Nanotechnology Now

Our NanoNews Digest Sponsors
Heifer International



Home > Press > Solar Thin Films, Inc. Announces Proposed Acquisition of 47% Equity Interest in Algatec Solar AG

Abstract:
Solar Thin Films, Inc. (OTCBB: SLTZ) today announced that it intends to acquire Algatec Equity Partners LP, which owns a 47% equity interest in the capital stock of Algatec Solar AG, a growing producer of silicon crystalline solar panels and modules. The stake in Algatec will be obtained in exchange for approximately 43.0 million shares of Solar Thin Films common stock; which number of shares are subject to adjustment based on an independent fairness opinion. Solar Thin Films is also continuing negotiations with the other Algatec stockholders to acquire the remaining 53% interest in the capital stock of Algatec.

Solar Thin Films, Inc. Announces Proposed Acquisition of 47% Equity Interest in Algatec Solar AG

New York, NY | Posted on February 1st, 2010

Headquartered in Prosen, Germany, Algatec sells its modules primarily to a number of solar companies, including modules used in power projects. The acquisition of the partnership and its equity in Algatec is subject to (i) execution of definitive exchange agreements, (ii) obtaining the requisite approvals and consents of the partners of the partnership, and (iii) receipt of a fairness opinion. Solar Thin Films anticipates that the acquisition of the partnership and its 47% equity interest in Algatec will be completed in approximately 30 days.

Algatec's revenues for 2009 are estimated to be USD $30,000,000, with an estimated EBITDA of USD $2,000,000. Algatec has advised Solar Thin Films that, based on its order backlog, Algatec believes that it can realistically achieve USD $70,000,000 in revenues and EBITDA of USD $8,400,000 in its fiscal year ending December 31, 2010. As a result of the material increase in anticipated orders, Algatec has invested significantly in upgrading its equipment and expanding its manufacturing facilities. This investment is expected to increase production capacity from 18MW in 2008 to approximately 95MW in 2010, enabling Algatec to better meet the anticipated increase in demand for its PV modules from its customers.

Forward-Looking Safe Harbor Statement

Statements in this news release regarding future financial and operating results, potential applications of the Company's technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements including: limited operating history, need for future capital, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports, including Forms 10-K, 10-Q, 8-K, and other forms filed with the Securities and Exchange Commission ("SEC").

These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties.

####

About Solar Thin Films
Solar Thin Films develops, manufactures and markets a complete line of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic ("PV") modules through its subsidiary Kraft Elecktronikai Zrt. based in Budapest, Hungary. The Company sells both "turnkey systems" and sub-systems to customers currently located in China, Spain and the United States and has produced equipment for installations in the US, Germany, Portugal, Taiwan, Greece and Spain. The Company believes that its line of thin-film photovoltaic manufacturing equipment positions it to take advantage of the rapidly growing demand for solar modules and an expected market shift towards "thin-film" PV modules as part of a cost effective, "clean technology" energy solution.

For more information, please click here

Contacts:

Phone contact:
+1-609-288-SLTN
+1-609-288-7586

Copyright © Solar Thin Films

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Researchers develop artificial building blocks of life March 8th, 2024

How surface roughness influences the adhesion of soft materials: Research team discovers universal mechanism that leads to adhesion hysteresis in soft materials March 8th, 2024

Two-dimensional bimetallic selenium-containing metal-organic frameworks and their calcinated derivatives as electrocatalysts for overall water splitting March 8th, 2024

Curcumin nanoemulsion is tested for treatment of intestinal inflammation: A formulation developed by Brazilian researchers proved effective in tests involving mice March 8th, 2024

Thin films

Understanding the mechanism of non-uniform formation of diamond film on tools: Paving the way to a dry process with less environmental impact March 24th, 2023

New study introduces the best graphite films: The work by Distinguished Professor Feng Ding at UNIST has been published in the October 2022 issue of Nature Nanotechnology November 4th, 2022

Thin-film, high-frequency antenna array offers new flexibility for wireless communications November 5th, 2021

Leibniz Prize winner Professor Dr. Oliver G. Schmidt moves to Chemnitz University of Technology: President Professor Dr. Gerd Strohmeier refers to an 'absolute top transfer' September 10th, 2021

Investments/IPO's/Splits

Daikin Industries becomes OCSiAl shareholder July 27th, 2021

180 Degree Capital Corp. Reports +14.2% Growth in Q1 2021, $10.60 Net Asset Value Per Share as of March 31, 2021, and Developments From Q2 2021 May 11th, 2021

INBRAIN Neuroelectronics raises over €14M to develop smart graphene-based neural implants for personalised therapies in brain disorders March 26th, 2021

180 Degree Capital Corp. Issues Second Open Letter to the Board and Shareholders of Enzo Biochem, Inc. March 26th, 2021

Announcements

What heat can tell us about battery chemistry: using the Peltier effect to study lithium-ion cells March 8th, 2024

Curcumin nanoemulsion is tested for treatment of intestinal inflammation: A formulation developed by Brazilian researchers proved effective in tests involving mice March 8th, 2024

The Access to Advanced Health Institute receives up to $12.7 million to develop novel nanoalum adjuvant formulation for better protection against tuberculosis and pandemic influenza March 8th, 2024

Nanoscale CL thermometry with lanthanide-doped heavy-metal oxide in TEM March 8th, 2024

Energy

Development of zinc oxide nanopagoda array photoelectrode: photoelectrochemical water-splitting hydrogen production January 12th, 2024

Shedding light on unique conduction mechanisms in a new type of perovskite oxide November 17th, 2023

Inverted perovskite solar cell breaks 25% efficiency record: Researchers improve cell efficiency using a combination of molecules to address different November 17th, 2023

The efficient perovskite cells with a structured anti-reflective layer – another step towards commercialization on a wider scale October 6th, 2023

Acquisitions/Mergers/Splits

The concept of creating «brain-on-chip» revealed: A team of scientists is working to create brain-like memristive systems providing the highest degree of adaptability for implementing compact and efficient neural interfaces, new-generation robotics, artificial intelligence, perso May 29th, 2020

180 Degree Capital Corp. Life Science Portfolio Company Enters Into Definitive Agreement to be Acquired May 6th, 2020

180 Degree Capital Corp.’s Portfolio Company, Synacor, Inc., Agrees to Merge with Qumu Corporation in All-Stock Transaction February 11th, 2020

Combination of Nanometrics and Rudolph Technologies to Create Onto Innovation October 16th, 2019

Solar/Photovoltaic

Development of zinc oxide nanopagoda array photoelectrode: photoelectrochemical water-splitting hydrogen production January 12th, 2024

Shedding light on unique conduction mechanisms in a new type of perovskite oxide November 17th, 2023

Inverted perovskite solar cell breaks 25% efficiency record: Researchers improve cell efficiency using a combination of molecules to address different November 17th, 2023

Charged “molecular beasts” the basis for new compounds: Researchers at Leipzig University use “aggressive” fragments of molecular ions for chemical synthesis November 3rd, 2023

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project