First Solar on Tuesday announced a solar technology partnership with GE and the acquisition of GE’s global cadmium telluride (CdTe) intellectual property portfolio. GE acquired 1.75 million shares of First Solar common stock as part of this transaction. GE has agreed to retain the shares for at least three years.
“We are creating an exciting synergy with this deal,” said Jim Hughes, First Solar’s Chief Executive Officer. “The addition of GE’s PV thin film technology and R&D resources will advance our technology roadmap, while realizing cost reduction in our manufacturing process.”
Source: First Solar