August 13, 2015 in Advanced Manufacturing, News from Our Companies

Shunfeng to acquire controlling stake in Suniva

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John Baumstark, chairman and CEO of Suniva.
John Baumstark, chairman and CEO of Suniva.

Shunfeng International Clean Energy plans to acquire a controlling interest in Suniva, an Atlanta-based, privately held solar cell and modules maker.

Hong Kong-based Shunfeng’s deal with Suniva, will give it 63 percent of the company, and greater access to the U.S. solar market, the world’s second-largest.

Terms of the deal were not disclosed, but Suniva, a Graduate company of the Advanced Technology Development Center, said the agreement will allow it boost the solar cell power it produces to 400 megawatts from the current 150 megawatts, and create up to 300 jobs — nearly double its current workforce of 350.

“High demand for our products continues to validate that as the U.S. solar market matures, sophisticated buyers are increasingly valuing power density and quality,” John Baumstark, Suniva’s chairman and CEO, said in a statement. “This expansion was encouraged by the U.S. market’s interest in high-quality, high-value American-made solar products.”

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