Intelligence Brief
Intelligence Brief 22 June - 6 July
5 July 2010
Intelligence Brief 22 June - 6 July
Companies and organisations included in this news round-up include: Abengoa Solar, Spire Semiconductor LLC, Missile Defence Agency (MDA), QuantaSol, Emcore Corporation, TCIC, Committee on Foreign Investment in the United States (CFIUS) and Skyline Solar.
Obama offers $1.45bn Federal Loan Guarantee for Abengoa Solar Inc.
President Obama alongside the US Department of Energy has offered a conditional commitment for a $1.45 billion loan guarantee to Abengoa Solar, Inc.
The loan will support the construction and start-up of Solana, a 250 net megawatt (MW) concentrating solar power (CSP) plant in Arizona.
“After years of watching companies build things and create jobs overseas, it’s good news that we’ve attracted a company to our shores to build a plant and create jobs here in America”, said President Obama.
Solana will include six hours of molten salt thermal energy storage capability, which will allow energy to be dispatched as needed during cloudy periods and after sunset.
With this capability, Solana will be able to generate electricity well into the evening to help meet the summer peak demand.
The plant will be located 70 miles southwest of Phoenix, near Gila Bend, Arizona. Solana will produce enough energy to serve 70,000 households and will prevent the emission of 475,000 tons of CO2 per year compared to a natural gas burning power plant.
Santiago Seage, CEO of Abengoa Solar, said that “this conditional guarantee could allow us to start construction of Solana this year.”
Seage also added that Solana is in a very advanced stage of development and permitting, having received most of its authorizations from local, county, and state authorities.
Recently, DOE conducted an Environmental Assessment study and issued a finding of no significant impact (FONSI) for the project.
“What the project needs now is for Maricopa County and the state to continue their support and work expeditiously on the last remaining permits needed for construction to begin,” said Seage.
The construction and operation of Solana will bring many economic and environmental benefits to Arizona and will support the nation’s goals for energy independence through a “green” economy.
The plant will create significant tax income for local communities and the state over the life of the project.
Abengoa Solar’s Arizona Vice President Kate Maracas stated that “the building of Solana will also create between 1,600-1,700 new construction jobs, and operation of the plant will add another 85 permanent jobs.
These construction and operating jobs will create a few thousand additional indirect jobs. Taken together, 98% of the jobs created by Solana will be American jobs - primarily from Arizona, and a smaller portion from neighboring states.”
Abengoa Solar signed a power purchase agreement with APS, the state’s largest electric utility, to sell the energy produced by Solana for a period of 30 years.
Abengoa Solar has made it a priority to use US-made components wherever possible for the Solana plant.
More than 75% of the equipment and supplies required to build Solana will be manufactured in the US.
These include steam generators, heat exchangers, power equipment, glass, steel, concrete and other construction materials.
As a direct consequence of the construction of Solana, a mirror manufacturing factory will be built in Surprise, Arizona.
The mirror factory will employ almost 180 people, adding to the number of direct jobs created by Solana.
This new facility will provide Arizona with the foundation upon which to expand its solar energy technology manufacturing capabilities and to support future CSP projects.
In late 2009 Abengoa Solar signed a power purchase agreement in California to supply electricity generated by a 250 MW CSP trough plant located in the Mojave Desert, 100 miles northeast of Los Angeles
Spire Semiconductor bags MDA contract
Spire Semiconductor LLC has been awarded a contract from the Missile Defence Agency (MDA) to develop high efficiency, multi-junction solar cells for space applications.
Ed Gagnon, General Manager of Spire Semiconductor, LLC, said in a statement: "This award is timely since it supports our ongoing terrestrial solar cell business.
“Currently, we are developing a 42% efficient, 500 sun concentrator cell under a U.S. Department of Energy's National Renewable Energy Laboratory contract.
“The MDA contract will help to further establish our capabilities and expertise in concentrator photovoltaic (CPV) cell technology for both space and terrestrial solar cell applications."
Roger G. Little, Chairman and CEO of Spire Corporation, added: "The market opportunities for concentrator solar cells are significant.
