Bloomberg News

Hanergy Buys Alta Devices of the U.S. for Low-Light Technology

August 13, 2014

Hanergy Holding Group Ltd., a Chinese maker of thin-film solar panels, bought Alta Devices of the U.S. for technology that works in low-light conditions.

Hanergy will use Alta’s solar cells in applications including emergency charging of mobile phones and cars, the Chinese acquirer said in a statement today. Financial terms of the purchase weren’t disclosed.

The Beijing-based company will expand Alta’s solar-cell factory in California, Chairman Li Hejun said at a press conference in Beijing today.

The deal is Hanergy’s fourth overseas acquisition of thin-film technology since 2012. It bought Global Solar Energy Inc., Miasole Inc. and Q-Cells SE’s Solibro unit in a bid to compete with First Solar Inc. (FSLR:US), the biggest maker of thin-film panels by shipments.

A thin-film solar cell is made by placing layers of photovoltaic material on a semiconductor wafer. Alta’s use of of gallium arsenide will allow solar cells to “harvest energy from indoor light,” Chief Executive Officer Chris Norris said at the press conference.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Abhay Singh, Jason Rogers


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Companies Mentioned

  • FSLR
    (First Solar Inc)
    • $48.8 USD
    • -2.73
    • -5.58%
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