Bitterfeld-Wolfen, November 1 2007: Q-Cells AG, its subsidiary Calyxo GmbH and US-based Solar Fields LLC have decided to merge their activities in the production of CadmiumTelluride photovoltaic modules.
The three companies have been working closely together since Solar Fields exclusively licensed its innovative deposition technology to Q-Cells´ 100 % subsidiary Calyxo GmbH. To accelerate the development and commercialization of the technology and to make optimal use of its economic potential, Q-Cells and Solar Fields have now entered into an arrangement that aligns their businesses and provides for a successful expansion strategy.
Calyxo GmbH takes over all of Solar Fields IP and thus strengthens its technological basis by gaining perpetual exclusive access to the technology and its exploration. Solar Fields´ assets have been transferred into a 100 % US subsidiary of Calyxo GmbH, the newly formed Calyxo USA Inc., that shall focus on R&D activities and rapid further improvements of the technology. To this, all of Solar Fields' employees will also be transferred to Calyxo USA.
Solar Fields itself has in return received 7 % of the shares in Calyxo GmbH and thus become a minority shareholder in Calyxo GmbH. It can hence participate in the significant upside potential of the technology. The company also receives a one-time payment of USD 5 million. Q-Cells AG retains the other 93 % of the shares. Calyxo GmbH is currently building its first prototype facility with a nominal capacity of 25 MWp at its company site in Bitterfeld-Wolfen (Germany), which is expected to start production in the first quarter of 2008. Q-Cells has committed itself to secure the financing of future expansion plans and to support the further growth ambitions of Calyxo GmbH.