Borrego Solar and investor Walsin Lihwa, and work with Borrego’s commercial and public-sector customers on solar system financing. Walsin Lihwa recently formed a US$30 million Power-Purchase Agreement Fund (PPA), organized as Green Lake Capital LLC.
Climate Change Capital Private Equity, the €200 million fund dedicated to investments in clean technology companies, has led a convertible bond issue in Metallkraft, the Norwegian company that developed a patented process to recycle spent slurry used in cutting solar silicon wafers.
1366 Technologies has closed venture capital funding worth $5.15 million, bringing the total amount raised by the silicon photovoltaics developer to $17.55 million. The round was led by returning investors Polaris and North Bridge Venture Partners.
Trina Solar has signed an agreement with German systems integrator AE Photonics to supply 40MW of crystalline-silicon photovoltaic modules in 2010. The terms of the deal call for 20MW to be shipped during the first half of the year by the vertically integrated Chinese solar manufacturer, with agreed prices for the first quarter. First shipments began in January.
U.S. Patent number 7,585,349 has been assigned to the University of Washington, covering an invention by Younan Xia and Yougang Sun, which has been licensed exclusively to Cambrios in its specific field of use.
With one of the largest order backlogs amongst solar industry equipment suppliers GT Solar International reported fiscal third quarter revenue of US$173.6 million, compared with US$104.2 million in the second fiscal quarter and US$205.2 million in the third quarter of fiscal year 2009. The company raised FY2010 guidance to the upper end of its previous range with revenue expectation of US$500 million to US$550 million.
Emcore has entered into a share purchase agreement to create a joint venture with Tangshan Caofeidian Investment Corporation (TCIC) where TCIC will purchase a 60% interest in Emcore's Fiber Optics. The JV, Emcore Fiber Optics, Limited (EFO) will be registered in Hong Kong.
After significant polysilicon and wafer price declines in 2009, MEMC executives have become more upbeat about demand and price stability entering the first quarter of 2010 and beyond. In a conference call to discuss fourth quarter results, the company noted that capacity utilization of silicon wafer production was at approximately 80%, with a demand recovery underway in the semiconductor industry, enabling a firming in prices to that sector. In solar, price declines were said to have moderated and the company was now shipping wafers to 10 of the top 25 PV manufacturers, compared to having made shipments to only 2 solar customers at the beginning of 2009.
Dow Corning has reported consolidated net income of US$270.5 million for the fourth quarter of 2009, an increase of 57% from net income of $172.6 million reported in the fourth quarter of 2008.
