Taiwanese semiconductor firm investing $50m in US solar-panel maker - Jun 25 2010 00:00:02

e14news — Thu, 07 Oct 2021 05:24:32 GMT

Current Revision posted to Documents by e14news on 10/7/2021 5:24:32 AM
The world's top semiconductor chip maker by revenue is using its venture capital unit to invest $50 million (£34 million) in a US solar panel company.

Taiwan Semiconductor Manufacturing (TSMC) will inject funds into California-based firm Stion, taking a 21 per cent stake in the business.

Last year, TSMC purchased 20 per cent of Taiwanese organisation Motech Industries, the country's largest producer of solar cells, at a cost of $192 million.

According to a statement on its website, the chip maker's deal with Stion means the American manufacturer will license and transfer its thin-film technology to the semiconductor company.

TSMC employs around 20,000 staff worldwide and, in 2007, recorded sales of $9.83 billion.

Agence France-Presse reports that the country's government has estimated its solar energy industry will be worth £6.83 billion by the year 2020 and, last year, it passed a bill to install between 6,500 and 10,000 megawatts in renewable power systems across the territory over the next 20 years.