Intermolecular, Inc.
11.06.2012 14:25
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Collaboration Will Leverage Intermolecular's High Productivity Combinatorial
Platform Towards Achieving Higher CdTe Solar Panel Efficiencies
TEMPE, Ariz and SAN JOSE, Calif., 2012-06-11 14:25 CEST (GLOBE NEWSWIRE) --
First Solar, Inc. (Nasdaq:FSLR) and Intermolecular, Inc. (Nasdaq:IMI) today
announced a collaboration and licensing agreement aimed at accelerating the
efficiency roadmap for First Solar's cadmium-telluride (CdTe) photovoltaic (PV)
technology. First Solar is the world's largest thin film PV solar module
manufacturer and the leader in thin film PV utility-scale solar power plants.
Under a newly signed collaborative development program, First Solar will
leverage Intermolecular's High Productivity Combinatorial (HPC) platform in the
development of its advanced, CdTe-based, thin film PV manufacturing technology.
The program addresses new opportunities in certain critical materials and
processes that may significantly influence the conversion efficiency of CdTe
technology. Technical work is to be performed jointly at Intermolecular's San
Jose, Calif., facility and in First Solar's research and development labs.
'We are excited to engage in this ongoing collaboration with Intermolecular,'
said Raffi Garabedian, First Solar Chief Technology Officer. 'Further improving
our world-record CdTe conversion efficiencies remains a strong lever to reduce
the cost of solar energy. We evaluated Intermolecular's HPC platform and
technical team in a trial collaboration, and this experience confirmed the
suitability of the platform for our purposes.'
First Solar set a new world record for CdTe PV solar module efficiency in
January 2012, achieving 14.4 percent total area efficiency. In July 2011, the
company set a world record for CdTe PV cell efficiency at 17.3 percent. Both
records were confirmed by the U.S. Department of Energy's National Renewable
Energy Lab (NREL).
Craig Hunter, Intermolecular's senior vice president of Global Sales &
Marketing, commented, 'Leveraging our HPC platform to accelerate the PV roadmap
is central to our mission at Intermolecular. Today's announcement with First
Solar - a market leader in PV and the undisputed champion in thin film PV -
represents tremendous validation of that proposition, particularly given the
extensive technical due diligence the First Solar team conducted prior to
entering into this agreement.'
Intermolecular's mission is to improve R&D efficiency in the semiconductor and
clean-energy industries through collaborations that use its HPC platform, which
allows R&D experimentation to be performed at speeds up to 100 times faster
than traditional methods.
About Intermolecular, Inc.
Intermolecular(r) has pioneered a proprietary approach to accelerate research
and
development, innovation, and time-to-market for the semiconductor and
clean-energy industries. The approach consists of its proprietary High
Productivity Combinatorial (HPC(TM)) platform, coupled with its
multi-disciplinary team. Through paid collaborative development programs (CDPs)
with its customers, Intermolecular develops proprietary technology and
intellectual property for its customers focused on advanced materials,
processes, integration and device architectures. Founded in 2004,
Intermolecular is based in San Jose, California. 'Intermolecular' and the
Intermolecular logo are registered trademarks; and 'HPC' is a trademark of
Intermolecular, Inc.; all rights reserved. Learn more at
www.intermolecular.com.
The Intermolecular, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=11116
For Intermolecular investors
Statements made in this press release that are not statements of historical
fact are forward-looking statements. Forward-looking statements are subject to
the 'safe harbor' provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements in this press release relate, but are not
limited, to (i) the ability of the company's HPC platform to greatly accelerate
research and development for its customers generally, and for First Solar in
particular; and (ii) the anticipated validating impact of signing the First
Solar agreement on the company's ability to acquire new customers.
Forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from expectations, including but not
limited to (i) the risk that projects may fail to produce measurable success or
value to the company's customers due to loss of key personnel, failure of
suppliers to deliver necessary materials in a timely manner, the inability to
protect intellectual property rights or other reasons; (ii) the company's
ability to acquire new customers; and (ii) other risks detailed from time to
time under the heading 'Risk Factors' in the Company's report on Form 10-K for
fiscal year 2011, and its subsequent reports on Form 10-Q for fiscal year 2012.
Forward-looking statements speak only as of the date the statements are made
and are based on information available to the company at the time those
statements are made and/or management's good faith belief as of that time with
respect to future events. The company assumes no obligation to update
forward-looking statements to reflect actual performance or results, changes in
assumptions or changes in other factors affecting forward-looking information,
except to the extent required by applicable securities laws. Accordingly,
investors should not place undue reliance on any forward-looking statements.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic solar
systems that use its advanced thin-film modules. The company's integrated power
plant solutions deliver an economically attractive alternative to fossil-fueled
electricity generation today. From raw material sourcing through end-of-life
module collection and recycling, First Solar's renewable energy systems protect
and enhance the environment. For more information about First Solar, visit
www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements which are made pursuant to the
safe harbor provisions of Section 21E of the Securities Exchange Act of 1934.
The forward-looking statements in this release do not constitute guarantees of
future performance. Those statements involve a number of factors that could
cause actual results to differ materially, including risks associated with the
company's business involving the company's products, their development and
distribution, economic and competitive factors and the company's key strategic
relationships and other risks detailed in the company's filings with the
Securities and Exchange Commission. First Solar assumes no obligation to update
any forward-looking information contained in this press release or with respect
to the announcements described herein.
CONTACT:
Intermolecular
Media:
Ed Korczynski
Marketing Communications Director
edk@intermolecular.com
+1.408.582.5629
Investors:
Gary Hsueh
Sr. Director of Corporate Development and Investor Relations
gary.hsueh@intermolecular.com
+1.408.582.5635
First Solar
Media:
Alan Bernheimer
Americas Public Relations Director
media@firstsolar.com
(415) 935-2499
Investors:
David Brady
Vice President Investor Relations
dbrady@firstsolar.com
(602) 414-9315
Michelle Pereira
Manager Investor Relations
michelle.pereira@firstsolar.com
602 414-9315
News Source: NASDAQ OMX
11.06.2012 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Intermolecular, Inc.
United States
Phone:
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ISIN: US9901240674
WKN:
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DGAP-News: First Solar and Intermolecular Announce Joint Program to Accelerate Solar PV Roadmap
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