Solibro AB Becomes Wholly Owned Subsidiary of Q-Cells SE
Source/Type: Reported News

Author: CompoundSemi News Staff

June 29, 2009... Q-Cells SE, a producer of silicon-based thin-film solar cells headquartered in Bitterfeld-Wolfen, Germany, has purchased the Swedish joint venture and CIGS technology company, Solibro AB. Q-Cells notes that currently, Solibro's modules achieve an average efficiency rating per module of around 10% with the peak values in excess of 11%. Solibro GmbH was formed as a joint venture by Q-Cells and Solibro AB at the end of 2006 to commercialize a CIGS thin- film technology developed at the University of Uppsala. Solibro GmbH will now become a fully consolidated, wholly owned subsidiary of Q-Cells SE rather than an investment carried at equity. Q-Cells will own 100 percent of Solibro AB stock after trading 3,988,170 shares of Q-Cells SE with Solibro GmbH and others of the pension fund, "6th Swedish National Pension Fund" for the shares of Solibro AB. 50 percent of the Q-Cells shares are subject to a lock-up period of 180 days.

"The potential of Solibro's thin-film modules lies in the combination of high efficiency ratings with extremely low costs per watt. After we successfully implemented this potential in mass production as well, Solibro became an integral component of Q-Cells' thin-film strategy," said Dr. Florian Holzapfel, member of the Executive Board of Q-Cells SE and Head of the New Technologies division. Q-Cells News Release

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