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.
“We believe the acquisition of Advent Solar will increase our opportunities to provide innovative solutions for reducing module production costs”
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.