Hsinchu, Taiwan, R.O.C. and San Jose, CA – June 16, 2010 – Taiwan Semiconductor Manufacturing Company, Ltd. (TSMC, TWSE: 2330, NYSE: TSM) and Stion Corp., a manufacturer of high-efficiency thin-film solar photovoltaic modules, today announced that the two companies have reached a series of agreements covering technology licensing, supply, and joint development.
In addition, VentureTech Alliance, a TSMC affiliate, will invest US$50 million to take a 21 percent stake in Stion.
Under the agreements, Stion licenses and transfers its thin-film CIGSS technology to TSMC, while TSMC will provide a certain quantity of solar modules to Stion using the technology. TSMC and Stion will also work together to enhance the thin film technology through joint development.
“Working with Stion, TSMC gains a robust thin film technology with inherent low cost structure. With TSMC’s R&D capabilities and manufacturing expertise, we believe we can achieve long-term overall leadership in solar PV solutions, and we are happy to be able to contribute to a greener economy,” said Dr. Rick Tsai, TSMC’s President of New Businesses.
“We are pleased to form a win-win relationship with TSMC, a world-class company. The collaboration enables Stion to scale its operations, leverages both companies’ strengths to achieve market leadership and to deliver on the promise of efficient, affordable solar energy” said Chet Farris, President and CEO of Stion.
TSMC and Stion will not make public further details of these agreements.
Taiwan Semiconductor Manufacturing Company, Ltd. (TSMC) is the world’s largest pure-play semiconductor foundry, and transformed the semiconductor industry with its pioneering business model of focusing solely on manufacturing customers’ semiconductor designs. Headquartered in Hsinchu, Taiwan, TSMC serves more than four hundred customers and manufactures over seven thousand products for them each year, representing almost 8 percent of global IC wafer shipments. In 2009, TSMC began pursuing further growth through new businesses, focusing on solar energy and LED lighting. For more information about TSMC please visit http://www.tsmc.com.
Stion is a US-based manufacturer of high-efficiency thin-film solar panels based on state-of-the-art materials and device technology and proven production processes. Stion was founded in 2006 and is backed by leading venture capital investors, including Khosla Ventures, Lightspeed Venture Partners, General Catalyst Partners, and Braemar Energy Ventures. www.stion.com