Solar Thin Films, Inc. (OTC BB:SLTN.OB), a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic modules, has entered into a strategic alliance and cross license agreement with Amelio Solar Inc.
Under the agreement, Solar Thin Films will market and sell photovoltaic products using copper indium gallium diselenide (CIGS) technology developed and commercialized by Amelio Solar, and has rights to manufacture PV module manufacturing equipment using CIGS technology subject to certain terms and agreements.
Concurrent with the strategic alliance and cross license agreement, the company has signed a stock purchase agreement to arrange for the sale of an aggregate of 18.0 million shares of common stock owned by the Kiss family. The strategic alliance, cross license and stock purchase agreements are expected to close simultaneously on or about November 30.
"As the solar industry continues to shift toward thin film photovoltaic applications, the technology will continue to evolve," said Peter Lewis, CEO of Solar Thin Films. "Today our expertise lies in the process know-how required to produce a complete line of manufacturing equipment for the production of thin-film amorphous silicon modules. And we believe that amorphous silicon offers cost advantages over other commercially viable thin film materials available in the market. At the same time, we want to prepare for the emergence of other cost-effective thin film technologies, including CIGS and micro crystalline, by forming partnerships with companies like Amelio Solar and through our own research and development activities. Therefore, our plan is to position Solar Thin to utilize other thin film materials as the industry evolves."
About Solar Thin Films
Solar Thin Films develops, manufactures and markets a complete line of manufacturing equipment for the production of "thin-film" amorphous silicon modules, together with a wholly owned subsidiary based in Budapest, Hungary. Personnel associated with the company have been responsible for the setup of nearly a dozen amorphous silicon photovoltaic factories worldwide. The Company sells both "turnkey systems" to customers including CG Solar in China and Grupo Unisolar in Spain, and contracted equipment to customers including EPV Solar (Hamilton, NJ, USA).
About Amelio Solar Inc.
Amelio Solar is a vertically integrated photovoltaic manufacturing company. The company is a provider of thin-film photovoltaic module technology, related product manufacturing and power-generation solutions, including: Photovoltaic technology research and development; Photovoltaic module product manufacturing and distribution; Photovoltaic module factory design and installation; Photovoltaic power plant systems design and installation; and building-integrated photovoltaic (BIPV) design and installation. For more information about Amelio Solar Inc. visit www.ameliosolar.com.
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