BEIJING Aug 13 Chinese clean energy generator
Hanergy Holding Group Ltd on Wednesday said it has broadened its
solar power technology portfolio with the purchase of Alta
Devices Inc, a California-based developer of thin-film solar
The acquisition comes a year after Hanergy bought
Arizona-based Global Solar Energy Inc, which in turn followed
the purchases of Silicon Valley start-up MiaSole and Germany's Q
Cells AG subsidiary Solibro GmbH.
Hanergy bought all of Alta Devices to further strengthen the
Chinese company's position in the solar technology market, the
parent of Hanergy Solar Group Ltd said in a statement
without disclosing the purchase price.
"Hanergy plans to actively expand the application of Alta
Devices' products in various mobile power application areas,
ranging from emergency charging of mobile phones, to the
automotive sector and the Internet of Things," Hanergy said in
Alta Devices, established in 2008, bases its solar cell
technology on gallium arsenide rather than the more commonly
Its cells can convert 30.8 percent of light received into
electricity, Alta Devices Chief Executive Chris Norris said at a
news conference called to announce the acquisition. That
compared with an industry standard of around 25 percent.
That rate of conversion is the highest in the world and is
high enough to even turn light received from indoor lighting
into electricity, Norris said on Thursday in Beijing.
Alta Devices wants to see its technology used in electronics
products and vehicles, and hopes Hanergy will build a factory to
help realise that goal, Norris said.
Gallium arsenide is more expensive than silicon so Hanergy
will work to lower production costs, Hanergy Chief Executive Li
Hejun said at the news conference.
(Reporting by Stian Reklev; Editing by Christopher Cushing)