“This contract supports commercial initiatives at Spire Semiconductor and provides validation of Spire's approach to increasing the efficiency where lowering the cost of concentrator solar cells.”
“We have already generated significant customer interest, and we plan to work closely with the MDA and customers to develop devices that optimally address strategic interests and market needs."
QuantaSol appoints new chairman
QuantaSol Ltd, a designer and manufacturer of tuneable ultra high efficiency concentrated photovoltaic (CPV) solar cells, has appointed Ian Jenks as Chairman and member of the board.
Jenks has more than 20 years of experience in the technology industry, both as an investor and as a board member of operating companies in the US and Europe. Chris Shannon, QuantaSol’s CEO said, “Ian joins the company at an exciting time as we ready ourselves for volume production and our first commercial product launch.
“His track record in driving international businesses, experience with Uniphase and time in Silicon Valley gives Ian the perfect CV to help guide QuantaSol through the next stage of its development.”
Over his distinguished career Ian has served on the Boards of a wide range of technology companies including Altitun, CoreOptics, Crystal Photonics, Digilens, Novalux, Oplink, Symmorphix, Zolo Technologies, and currently Intune Networks.
He has also fulfilled the role of President of the Laser and Fiber Optic groups of Uniphase Inc. (now JDS Uniphase) where he was responsible for the management of business operations in the United States, England, Switzerland and The Netherlands.
He has also been a general partner with VC firm Crescendo ventures.
Emcore and TCIC withdraw US filing; look for alternatives
Emcore Corporation, a provider of compound semiconductor-based components, subsystems and systems for the fiber optics and solar power markets, alongside TCIC has withdrawn a joint filing with the Committee on Foreign Investment in the United States (CFIUS).
The withdrawal was made jointly in response to an indication from CFIUS that it has certain regulatory concerns about the transaction as it is currently proposed.
EMCORE and TCIC had previously made a joint voluntary filing with CFIUS in connection with their proposed transaction, whereby the Company would sell a sixty percent (60%) interest in its Fiber Optics business (excluding its satellite communications and specialty photonics fiber optics businesses) to TCIC in exchange for $27.75 million in cash, subject to certain adjustments.
In response to the indication from CFIUS, EMCORE and TCIC remain willing to explore alternative means of cooperation that would address regulatory concerns and meet the parties' objectives.
At the time that EMCORE and TCIC withdrew their joint application, the parties notified CFIUS that they would not go forward with the proposed transaction in the form originally presented to CFIUS.
"While addressing any regulatory requirements, EMCORE remains committed to seeking other means of cooperation that would meet the objectives of EMCORE and TCIC.
“We will continue to explore a broad strategy with TCIC, or with alternative partners, to meet the Company's objectives of: 1) creating a low-cost manufacturing base for its Fiber Optics business 2) separating EMCORE's Photovoltaics and Fiber Optics businesses to become pure plays in each of the business segments, and 3) providing EMCORE with improved liquidity to launch its concentrator photovoltaics (CPV) business," said EMCORE President and Chief Executive Officer, Dr. Hong Q. Hou.
Skyline Solar hires new CEO
Skyline Solar, a US manufacturer of High Gain Solar (HGS) arrays for commercial, industrial, government and utility markets, has hired Thomas Rohrs to join the company as CEO.
Rohrs will also join the Skyline Solar Board of Directors.
Rohrs brings more than 30 years of technology executive management experience to Skyline Solar, including the past 13 years as an executive, board member and advisor for companies in the semiconductor, renewable and solar energy industries, such as Applied Materials, Electroglas, Bloom Energy and Abound Solar.
Bob MacDonald, Skyline Solar’s co-founder and former CEO, will transition into the Skyline Solar CTO role.
“Having hit a number of critical product, financing and customer milestones over the past two years, Skyline Solar has reached an important inflection point in its growth,” said Bill Keating, Skyline Solar’s executive chairman.
Rohrs has served in executive positions at some of Silicon Valley’s top technology companies including Applied Materials, Silicon Graphics and HP.
Prior to Skyline Solar, Rohrs spent three years as chairman and CEO of Electroglas.
