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GE Energy To Make Strategic Investment In PrimeStar Solar Inc.

September 20, 2007 by Jeff Shepard

GE Energy announced that it has reached an agreement to acquire a minority equity interest in PrimeStar Solar, Inc., which is described as an emerging solar thin-film technology and manufacturing company.

Headquartered in Golden, Colorado, PrimeStar Solar was formed in June 2006 to develop and commercialize thin-film photovoltaic modules. The company has 31 employees, including a core management team with more than 100 years of thin-film equipment and process experience.

"Solar energy will play an important role in the future of the global energy market and is an integral part of our renewables portfolio," said Victor Abate, Vice President of Renewables, GE Energy. "Our goal, through this investment, is to place GE’s solar business in a strategic position in the thin-film solar industry, adding to GE’s diverse range of energy generation technologies."

"PrimeStar Solar is excited to work with GE to accelerate our plans for large-scale commercialization of low-cost, high efficiency solar technology," said Brian Murphy, CEO of PrimeStar.