Siemens Enters Solar Production Business with Acquisition of Minority Stake in US Firm

Siemens AG (NYSE: SI) has acquired a 16.1 percent stake in Semprius Inc., a U.S. maker of high-efficiency solar modules. It is Siemens’ first acquisition the photovoltaic business. Terms were not disclosed.

Siemens will use its experience as a solar project general contractor to help Semprius set up production. Siemens specializes in planning, designing, delivering and installing solar power generating systems.

Semprius employs 33 people in Durham, N.C., and develops solar modules that increase efficiency by concentrating sunlight on power-producing cells.

“This is a technology that can provide higher efficiency levels than conventional photovoltaic and we have high hopes for it, ” said Siemens’ energy unit spokeswoman Eva-Maria Baumann.

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