Applied Ventures Invests In Solar Wafer Manufacturer Solaicx

Santa Clara, CA - Applied Ventures, LLC, the venture capital fund of Applied Materials, Inc., recently announced that it has invested $3.0M in Solaicx, a private manufacturer of cost-effective, single-crystal silicon wafers for the solar photovoltaic (PV) industry. Solaicx plans to use the investment to expand its business with a second U.S. manufacturing site, scheduled for 2007 operation.

Solaicx's technology is based on proprietary, continuous Czochralski (CZ) crystal growing methodology that enables the high-volume manufacturing of cost-effective, high-quality ingots for conversion into solar wafers. The Solaicx crystal growing equipment is expected to be up to five times more productive than traditional CZ systems that were designed primarily for the semiconductor industry.

"Our investment in Solaicx aligns well with Applied Materials' solar strategy and enables Applied to expand its presence in the solar value chain," said J. Christopher Moran, vice president and general manager of Applied Ventures. "Applied is committed to providing the solar industry with technology and process innovations to reduce the cost per watt of solar power. Solaicx meets these requirements – offering improved manufacturing technology to facilitate the streamlined manufacturing of solar cell wafers."

Solaicx has a proven management team that includes Bob Ford, president and CEO, Bill Yerkes, chief technical officer and solar industry pioneer, and John Sedgwick, vice president and co-founder. Michele Klein, an investment manager with Applied Ventures, will join the Solaicx board as an observer. "Having Applied Materials as an investor and a willing resource as we execute our manufacturing expansion is extraordinarily valuable," said Bob Ford. "Solaicx plans to use Applied Materials' equipment and manufacturing expertise to assist in fully capitalizing on our market opportunities."

SOURCE: Applied Ventures