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Intel forms solar cell company
By MB-BigB | June 18, 2008
As reported by MarketWatch, Intel Corp said that they are going to spin off key assets of its business initiatives group to create a new independent company that will make solar cells.
Intel said that its investment unit, Intel Capital, is making a $50 million investment into the new company called SpectraWatt Inc. Intel is forming the company with Cogentrix Energy and Solon AG. They expect SpectraWatt to break ground on a manufacturing and development facility the second half of 2008. Located in Oregon, they expect first shipments of solar cells to start in mid 2009.
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Topics: Solar Power |