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news digest ♦ Power Electronics


an office in Tokyo, selling its solar cells, multi crystalline solar modules Q.PRO and Q.BASE and thin-film solar modules Q.SMART. With the official start of QMC in early March, Q-Cells moves into offering complete PV packages to residential end customers.


The residential market makes up for 90% of the overall photovoltaic market in Japan with a forecast volume of 1 GWp in 2011. In March, Q-Cells installed its first residential system of 9.87 KWp in Osaka, which can make up for an electricity supply of 10.594 kWh or a reduction of 3.300 kg CO2 emissions per year.


The QMC already counts 30 members, offering entire solar systems kits, including solar modules, inverters, mounting systems, monitoring systems, cables and other components. The members of the QMC benefit from installation and sales trainings provided by Q-Cells with the overall aim, to offer highly secure and best quality system kits and services to Japanese customers.


“Our German Engineering solar modules match the quality of the components of our selected local partners and meet the high quality requirements of Japanese customers”, said Steffen Studeny, Managing Director of Q-Cells Japan. Q-Cells will put further effort in increasing the number of members of the QMC throughout 2011.


The main advantages of Q-Cells solar modules are their outstanding low-light behaviour, their flex- resistant frame as well as their resistance to high snow and wind loads up to 5.400 Pascal. This makes the systems also suitable for snowy areas and low irradiation regions in Japan.


Emcore raises $9.6 million in private share transaction


The capital raised from this transaction will allow Emcore to aggressively execute its business plan.


Emcore Corporation has entered into a Stock Purchase Agreement to sell an aggregate of 4,407,603 shares of its common stock to Shanghai Di Feng Investment Co. Ltd. in a private placement.


The transaction, which represents 4.9% of the total 174 www.compoundsemiconductor.net October 2011


number of shares outstanding, is expected to raise a total of approximately $9.6 million. The purchase price per share for the shares sold in such private placement will be $2.19, representing a discount of approximately 5.3% based on a 15-day volume- weighted average price as of April 25, 2011.


Emcore did not issue any warrants or pay any broker fees or commissions in connection with the transaction. The closing of the private placement is subject to the completion of customary closing conditions for transactions of this type, including approval of applicable Chinese government agencies.


The shares of common stock sold in this private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.


The Company has agreed to register the shares of common stock issued in this private placement pursuant to an S-1 registration statement to be filed by the Company with the Securities and Exchange Commission.


“This Common Stock Private Placement, combined with our line of credit with Wells Fargo and our improved operating performance, has substantially improved the Company’s liquidity position. The capital raised from this transaction will allow the Company to aggressively execute its business plan,” said Hong Q. Hou, President and CEO of Emcore.


Net proceeds from this sale of the shares will be primarily used for capital expenditures and increases in working capital necessary to support the growth in certain sectors of our business.


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