Emcore to merge terrestrial CPV operations into Suncore JV
Aug 7, 2012 - US semiconductor company Emcore Corp (NASDAQ:EMKR) on Monday said it would integrate its engineering and development operations for terrestrial concentrating photovoltaics (CPV) systems into its joint venture Suncore Photovoltaics.
Chief operating officer Christopher Larocca said the move would allow Emcore to focus on its core expertise of multi-junction solar cell technology for space as well as terrestrial power applications.
The company has been involved in research, development and production of solar concentrator photovoltaics since 2005. In 2010, it created Suncore, a joint venture with San'an Optoelectronics Co Ltd, to start high-volume manufacturing in China.
Emcore and Suncore have now struck a definitive deal, subject to closing conditions, to consolidate intellectual property and development activities for terrestrial CPV products, both ground mount and rooftop, to a wholly-owned US subsidiary of Suncore. The deal, which is to streamline CPV development and engineering efforts, will see Emcore staff engaged in product and business development for terrestrial CPV go to Suncore, according to the announcement.
The Suncore unit will fund all research and development, marketing, sales and business development in relation to terrestrial CPV systems. Emcore will remain the owner of its intellectual property for solar cell technology and will continue to invest to improve CPV cell performance.