Intel Capital invests in German solar module maker
Zuerich, July 9, 2008
Source: Reuters UK /Reporting by Eva Kuehnen; Editing by Quentin Bryar
http://uk.reuters.com/article/governmentFilingsNews/idUKL0926484920080709
Intel Corp (INTC.O: Quote, Profile, Research), the world’s biggest maker of semiconductors, has strengthened its renewable energy activities by investing in a German solar module maker, the company said on Wednesday. Intel Capital, Intel’s venture capital arm, said it would invest 24 million euros ($37.7 million) in Sulfurcell, which makes thin-film solar modules using copper indium gallium selenide, or CIGS, technology to turn sunlight into electricity. Thin film is generally less expensive than versions relying on polysilicon.
Intel’s move is part of a larger Sulfurcell investment round of up to 85 million euros, of which 38 million comes from other investors such as Climate Change Capital Private Equity, AIG, Demeter Partners, Zouk Ventures and Bank Invest, Intel said. The remaining funds derive from existing investors.
Sulfurcell will use the proceeds to expand its production capacity in Germany. In June, Intel led a $50 million investment round in a new solar cell start-up, SpectraWatt, spinning off solar technology that it had developed.