First Solar Acquires Evolar AB
May 12, 2023
First Solar, Inc. acquired Evolar AB, a Sweden-based developer of perovskite and thin-film photovoltaics, to accelerate development of high-efficiency tandem PV technology. The deal includes approximately $38 million paid at closing plus up to $42 million in contingent milestone payments and brings roughly 30 Evolar R&D staff into First Solar while establishing First Solar's first European R&D facility in Uppsala.
- Buyers
- First Solar, Inc.
- Targets
- Evolar AB
- Industry
- Renewable Energy
- Location
- Sweden
- Transaction Type
- Buyout
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