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June 16, 2008 – Vol.13 No.13 Intel Spins off Solar Technology: Investment Arm of Chipmaker Invests in SpectraWatt. Intel Corporation is spinning off key assets of a startup business effort inside Intel's New Business Initiatives group to form an independent company called SpectraWatt Inc. SpectraWatt will manufacture and supply photovoltaic cells to solar module makers. In addition to focusing on advanced solar cell technologies, SpectraWatt will concentrate development efforts on improvements in current manufacturing processes and capabilities to reduce the cost of photovoltaic energy generation. Intel Capital, Intel's global investment organization, is leading a $50 million investment round in SpectraWatt and is joined by Cogentrix Energy, a wholly owned subsidiary of The Goldman Sachs Group, PCG Clean Energy and Technology Fund and Solon AG. SpectraWatt expects to break ground on its manufacturing and advanced technology development facility in Oregon in the second half of 2008 with first product shipments expected by mid-2009. Product details were not yet available.
Intel Capital makes equity investments in innovative technology startups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Cogentrix Energy is a leading owner and operator of independent power and cogeneration assets in North America. The PCG Clean Energy and Technology Fund is a co-mingled fund of funds and co-investment vehicle dedicated to investing across the spectrum of the global clean energy and technology value chain. SOLON AG is one of the largest solar module manufacturers in Europe and a leading supplier of photovoltaic systems for large-scale solar power plants. (6/16/08)
Links: Intel Cogentrix Energy SOLON AG PCG Clean Energy and Technology Fund
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No
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