Regulatory Filings • Jul 18, 2011
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Corporate | 18 July 2011 07:40
ELMOS Semiconductor AG: ELMOS joins Asian energy company as partner in TetraSun
ELMOS Semiconductor AG / Key word(s): Alliance
18.07.2011 / 07:40
Startup develops cost-effective high-efficiency solar cells
Dortmund, July 18, 2011: ELMOS Semiconductor AG (FSE: ELG) takes a holding in California's TetraSun Inc. Another shareholder in the startup, apart from ELMOS and the TetraSun management, is a major Asian energy company. TetraSun develops a new kind of monocrystalline silicon solar cells reaching high efficiency at low production costs.
ELMOS acquires a minority stake in TetraSun by investing a high single-digit million US-Dollar amount and will be represented with a seat on the TetraSun Board of Directors. At present TetraSun is operating a pilot production line at the manufacturing site of ELMOS subsidiary SMI in the United States.
ELMOS is expecting corporate synergies from the combination of solar cells and semiconductors and sensors, both existing in the product portfolio and yet to be developed. The emphasis will be placed on energy conversion for solar solutions.
'The strategic collaboration with TetraSun together with the Asian energy company will open up additional market opportunities in photovoltaics for us,' says Dr. Anton Mindl, CEO of ELMOS Semiconductor AG.
'We are extremely excited to join forces with ELMOS to further the technology development progress we have made to date and to explore new applications for our cells,' states TetraSun's CEO, Denis De Ceuster.
About TetraSun Inc.
TetraSun Inc. is a U.S. based company developing technology for high-efficiency monocrystalline silicon solar cells. Applications for solar cells made by TetraSun include on-grid, off-grid and mobile PV markets.
ELMOS Semiconductor AG is a developer and manufacturer of semiconductor-based system solutions. Our chips have made automobiles as well as industrial and consumer goods more performance and power efficient for more than 25 years.
Contact: ELMOS Semiconductor AG, Janina Rosenbaum, Heinrich-Hertz-Str. 1, 44227 Dortmund, Phone: +49 231-7549-0, extension: -287, fax: +49 231-7549-548, e-mail: [email protected], www.elmos.de
End of Corporate News
18.07.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | ELMOS Semiconductor AG |
| Heinrich-Hertz-Str. 1 | |
| 44227 Dortmund | |
| Germany | |
| Phone: | +49 (0)231 7549-575 |
| Fax: | +49 (0)231 7549-548 |
| E-mail: | [email protected] |
| Internet: | http://www.elmos.de |
| ISIN: | DE0005677108 |
| WKN: | 567710 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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| 132270 18.07.2011 |
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