ICP Solar Technologies, a Canadian developer, manufacturer and marketer of solar cells, has announced a joint venture with ISE Solar, an American provider of vacuum deposition equipment, to improve solar thin film technology and eventually reduce costs in solar technology.
The companies expect to reduce costs by 25% from its current level by creating one of the most cost efficient thin film facilities in the industry. To start with, this partnership will reduce the annualized operating
expenses of the ICP Solar group by almost $2 million annually, or above 40% of total operating expenses combined for all activities in the ICP Solar group.
"ICP Solar has done a magnificent job of keeping this facility going in the most difficult of contexts. We enter this venture with optimism that we can help the great team in Wales take the factory to the next level. Our investment intentions are far
beyond what ICP Solar could have envisaged on its own and our global team will now work towards the facility's automation and expansion, with focus on solar cell process improvements", Mr Robert Stabinsky, President of ISE Solar, stated.
ICP Solar has its headquarters located in Montreal, Canada, and operates also in the United Kingdom, Spain, USA, Ireland and France.
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