First Solar, Inc. (NASDAQ: FSLR) has acquired RayTracker, Inc., a tracking technology and photovoltaic (PV) balance-of-systems firm that is an operating company of the Idealab technology incubator.
Financial terms of the deal were not disclosed.
RayTracker’s entire team will join First Solar’s Engineering, Procurement and Construction (EPC) group. RayTracker’s customers will be transitioned to First Solar.
In advance of the acquisition by First Solar, technology developed by RayTracker includes its GC-SeriesTM single-axis trackers, its unique PV-PlatformTM Software Toolset for system design and operation, wireless infrastructure technology, and other PV balance-of-system innovations.
RayTracker says its single-axis tracking system has over 5 million hours of operation in the ?eld with .9998 measured availability. The company also claims to have the first tracking system validated with a 20-year-plus lifetime without scheduled maintenance.
RayTracker is backed by Idealab, The Quercus
Trust and Phoenix Fire IV, LLC.
Entrepreneur Bill Gross and Idealab have founded more than 75 companies including eSolar, Inc., Energy Innovations, PostUp, Inc., Overture Services, Inc., CitySearch, Picasa and Internet Brands.
First Solar shares–a popular green investment–did not change with release of the news on Friday. However they jumped over the weekend and were volatile in Monday morning trading–swinging as much as 2.3% from $135 to $137 per share.
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