Share this story:

First Solar ($FSLR) Expands European Footprint with Acquisition of Thin Film Company Evolar



Green Stock News LLC


May 12, 2023 – TheNewswire - First Solar (NASDAQ: FSLR), a leading American solar technology company, has acquired Evolar AB, a European leader in photovoltaic technology. 

 

The deal, valued at around $38 million, with an additional $42 million contingent upon future technical milestones, aims to accelerate the development of high-efficiency tandem devices by integrating Evolar's expertise with First Solar's research and development capabilities. Evolar's research facility in Uppsala, Sweden, will continue its activities, marking First Solar's first R&D facility in Europe. Around 30 of Evolar's R&D staff will join First Solar, collaborating with the company's scientists in California and Ohio.

 

Founded in 2019, Evolar has achieved notable advancements in thin film PV, including setting a world record for CIGS research solar cells. First Solar's investment in R&D also includes the construction of a cutting-edge innovation center in Ohio, which is set to be the largest facility of its kind in the Western Hemisphere. 

 

Markus Gloeckler, chief technology officer of First Solar stated: “As we approach over 20 gigawatts of global nameplate capacity by 2025, First Solar’s track record in scaling thin film photovoltaics speaks for itself.”

 

Since 1999, First Solar’s approach to technology embodies sustainability and a responsibility towards people and the planet.

 

Shares of First Solar trade on the NASDAQ under the ticker symbol FSLR. For more information visit www.greenstocknews.com 

  

Source: https://greenstocknews.com/newswire/first-solar-fslr-expands-european-footprint-with-acquisition-of-thin-film-company-evolar

 

Disclaimer

 

This content is not financial advice and is for information, education and entertainment purposes only. Green Stock News is not responsible for any losses related to the financial decisions made by you. Video content and other materials including web content are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Green Stock News is not responsible for any gains or losses that result from the opinions expressed in this video or materials that it publishes electronically.

 

View original video news clips here: https://greenstocknews.com/green-stock-newswire