Day4 Energy Inc. has entered into an agreement in principle to acquire ACI-ecotec GmbH & Co. KG, a privately owned specialized photovoltaic equipment design and manufacturing company based in Germany.
Under the agreement, Day4 will acquire 100% of ACI in an all-stock transaction of up to 10.8 million shares of Day4, subject to post-closing adjustment. The acquisition is subject to the completion of definitive documentation, approval of these documents by Day4's directors and obtaining all required consents and approvals, including the approval of the Toronto Stock Exchange to the issue of the Day4 shares.
The combination of the Day4 proprietary and patented technology and ACI's specialized know-how and equipment allows Day4 to immediately launch the offering of its turnkey manufacturing technology solution for the production of PV cells and PV modules based on proprietary technologies developed by Day4, the company says.
The parties anticipate closing the transaction in the first half of this year.
SOURCE: Day4 Energy