EMCORE, a supplier of compound semiconductor-based parts and subsystems for the use of solar power and fiber optic markets, declared the acquisition of a partial stake in the assets of Soliant Energy.
The Monrovila, CA-based company, Soliant Energy is engaged in designing concentrated photovoltaic (CPV) systems meant for use in commercial rooftop installations.
EMCORE has taken over several assets from Soliant Energy such as the current stock, equipment, licenses, software, tooling, and patents for the rooftop solar energy line of products. The acquisition was finished as a part of an obligation towards the existing creditors of the company. The liabilities of Soliant were not included in the acquisition process.
EMCORE is planning to set up facilities at Alhambra, CA to conduct the previous research and development activities and pilot production. The commercial production is anticipated to be channeled to its low-cost production partner, Suncore located in Huainan, China. EMCORE will retain the key members of the Soliant team in its fold to manage the product and business development, to provide customer support.