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ECD takes full control of Bekaert photovoltaic ventures

Posted: 20 May 2003 ?? ?Print Version ?Bookmark and Share

Keywords:energy conversion device? ecd? nv bekaert sa? united solar system? bekaert ecd solar system?

Energy Conversion Devices Inc. (ECD) has acquired all of N.V. Bekaert S.A.'s interests in the photovoltaic joint ventures United Solar Systems Corp. and Bekaert ECD Solar Systems LLC (Uni- Solar).

As part of the acquisition, ECD will pay Bekaert $6 million. ECD will assume Bekaert's guarantees with respect to certain liabilities of the joint ventures amounting to about $25 million. Bekaert will receive rights to technologies outside the field of photovoltaics and rights limited to build sputtering machines outside the field of triple-junction photovoltaics.

According to ECD, it is committed to rapidly ramping up Uni-Solar's production and sales. Uni-Solar is currently shipping improved products from its new 30MW manufacturing equipment, a machine that manufactures thin-film amorphous silicon alloy solar cells. The equipment is capable of producing nine miles and six tons of solar cells within 72 hours.





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