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Intel invests in German solar firm

Posted: 11 Jul 2008 ?? ?Print Version ?Bookmark and Share

Keywords:solar module? cleantech? photovoltaics?

Intel Capital has invested in Sulfurcell, a German developer and manufacturer of thin-film, electricity-generating solar modules. Sulfurcell will use the new investment to significantly expand production with a new plant in Berlin.

Intel Capital led the 85 million euros ($133.67 million) total equity round, with a 24 million euros ($37.74 million) investment. European cleantech investors including Climate Change Capital Private Equity (London), AIG (Zurich), Demeter Partners (Paris), Zouk Ventures (London) and BankInvest (Copenhagen) invested 38 million euros ($59.76 million) with the remainder of the round coming from existing investors.

"Cleantech investments worldwide, including solar power generation, are a key focus for Intel Capital, particularly in the wake of global warming concerns and rising energy costs for businesses and consumers," said Arvind Sodhani, president of Intel Capital and Intel Corp. executive VP. "By investing selectively in innovative technologies, such as those delivered by Sulfurcell, we further the viability of alternative energy options and help increase adoption while reducing carbon emissions."

"We have an aggressive growth strategy and the funding will enable us to respond to the rapidly increasing demand for thin-film solar modules in all market segments," said Nikolaus Meyer, CEO of Sulfurcell.

Sulfurcell makes monolithic modules using thin-film materials from the CIS/CIGSe (Copper-Indium-Sulfide/Selenide) family of chemical elements for the conversion of light to electricity. The company's pilot production line has demonstrated product performance and process scalability to enable future high-volume supply.

"Intel Capital invested in Sulfurcell because CIS/CIGSe solar modules have demonstrated some of the highest energy conversion efficiencies of all thin-film materials. They also enable emerging applications such as building integrated photovoltaics (BIPV), where solar modules are integrated in the core structure of roofs and walls," said Heiko von Dewitz, investment director of Intel Capital's cleantech sector in Europe and Israel. "Germany is a leader in adopting photovoltaics as an alternative energy source and we believe Sulfurcell is well positioned to contribute to broader adoption in Germany and in other countries worldwide."

Intel Capital is focused on the cleantech sector, actively seeking and structuring investments in companies worldwide that are producing products and services in a variety of "green" areas such as energy efficiency, alternative power generation and storage, transportation and materials.

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