First Solar Inc. (Nasdaq: FSLR) announced its acquisition of TetraSun, a solar photovoltaic startup that has developed a cell architecture capable of conversion efficiencies exceeding 21 percent. Terms of the deal were not disclosed.
The technology is a proprietary cell architecture that enables high-volume production with higher yields using readily available equipment.
First Solar signed a definitive agreement to buy TetraSun from JX Nippon Oil & Energy Corp. and other investors. The companies have also started discussions on an agreement to distribute the technology in Japan.
Read more mergers and acquisitions news