Solar firm Airlight Energy eyes IPO in up to 2 years - report

Oct 3, 2014 - Swiss solar equipment maker Airlight Energy Holding SA is considering to launch an initial public offering (IPO) in the next 12-24 months, Bloomberg said today, citing a company official.

The privately-owned firm is expected to post break-even results within the next two years, which will help it list its shares on the bourse or hold a trade sale, CFO Patrick Pozzorini told the news agency. He declined to say where it may float and noted that the IPO talks are still at an early stage.

Together with International Business Machines Corp (NYSE:IBM), Airlight Energy is working on the development of a high concentration photovoltaic thermal (HCPVT) system that will be able to produce 12 kW of power and 20 kW of heat per day. They expect to bring their technology to the market by 2017. The application will be suitable for remote locations.

In addition, Airlight Energy has built a demonstration solar plant for a cement factory in Ait Baha, Morocco using a separate technology. It owns the facility, which was put on stream in the second quarter of 2014, together with Ciments du Maroc, a subsidiary of Italian cement maker Italcementi SpA (BIT:IT).

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