Solar ♦ news digest
Masimo acquires Spire Semiconductor for $8.5 million
The foundry business division of Spire will now be able to focus on Masimo’s custom component requirements and accelerate technology advancements in non-invasive blood monitoring
Spire Corporation has completed the sale of most of the assets of Spire Semiconductor to Masimo Semiconductor for an aggregate consideration of $8.5 million. Spire Semiconductor is a foundry services business. “With the divestiture of our semiconductor business to Masimo, Spire has strengthened its financial position and can now more aggressively pursue opportunities in its solar and biomedical businesses,” says Roger G. Little, Chairman and Chief Executive Officer of Spire Corporation. “For the past several years, Masimo has been one of our largest customers and is an ideal strategic buyer for the business.” Joe Kiani, Masimo CEO and Chairman of the Board continues, “Spire Semiconductor is a very innovative company. We have been extremely impressed with their technology and the service they have provided to us as a customer. We plan to continue building on the proprietary technology base established by Spire Semiconductor. The acquisition will permit us to focus the operation on Masimo’s custom component requirements and accelerate technology advancements in our non-invasive blood monitoring products.”
The asset purchase agreement provided that the aggregate purchase price for the Semiconductor Business unit was $8.0 million plus the assumption of $500,000 in liabilities, with the cash portion of the purchase price being reduced by retained cash and liabilities assumed by Masimo in excess of $500,000. As a result, on the closing date, the Company received approximately $7.2 million in cash and Masimo assumed approximately $1.2 million in liabilities. Of the purchase price, approximately 10% of the cash portion was deposited into an indemnity escrow account for fifteen months. ThinkEquity LLC served as exclusive financial advisor to Spire Corporation.
SoloPower CIGS PV module
“Importantly, the cells were made in SoloPower’s San Jose manufacturing facility, so we know we have the systems in place to deliver high-efficiency, light-weight, flexible modules to our customers around the globe,” says SoloPower CEO Tim Harris.
“This benchmark is a testament to our technology team and to our commitment to continuously pushing the envelope in power and performance, while reducing costs for our customers.”
“SoloPower’s achievement of an aperture efficiency of 13.4% for our flexible CIGS modules is a result of efficiency improvement projects that have been in place during the past two years,” adds Mustafa Pinarbasi, CTO at SoloPower.
“We were the first company to certify flexible CIGS modules to UL 1703 and IEC standards (61646 and 61730) in 2010. We have improved the efficiency from 11.2% to 13.4% with new processes implemented in our roll to roll production line and have a strong pipeline of improvements yet to come this year.”
At this time, SoloPower is hiring engineers and technicians for its high-volume manufacturing facility in Portland, Oregon, which will begin commercial production later this year. SoloPower’s operations in Portland are ultimately expected to have a capacity of 400 MW and employ 450 people.
SoloPower’s CIGS flexible
solar panel breaks barriers The aperture efficiency of the firm’s independently tested panel has increased from 11.2% to 13.4%. The efficiency was improved by using new processes implemented in SoloPower’s roll to roll production line SoloPower says its next generation panel has achieved an aperture area efficiency of 13.4%. This, says the firm, is a record for flexible CIGS based modules.
The result was verified independently by the National Renewable Energy Laboratory (NREL).
SoloPower to bring jobs to Oregon
The CIGS manufacturer is recruiting engineers and technicians for a high volume manufacturing facility in Portland
San-Jose based SoloPower, a manufacturer of CIGS flexible thin film solar cells, is seeking engineers and technicians for its high volume manufacturing facility in Portland, Oregon.
The state-of-the-art facility is to begin commercial production later this year.
Upon completion, SoloPower’s Portland facilities are expected to have a capacity of 400 MW and employ 450 people, strengthening the firm’s ability to provide powerful, flexible, lightweight solar modules for its growing global customer base.
April/May 2012
www.compoundsemiconductor.net 153
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