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Hanergy Holding Group Limited reported that it completed the acquisition of Alta Devices. Following the acquisition, Alta Devices will continue operating independently as its wholly-owned subsidiary of Hanergy. The dual-junction gallium arsenide (GaAs) thin-film solar cells of Alta Devices have a conversion efficiency of 30.8%, as certified by the U.S. National Renewable Energy Laboratory (NREL). The company also employs GaAs in single junction solar cells. Hanergy plans to expand the use of Alta Device products into mobile power application areas ranging from emergency charging of mobile phones to the Internet of Things and the automotive sector.
“Alta Devices’ thin film solar technology allows more energy to be produced in lower light conditions than any other type of solar cell, giving it greater potential to power a wide range of mobile devices and equipment from phones to cars, ” Hanergy chairman and CEO, Li Hejun said.
Chris Norris, Alta Devices president and CEO, said, “This successful acquisition is built upon Alta Devices’ and Hanergy’s shared belief that flexible, thin-film solar technology represents the future of the solar industry.”
Alta Devices asserts that compared to cells with the same surface area, its cells produce two to three times higher power output than standard flexible thin-film cells, 8% higher than mass-produced monocrystalline silicon cells, and 10% higher than multicrystalline silicon cells.
Hanergy completed the acquisition of Solibro from Q-Cells in 2012, and in 2013, Hanergy acquired Miasole and Global Solar Energy.