First Solar, Inc. (NASDAQ: FSLR), a trailblazer in solar technology, has announced the acquisition of Evolar AB, a European leader in perovskite technology. This strategic move signals First Solar’s intent to further solidify its global leadership in thin film photovoltaics (PV).
Expansion of First Solar’s PV Technology Sphere
With the acquisition, First Solar bolsters its expertise in thin film technologies, enhancing its R&D streams and intellectual property portfolio. The decision to acquire Evolar, known for its prowess in thin film semiconductors, was informed by a vision for the future of solar energy.
CEO of First Solar, Mark Widmar, captures this vision eloquently, saying: “With this acquisition, along with our new innovation center in the United States and longstanding commitment to R&D, we are investing not just in First Solar’s future, but the future of solar energy. We anticipate that high efficiency tandem PV modules will define the future, speeding up decarbonization by allowing us to convert sunlight into clean electricity more efficiently.”
Evolar’s Contribution to Future Solar Technology
Evolar has established itself as a frontrunner in developing solutions for commercializing tandem solar technology, which utilizes perovskite thin films. They hold the current world record for CIGS research solar cells with an efficiency rate of 23.6 percent, showcasing the potential their expertise brings to the table.
A New Chapter in European R&D
As part of the acquisition agreement, Evolar’s laboratory in Uppsala, Sweden, will remain functional, marking the first European R&D facility under First Solar’s mantle. Approximately 30 of Evolar’s R&D staff will join First Solar, synergizing with their scientists in Santa Clara, California, and development teams in Perrysburg, Ohio.
Widmar envisions this transatlantic connection as a unique opportunity for growth, saying, “By connecting our advanced research lab in California with Europe and building the Western Hemisphere’s largest PV R&D innovation center in Ohio, we are effectively establishing and leading a uniquely transatlantic effort to develop and commercialize the next generation of photovoltaics.”
First Solar: Driving the Future of Thin Film Photovoltaics
With the acquisition of Evolar, First Solar strengthens its commitment to advancing the fight against climate change. Markus Gloeckler, CTO of First Solar, captures this sentiment: “The future of PV clearly lies in thin film semiconductors, and few other solar technology companies are as well placed to develop and commercialize future solar technologies as First Solar is.”
From raw material sourcing and manufacturing to end-of-life module recycling, First Solar’s comprehensive approach to technology underscores a commitment to sustainability and a responsibility towards people and the planet.
Wrapping Up
This acquisition heralds an exciting chapter for First Solar and the broader solar technology industry. As First Solar integrates Evolar’s expertise and continues its own innovation, we can expect great strides in thin film photovoltaics.
As we continue to track developments in renewable energy, we invite you, our readers, to engage in the conversation. What are your thoughts on this acquisition? How do you see the future of solar technology evolving? Let us know in the comments below. For more information on First Solar’s advancements, visit www.firstsolar.com.
