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AQT Secures $10 Million to Fuel Next Stage of Growth
New Funding to Support First Production Facility in Silicon Valley Applied Quantum Technology (AQT), a leading developer of lowcost CIGS (copper-indium-gallium- diselenide) thin-film solar cells, today announced that it has secured $10 million in venture funding. The latest investment from the original investor syndicate and additional undisclosed investors will be used to build out AQT’s first manufacturing line, to be located in Silicon Valley, and to aggressively expand the company’s staff in anticipation of full-scale production over the next 12 months. This funding round, which has completed its initial close, raises the total amount of funds that AQT has attracted to date to almost $15 million.
In a related release, AQT and Intevac, a leading provider of high productivity manufacturing equipment, announced a business agreement in which Intevac will provide AQT with equipment for its production needs. In April, AQT will build out an initial 15MW production line at its new Silicon Valley development and manufacturing location to fulfill current customer orders due by yearend and plans aggressive growth thereafter.
“We have unique CIGS process technology, a dedicated group of investors, a seasoned team of executives and a core syndicate of established partners,” said Michael Bartholomeusz, CEO, AQT. “This latest investment is a testament to the enormous progress we have made in the last 12 months across our company and will fuel substantial milestones over the next four quarters.” AQT is leveraging the manufacturing technologies and platforms that have been field-proven in the hard disk drive industry. AQT’s CIGS technology, dubbed CIGS 2.0, allows for continuous in-line manufacturing, which simplifies and streamlines the manufacturing process, resulting in the highest projected capital utilization efficiency in the industry, while minimizing costs.
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JA Solar Holdings Co, raise expectations
JA Solar Raises Shipment Guidance for the First Quarter 2010 JA Solar Holdings Co., Ltd has announced revised guidance for its first quarter ended March 31, 2010. Based on current customer orders and product deliveries, JA Solar now projects first quarter shipments to exceed 265MW, above the high-end of its previous guidance of 215MW to 225MW given on Feb. 11, 2010.
“During the first quarter, we saw robust demand from existing and new customers,” said Dr. Peng Fang, CEO of JA Solar. “By streamlining the company’s existing solar cell manufacturing facility, JA Solar is able to achieve higher than expected production to meet strong customer orders. We also won several new European customers during the quarter, which further diversified our customer base and provides better visibility for the full year.”
“We are making progress in winning new customers globally, and are seeing strong demand for our high quality solar products from major solar markets worldwide, including Germany, China, U.S., Italy, South Korea, Spain, France, the Czech Republic and India. We are also seeing growth in emerging solar markets, such as Australia, Canada, and Japan,” he said. The company expects to report its first quarter results in mid-May, and plans to provide guidance for the second quarter of 2010 and updated full-year 2010 guidance at that time.
SOURCE JA Solar Holdings Co., Ltd.
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