EMCORE has inked a definitive agreement for the consolidation of its terrestrial concentrating photovoltaics (CPV) business into its joint venture, Suncore Photovoltaics.
EMCORE is a provider of terrestrial CPV solar cells, complete turn-key CPV systems, and receiver assemblies to the market for commercial rooftop solar power applications and grid-tied utility applications. Suncore Photovoltaics, was established by EMCORE with San'an Optoelectronics in 2010 for mass production and business development in the Chinese market.
EMCORE has signed the definitive agreement with Suncore Photovoltaics to streamline the engineering and development activities for CPV systems through the consolidation of intellectual property and development activities for both rooftop and ground mount terrestrial CPV products into a subsidiary of Suncore Photovoltaics.
As part of the deal, Suncore's subsidiary will finance all ongoing research and development, business development, marketing and sales of terrestrial CPV systems. EMCORE will retain all of its intellectual property associated with solar cell technology and continue investment activities to improve CPV cell performance in order to serve an extensive customer base in the CPV industry. EMCORE workers who are involved in the development of business and products for terrestrial CPV will become a part of Suncore.
Christopher Larocca, Chief Operating Officer at EMCORE, stated that this definitive agreement will enable the company to concentrate on its core capability of multi-junction solar cell technology for space and terrestrial power applications. The company will continue to supply cutting-edge CPV solar cell products to Suncore.
Suncore Photovoltaics’ General Manager, Dr. Charlie Wang stated that with its strong IP portfolio, mass production capacity, and solid financial status, the company is now ready to provide services to the global renewable energy industry with advanced CPV technology and products.
Source: http://www.emcore.com/
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