Calisolar Inc., a Sunnyvale, California-based designer and manufacturer of high-performance solar wafers and cells with technologies that use lower cost silicon feedstock, announced the acquisition of 6N Silicon Inc., an Ontario-based silicon supplier to the solar industry.
The acquisition was completed through a stock-for-stock transaction between the two companies.
In addition, $22.5m in funding was raised from existing Calisolar and 6N investors. The new capital will be used to increase capacity at the Sunnyvale cell manufacturing facility and expand silicon purification operations in Vaughan, Ontario.
6N Silicon will operate as a wholly owned subsidiary of Calisolar.
Calisolar will integrate 6N Silicon’s innovative, low-cost, silicon purification techniques into its manufacturing process to deliver high-quality solar cells. By optimizing silicon for wafering and cell manufacturing, Calisolar will significantly lower manufacturing and energy costs, improve silicon yield and enable scrap silicon recycling.
Commenting on the acquistion, Roy Johnson, CEO of Calisolar, said: “This is a major step towards our mission to reduce the cost of solar.
“With this acquisition of a world-class operation, talented people and new funding, Calisolar will rapidly grow in the U.S., Canada and around the world”.
In January 2010, Calisolar began commercial shipments of solar cells, the critical components in solar panels that convert sunlight into electricity and are in the final stages of qualification at multiple global panel manufacturers.