Solar Thin Films Inc. Acquires Atlantis Solar


Thin Films Inc. has acquired 100% of the issued and outstanding shares of Atlantis Solar LLC. Solar Thin Films will maintain Atlantis as a wholly owned subsidiary. Atlantis intends to create a solar panel assembly and manufacturing facility in the U.S. to fabricate both crystalline and amorphous silicon modules. Factory operations are expected to begin in the fall, and the company has received its first non-binding memorandum of understanding from a customer for the potential purchase of up to 80 MW of crystalline modules. If this acquisition is consummated, the potential gross revenues from this sale could be as much as $100 million over the next three years, according to the companies. Atlantis is headed by James Molinaro, co-founder of Solvinti LLC. SOURCE: [link=]Solar Thin Films Inc.[/link]

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