Siemens acquires stake in the US-based solar company Semprius
Next-generation technology high concentrating photovoltaics promises maximum efficiency
Siemens has acquired a minority share of about 16 percent in the U.S. pioneering solar
company Semprius. Headquartered in Durham, North Carolina, Semprius has developed
high concentrating photovoltaic (HCPV) modules and will begin construction of its first
production facility in July, 2011. This investment gives Siemens an early access to a highly
promising technology for CO2-free power generation from solar energy. The parties have
agreed not to disclose the details of the investment.
"Participating in Semprius provides us access to a trailblazing technology for clean power
generation," says Martin Schulz, Vice President of Photovoltaics in the Renewable Energy
Division. "Siemens will act as a strategic investor to help Semprius scale up its innovative
technology to market maturity. We believe the prospects are bright for high concentrating
photovoltaic systems that enable significantly higher efficiencies than conventional PV modules
and at the same time offer enormous potential to achieve competitive levelized costs of electricity."
The market for HCPV installations is still in its early stages but is expected to grow to a volume of
up to six gigawatts by 2020. HCPV systems are a prime alternative to conventional photovoltaics
and are especially suitable for regions with high direct irradiance.
Semprius’ HCPV modules use high-performance lenses to focus the sun's light onto very small,
highly efficient (>40% NREL Certified) cells which convert the solar energy directly into electric
current. Apart from its excellent conversion performance and very low cost, other features such as
its high reliability, modular configuration and flexible plant design make this technology particularly
appealing. Modules built with Semprius’ patented production process have been on sun for several
years and the first full test installation has been operational in Arizona since August 2010;
additional installations are scheduled to follow before the end of this year. “We are very pleased
to bring Siemens in as a strategic investor as we scale up our capabilities to production levels,”
said Joe Carr, Semprius President and CEO, “their far-reaching presence and strength in the
renewable market offer us an immediate global footprint.”
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Siemens AG
Corporate Communications and Government Affairs
Wittelsbacherplatz 2, 80333 Munich
Germany
Reference number: EREJJJJMM.###x xx
Media Relations: Eva-Maria Baumann
Telephone: +49 9131 18-3700
E-mail: eva-maria.baumann@siemens.com
Siemens AG
Energy Sector - Renewable Energy Division
Freyeslebenstr. 1, 91058 Erlangen, Germany
Currently, Siemens acts as a general contractor on solar projects, responsible for the planning,
engineering, delivery and installation of solar power generating systems. With this deal, Siemens
has opened the door to possibly extending from its current EPC (engineering, procurement and
construction) model into this advanced photovoltaic market.
Components for photovoltaic installations are part of Siemens’ Environmental Portfolio with which
the company earned revenues of nearly EUR28 billion in fiscal year 2010. This makes Siemens the
world's largest provider of environmentally compatible technology. In the same period, our
products and solutions enabled customers to reduce their carbon dioxide emissions by 270 million
tons, an amount equal to the total annual CO2 emissions of Hong Kong, London, New York, Tokyo,
Delhi and Singapore.
The Siemens Energy Sector is the world’s leading supplier of a complete spectrum of products, services and solutions
for the generation, transmission and distribution of power and for the extraction, conversion and transport of oil and gas.
In fiscal 2010 (ended September 30), the Energy Sector had revenues of approximately EUR25.5 billion and received
new orders totaling more than EUR30.1 billion and posted a profit of more than EUR3.3 billion. On September 30, 2010,
the Energy Sector had a work force of more than 88,000. Further information is available at: www.siemens.com/energy.
Semprius, Inc., is commercializing High Concentration Photovoltaic (HCPV) modules for commercial, institutional and
large-scale utility power generation in sunny climates. The company’s patented micro-transfer printing process along with
mature semiconductor and printed circuit board technologies enable reduced cost and increase performance and
reliability. For more information, please visit www.semprius.com.
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Siemens AG
Corporate Communications and Government Affairs
Wittelsbacherplatz 2, 80333 Munich
Germany
Reference number: EREJJJJMM.###x xx
Media Relations: Eva-Maria Baumann
Telephone: +49 9131 18-3700
E-mail: eva-maria.baumann@siemens.com
Siemens AG
Energy Sector - Renewable Energy Division
Freyeslebenstr. 1, 91058 Erlangen, Germany