Message #58 From:
NewsBot Date: November 20, 2006 04:30:00 AM
AMAT News Applied Ventures Invests in Solar Wafer Manufacturer Solaicx
SANTA CLARA, Calif.--(BUSINESS WIRE)--Applied Ventures, LLC, the venture capital fund of Applied Materials,
Inc., today announced that it has invested $3.0 million in Solaicx, a
private manufacturer of cost-effective, single-crystal silicon wafers
for the solar photovoltaic (PV) industry. Solaicx plans to use the
investment to expand its business with a second U.S. manufacturing site,
scheduled for 2007 operation.
Solaicx’s technology is based on proprietary,
continuous Czochralski (CZ) crystal growing methodology that enables the
high-volume manufacturing of cost-effective, high-quality ingots for
conversion into solar wafers. The Solaicx crystal growing equipment is
expected to be up to five times more productive than traditional CZ
systems that were designed primarily for the semiconductor industry.
“Our investment in Solaicx aligns well with
Applied Materials’ solar strategy and enables
Applied to expand its presence in the solar value chain,”
said J. Christopher Moran, vice president and general manager of Applied
Ventures. “Applied is committed to providing
the solar industry with technology and process innovations to reduce the
cost per watt of solar power. Solaicx meets these requirements –
offering improved manufacturing technology to facilitate the streamlined
manufacturing of solar cell wafers.”
Solaicx has a proven management team that includes Bob Ford, president
and CEO, Bill Yerkes, chief technical officer and solar industry
pioneer, and John Sedgwick, vice president and co-founder. Michele
Klein, an investment manager with Applied Ventures, will join the
Solaicx board as an observer. “Having Applied
Materials as an investor and a willing resource as we execute our
manufacturing expansion is extraordinarily valuable,”
said Bob Ford. “Solaicx plans to use Applied
Materials’ equipment and manufacturing
expertise to assist in fully capitalizing on our market opportunities.”
Solaicx manufacturers silicon wafers for the photovoltaic
industry with proprietary equipment optimized for the high-volume,
continuous manufacture of high-performance, single crystal silicon
ingots. This technology provides cost and quality advantages that can be
passed through the value chain of silicon-based solar cell
manufacturing. For more information about Solaicx, visit www.solaicx.com.
Applied Ventures, LLC (www.appliedventures.com)
invests in high-growth, early stage companies pursuing technologies that
provide a natural extension to Applied Materials’
core business, and innovations that stimulate the growth of applications
for semiconductors, displays and related products and services.
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in
Nanomanufacturing Technology™ solutions with
a broad portfolio of innovative equipment, service and software products
for the fabrication of semiconductor chip, flat panels, solar
photovoltaic cells, flexible electronics and energy efficient glass. At
Applied Materials, we apply Nanomanufacturing Technology to improve the
way people live. Learn more at www.appliedmaterials.com.
