Calisolar Inc. has acquired Silicon Inc., an Ontario-based silicon supplier. The acquisition was completed through a stock-for-stock transaction between the two privately held companies. In addition, $22.5 million in funding was raised from existing Calisolar and 6N investors.
According to Calisolar, the new funds will be used to increase capacity at the company's Sunnyvale, Calif., cell manufacturing facility and expand silicon purification operations in Vaughan, Ontario. 6N Silicon will operate as a wholly owned subsidiary of Calisolar.
Calisolar will tightly integrate 6N Silicon's silicon purification techniques into its manufacturing process. By optimizing silicon for wafering and cell manufacturing, Calisolar will significantly lower manufacturing and energy costs, improve silicon yield and enable scrap silicon recycling, the company adds.
SOURCE: Calisolar Inc.