BioSolar has advised that the production samples of its BioBacksheet technology have finished most of the Underwriter’s Laboratories (UL) material property tests and is on its way to receiving full UL certification. Tests on the product have included: material identification, partial discharge test and resistance to catching fire among other UL led testing. The last test, a measurement of relative thermal index (RTI) will soon be conducted.
Jean-Marc Gilson has been appointed as Avantor Performance Materials’ new chief executive officer. Gilson will work alongside the company’s executive chairman, Raj Gupta, and core leadership team, and be responsible for managing the company’s strategic development and future global direction.
Despite a short and chequered history, Hoku Materials polysilicon plant in Pocatello, Idaho could be in line for further funding, according to a strategic cooperation agreement signed between Baoding Tianwei Group and U.S. bank, Wells Fargo.
Elkem Silicon Materials (polysilicon) and Elkem Solar (solar wafers) are part of a business divesture plan of Norwegian conglomerate Orkla to primarily state-owned Chinese chemical firm, China National Bluestar. The US$2 billion all-cash transaction also includes Elkem’s aluminium and carbon’s businesses. Completion of the deal is expected during the first half of 2011.
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.
Daqo New Energy has revised its guidance for its 2010 fourth quarter, marking an improvement over what the company previously forecasted for the period that ended on December 31. Combining customer orders with product deliveries, Daqo New Energy approximates that its fourth-quarter shipments of polysilicon are between 930MT and 950MT, far above the 825-850MT the company previously predicted.
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.
GCL-Poly Energy Holdings and Solarfun Power Holdings have mutually entered into a long-term wafer and polysilicon supply contract where GCL-Poly will provide Solarfun with 2,500MW of wafer and polysilicon products from January 2011 until December 2015. Included in the contract signed between the two companies is a price adjustment mechanism.
Meyer Burger Technology has had an impressive few weeks scoring two big orders and has added a third order from a customer in Asia. The US$57.1 million (CHF55 million) deal will see MB Wafertec, a division of Meyer Burger, supply slicing, bricking and automated gluing systems while wafer inspection systems will be delivered by Hennecke Systems. Delivery is scheduled for 2011.
