Midsummer supplies production lines for manufacturing of flexible thin film CIGS solar cells on stainless steel. Its financial report has just been released, showing that revenues have increased from 14.9 million Swedish Krona (SEK) to 43.5 million SEK with a profit of more than 10 million SEK.
The company has gained considerable attention in the global solar energy industry due to its fast growth and innovative thin film CIGS solar cell manufacturing process. This employs the technique of sputtering on all layers of the solar cell resulting in cost effective and scalable production of thin film solar cells. It has on several occasions been named Sweden’s hottest technology company and was the fastest growing cleantech company in the Europe, Middle East and Africa (EMEA) region in 2007-11.
“The global solar cell market is facing a paradigm shift” said Sven Lindström, CEO, Midsummer. “Fewer large solar energy parks are being built in Europe. Instead, focus is moving to installations on large buildings in cities. The lightweight and flexible thin film solar cells are ideal for this use. It is economically and environmentally more beneficial to use solar energy locally, where it is produced.”
CIGS flexible solar modules are growing in popularity due to their low weight, flexibility and durability. They are typically used for applications such as floating modules, vehicles, landfills, portable power generation and membrane roofs on factories, offices and other structures not strong enough for traditional glass modules.
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