MEMC Acquires Solar Silicon Ingot Maker Solaicx for $66M
Posted in Solar Power on July 8th, 2010 by News Desk –
St. Peters, Mo. – MEMC Electronic Materials, a maker of semiconductor and solar wafers, has acquired Solaicx, a privately held, California-based maker of silicon ingots for the solar industry, for $66 million in cash.
MEMC said that the initial merger price, plus an additional amount of about $10 million in cash, is equal to amounts that have recently been invested in Solaicx by its existing shareholders.
Solaicx’s system is designed for very high volume materials handling, as compared to silicon wafers produced in the traditional precision semiconductor manufacturing process, which the company says ensures better utilization of raw silicon feedstock at a significantly lower cost. Founded in 2002, Solaicx has about 80 employees and a large-scale production facility in Portland, Ore.
MEMC said the acquisition provides it with the ability “to drive solar industry toward grid parity.”
Solaicx website
