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Solar


AMONIX BUYS SUNWORKS, GETS NEW CEO

Amonix, a long-time concentrating solar power developer, turns to a former
executive at SunEdison to be its chief executive.

Ucilia Wang December 22, 2009
X
Ucilia Wang







Amonix Buys Sunworks, Gets New CEO

 * 1



Concentrating photovoltaic equipment manufacturer Amonix has bought Sunworks
Solar and appointed one of Sunworks' co-founders as its new CEO.

Brian Robertson became Amonix's chief executive last month, he said Tuesday. The
Seal Beach, Calif.-based Amonix has been around since 1989 and reportedly has
seen its equipment in more concentrating solar power projects than any other
manufactures in the world.  

Amonix also has appointed two other Sunworks' executives to its management
positions. Guy Blanchard, also a Sunworks co-founder, will be vice president of
sales and corporate development. Matthew Meares, who previously worked on sales
and project development at Sunworks, is now director of project finance at
Amonix.

Concentrating photovoltaic (CPV) systems make use of mirrors and lenses to
concentrate the sunlight onto solar cells to boost the cells' electricity
production. Amonix uses acrylic lenses and mounts it 55-foot long solar panels
on trackers to keep them facing the sun, Robertson said.

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The acquisition reflects Amonix's interest in bringing on managers with lots of
experiences in solar rather than expanding to a new sector in solar. The
companies declined to disclose the purchase price.

Robertson co-founded San Francisco-based Sunworks in 2008 to manufacture
amorphous silicon solar panels. Earlier this year, the company was in talks with
the state of New York about building a 75-megawatt factory there (See Sunworks
Solar Steps Out With Thin-Film Factory Plan).

But stands out on Robertson's resume, however, are his ties to SunEdison. He was
president of SunEdison, one of the largest solar power project developers in the
United States, before starting Sunworks.



SunEdison develops and owns solar energy systems and sells the resulting
electricity under long-term contracts to mostly businesses, utilities and
government agencies. Silicon wafer maker, MEMC Electronic Materials (NYSE: WFR)
bought SunEdison for $200 million in cash and stock last month (see MEMC Invests
in Another Installer: Tioga Energy).

Blanchard, on the other hand, was a managing director of Fortress Investment
Group's Drawbridge funds before he co-founded Sunworks. Meares was with
Germany-based HSH Nordbank before Sunworks and worked on loans and equity deals
in the power business at the bank.

Amonix doesn't plan to become an amorphous silicon solar panel maker, Robertson
said. Sunworks never built that factory in New York, he added.

Robertson has replaced Vahan Garboushian, who founded Amonix about 20 years ago.
Garboushian remains the company's chief technology officer and chairman.

The company has been installing projects for 15 years, making it a pioneer in a
solar sector that has seen a series of startups in recent years (see CPV Pt. 1:
Stuck in the Middle).

The company has seen nearly 13 megawatts of equipment being used by developers
worldwide. Most of them are in Spain, including a 7.8-megawatt one in the
Navarra region. Other projects are located in Arizona and Nevada (see map).

Concentrating photovoltaic developers say their technologies could deliver
cheaper solar electricity than power from conventional solar power panels
because they use lenses to concentrate the sunlight to squeeze more power from
solar cells. They typically use more expensive solar cells that can convert
sunlight into electricity at higher rates, but they use only slivers of them to
cut costs.



This type of solar energy systems is suitable for dry, sunny climate like the
American southwest. Robertson said the systems don't require any heavy use of
water, unlike the solar thermal power projects that have been proposed in the
desert.

"We think CPV will end up taking market share from" solar thermal power
developers, Robertson said.

Amonix has a factory that can assemble 30 megawatts of solar panels per year.
Each solar panel is consisted of the acrylic Fresnel lenses and multijunction
solar cells with gallium-arsenide and other semiconductor compounds. The company
main solar cell supplier is Sylmar, Calif.-based SpectroLab.

Amonix designs its own trackers but hire another manufacturer to make them.
Robertson declined to name the contract manufacturer.

Each tracker can hold up seven panels, which collectively have 72 kilowatts of
generation capacity, Robertson said.

"It's bigger than any other tracker in the industry, and the design has been
perfected over 15 years of field deployment," he said. 

Amonix recently raised $40 million, according to its filing with the U.S.
Securities and Exchange Commission last month. The company's website lists
MissionPoint Capital Partners as an investor. 

 

Photo: courtesy of Amonix



 * cpv


10.23.21 Fossil Fuels


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10.21.21 Finance & VC


WHERE WILL DOE’S LOAN PROGRAM MAKE THE NEXT CLIMATE TECH INVESTMENTS?

10.14.21


WITH AN ENERGY CRISIS BREWING, NO PEAK IN SIGHT FOR EMISSIONS


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