Quantum Completes Partial Acquisition Of PV Module Maker ASOLA

Posted by SI Staff on January 23, 2008 No Comments
Categories : FYI

Quantum Fuel Systems Technologies Worldwide Inc. has completed the acquisition of a 25% equity stake in ASOLA Advanced and Automotive Solar Systems GmbH, a Germany-based solar energy technology company that develops and manufactures PV modules.

Currently, ASOLA's order backlog extends for several years, building on the long-term solar cell supply agreement that ASOLA and Quantum entered into with German solar cell manufacturer ersol. As previously announced, ASOLA signed a supply contract with ersol for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells, starting this year.

‘Demand for ASOLA's high-quality solar modules continues to grow in the expanding renewable energy markets in Germany, Spain, Italy and France,’ comments Alan P. Niedzwiecki, president and CEO of Quantum. ‘Our goal is to produce and make these high-quality solar modules available in the United States as well.’

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