Stion Announces Agreements and Partnership with TSMC
Taiwan Semiconductor Manufacturing Company, Ltd. (TSMC) and Stion Corp., a manufacturer of high-efficiency thin-film solar photovoltaic modules, have announced a series of agreements covering technology licensing, supply, and joint development. In addition, VentureTech Alliance, a TSMC affiliate, will invest US$50 million to take a 21 percent stake in Stion.
Under the agreements, Stion licenses and transfers its thin-film CIGSS technology to TSMC, while TSMC will provide a certain quantity of solar modules to Stion using the technology. TSMC and Stion will also work together to enhance the thin film technology through joint development.
"Working with Stion, TSMC gains a robust thin film technology with inherent low cost structure. With TSMC’s R&D capabilities and manufacturing expertise, we believe we can achieve long-term overall leadership in solar PV solutions, and we are happy to be able to contribute to a greener economy," said Dr. Rick Tsai, TSMC’s President of New Businesses.
"We are pleased to form a win-win relationship with TSMC, a world-class company. The collaboration enables Stion to scale its operations, leverages both companies’ strengths to achieve market leadership and to deliver on the promise of efficient, affordable solar energy" said Chet Farris, President and CEO of Stion.
Stion will commence a 100 MW expansion of its San Jose, California facility following the close of its $70 million Series D financing. Stion had previously raised $44.6 million in equity financing.
Stion’s panels are specifically designed for use in all major applications, including commercial/government, residential, utility and off-grid. The panels are produced using monolithically integrated circuits and are claimed to offer a number of advantages over competing products, including high efficiency, a convenient form factor (2 ft. x 5 ft), and improved performance in partial shading.
TSMC and Stion will not make public further details of these agreements.