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An Applied Materials news release said the acquisition includes substantially all the assets, including intellectual properties, of Advent Solar.
Advent, which began operations in 2003, designed silicon-based photovoltaic cells and modules under the trademark Ventura Technology. It cut a substantial portion of its work force -- 55 people -- in January, saying it was unable to raise the money needed to move into commercial-scale production of its products.
Advent officials were not immediately available for comment Friday.
Applied Materials spokesman David Miller told the Journal that some of Advent's remaining employees, including James Gee, Advent founder and chief scientist, will join Applied Materials. Gee could not be reached late Friday.
He said the company will maintain Advent's Albuquerque location for a period of time. "But probably, ultimately, we'll move that into our global facilities elsewhere."
Applied Materials is a supplier of equipment and services to the solar photovoltaic industry, with $5 billion in sales and 12,000 employees worldwide, Miller said. Advent's assets will be integrated with Applied's Energy and Environmental Solutions Group.
"We believe the acquisition ... will increase our opportunities to provide innovative solutions for reducing module production costs," Mark Pinto, chief technology officer and general manager of Applied's Energy and Environmental Solutions Group, said in the release. "Combining Advent Solar's PV technology with Applied's expertise in automated wafering and cell production equipment, we expect to deliver systems that will ... accelerate the reduction in cost per watt of solar electricity."
To see more of the Albuquerque Journal, or to subscribe to the newspaper, go to http://www.abqjournal.com. Copyright (c) 2009, Albuquerque Journal, N.M. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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