Applied Materials Acquires the Assets of Advent Solar
SANTA CLARA, Calif.--(BUSINESS WIRE)--Applied Materials, Inc., the leading supplier of equipment and services
to the solar photovoltaic (PV) industry, announced today that it has
acquired substantially all the assets, including the intellectual
property, of Advent Solar, Inc. for an undisclosed cash amount. Advent
Solar is a developer of advanced technology for crystalline silicon
(c-Si) PVs. This acquisition is expected to complement Applied’s
portfolio of solar PV technologies and enhance its leadership in the
c-Si equipment market.
Advent Solar has pioneered several innovations for producing c-Si cells
and modules, including technology for streamlining module assembly
processes and advanced efficiency device architectures. The company,
founded in 2002, is headquartered in Albuquerque, New Mexico.
“We believe the acquisition of Advent Solar will increase our
opportunities to provide innovative solutions for reducing module
production costs,” said Dr. Mark Pinto, chief technology officer and
general manager of Applied’s Energy and Environmental Solutions Group.
“Combining Advent Solar’s PV technology with Applied’s expertise in
automated wafering and cell production equipment, we expect to deliver
systems that will enhance customers’ c-Si roadmaps and accelerate the
reduction in cost per watt of solar electricity.”
After the close of this transaction, Advent Solar’s assets will be
integrated with Applied’s Energy and Environmental Solutions Group.
Safe Harbor Statement. This press release contains
forward-looking statements relating to the acquisition of assets of
Advent Solar and expected benefits of the transaction. These statements
are subject to known and unknown risks and uncertainties that could
cause actual results to differ materially from those stated or implied,
including but not limited to: (a) the successful integration and
performance of the acquired business; (b) demand for PV products, which
is subject to many factors, including uncertain global market
conditions, government renewable energy policies and incentives, cost in
relation to other energy sources, and technology innovations; (c)
Applied’s ability to (i) develop, deliver and support a broad range of
products and expand its markets, (ii) obtain and protect intellectual
property rights in key technologies, (iii) manage its supply chain and
production capability, and (iv) recruit and retain key employees; and
(d) other risks described in Applied’s SEC filings. All forward-looking
statements are based on management’s estimates, projections and
assumptions as of the date hereof and Applied undertakes no obligation
to update any such statements.
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in
Nanomanufacturing Technology™ solutions with a broad portfolio of
innovative equipment, service and software products for the fabrication
of semiconductor chips, flat panel displays, solar photovoltaic cells,
flexible electronics and energy efficient glass. At Applied Materials,
we apply Nanomanufacturing Technology to improve the way people live.
Learn more at www.appliedmaterials.com.
