Solar

First Solar buys perovskite firm, says tandem PV will ‘define the future’

First Solar buys perovskite firm, says tandem PV will ‘define the future’
First Solar's module manufacturing facility in Ohio (Courtesy: First Solar)

First Solar said it is acquiring Evolar AB, a European firm engaged in perovskite technology, for $38 million and up to an additional $42 million subject to certain future technical milestones.

First Solar said the acquisition is expected to accelerate development of high-efficiency tandem devices, by integrating Evolar’s know-how with its existing research and development streams, intellectual property portfolio, and expertise in developing and commercially scaling thin film PV.

Mark Widmar, CEO, said in a statement, “We anticipate that high-efficiency tandem PV modules will define the future.” He said the acquisition supplements the company’s existing R&D streams with expertise in thin film semiconductors that complement CadTel. “We expect that it will accelerate our efforts to develop tandem technology that continues our commitment to ultra-low carbon, responsibly produced solar.”

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Under the agreement, terms of which were not disclosed, Evolar’s laboratory in Uppsala, Sweden, will continue to conduct research activity. Upon closing, around 30 of Evolar’s R&D staff will join First Solar, working with the company’s scientists at its technology center in Santa Clara, California, and development teams in Perrysburg, Ohio.

Founded in 2019 by veterans of the copper indium gallium selenide (CIGS) industry, Evolar focused on developing manufacturing equipment for commercializing a tandem solar technology utilizing perovskite thin films. The statement said Evolar has produced several thin film efficiency records, including the current 23.6% world record for CIGS research solar cells.

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