Hanergy snaps up Alta Devices
China’s Hanergy continued its buying spree, picking up solar developer Alta Devices, according to Greentech Media. Hanergy has already picked up MiaSole, Global Solar Energy and Solibro as East Asian buyers have become the acquirer of last resort for embattled U.S. and European solar makers.
Alta Devices has always caught headlines because it holds efficiency records above 30 percent for dual-junction solar cells. The lingering question for the company has always been can Alta Devices produce at scale and be cost competitive.
The messaging from the company had started to shift in the recent past as the company spoke of military applications and solar charging, areas that are less price sensitive. Apparently utility scale or even rooftop solar wasn’t looking likely.
An iPad cover that could actually provide sufficient charge would probably find a market and the military could help as it has a history of buying experimental technology. But Alta picked up $120 million in VC and right now it’s looking like another promising solar startup that couldn’t produce next generation technology at cost competitive scale.
Hey Neil. Yeah, it’ll be interesting to see what Hanergy does with Alta Devices. I do wonder if being Chinese owned impacts their ability to sell to the U.S. military. The efficiency figures remain impressive and I would hope an application could be found for the tech.
It’s a shame to see Alta scooped up. They seemed like a company poised to do something creative with solar power by tailoring it to mobile devices, and with the backing from the military, one would think they could hold out long enough to price the technology competitively. So it goes. Hanergy seems like a solar technology boneyard…Thanks for the update Adam.