FREE subscription
Subscribe for free to receive each issue of Semiconductor Today magazine and weekly news brief.


7 March 2008


DayStar signs letter of intent with Juwi Solar

DayStar Technologies Inc of Santa Clara, CA, USA has signed a letter of intent identifying Juwi Solar GmbH of Mainz, Germany as a sales partner in commercializing its copper indium gallium diselenide (CIGS) thin-film photovoltaic glass modules.

Renewable energy firm Juwi will work closely with DayStar in the early stages of production to test and evaluate modules in field installations and assist with third-party qualifications required for financing large utility power plants. The letter will conclude when the two firms enter into a definitive sales agreement that would commit Juwi to procure up to 25% of DayStar’s production through 2011.

For almost 12 years, Juwi has developed, financed and operated wind, solar and bio energy projects, and has 260 staff developing projects in 10 countries on four continents. By the end of 2007, it had developed more than 600 PV power plants with a total capacity of about 80MWp. In 2008, juwi projects that it will install an additional 120MWp, and it is currently constructing a 40MWp ( megaWatt-peak) power plant near Brandis, east of Leipzig, Germany, which (when complete) will be the world’s largest grid-tied PV system, it is claimed.

“The experience they [Juwi] have with thin-film modules in particular will be invaluable to our commercialization activities,” reckons DayStar’s VP of sales and marketing, Terry Schuyler. “We look forward to a long-term sales relationship that can assist us in entering into current and emerging markets worldwide.”

“Engaging DayStar at this important stage of their commercialization is critical to ensuring our well-designed and cost-effective system solutions,” says Juwi Solar’s managing director Lars Falck. “We believe DayStar’s CIGS modules can offer us a competitive cost and performance advantage in meeting our aggressive growth plans for the future,” he concludes.

*DayStar has also reported a rise in net loss from $20.4m in 2006 to $36.1m in 2007, mainly due to an increase (to $21.2m) in non-cash expenses.

However, at the end of 2007, DayStar had cash and US treasury funds of $61.4m (compared with just $2.9m at the end of 2006) after raising $63.8m in a public offering of shares last October.

*In late Febraury, DayStar’s chief financial officer Raja Venkatesh resigned (effective 14 March) to pursue other opportunities. 

Chris Lail, DayStar’s controller since July 2005 and acting chief accounting officer since November 2006, will serve in the interim while the firm seeks a new CFO.

See related items:

DayStar appoints Silicon Valley veteran as president and COO

DayStar prices public offering to raise $63.8m

Search: DayStar CIGS Thin-film photovoltaic