Ventegis Capital AG
Ventegis Capital AG: Solar company Sulfurcell receives growth financing
Ventegis Capital AG / Miscellaneous/Miscellaneous Corporate news transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- MASDAR Clean Tech Fund and existing shareholders make joint investment in production build-up and development. Sulfurcell Solartechnik GmbH, the innovative manufacturer of photovoltaic solar modules in Berlin, is to receive growth financing from its shareholders Vattenfall Europe, Ventegis Capital, IBB Beteiligungsgesellschaft, the Business Angel Engelbert Giesen and from its new shareholder Masdar Clean Tech Fund L.P., managed by Credit Suisse (New York). The funds are to be used for product development and production build-up. Former scientists at the Hahn-Meitner-Institute (HMI) started the company Sulfurcell Solartechnik GmbH in 2003 with the aim of using the new, thin film technology for solar modules developed at the HMI in industry. The technology, based on the semi-conductor copper indium sulphide (CIS), combines effective usage of materials with highly productive technology allows up to 50 % less costs in large-scale massproduction than the current technology based on crystalline silicon. After two years of product development the team succeeded in setting up a pilot production in 2006. So far, solar modules with a total power of 200 kilowatts have been produced and sold. Alongside the high powerlevel from the modules, customers appreciate their attractive anthracite-coloured pinstripe design which is particularly favoured for façade integrated solar systems. The solar efficiency was increased to 7.5 %, thus outperforming conventional thin film modules. The new financing is another milestone for Sulfurcell. The newly raised funds are to be used for the further development of solar modules and the dynamic build-up of production. Managing Director and company founder Dr. Nikolaus Meyer defines the aims: 'In both 2007 and 2008 we want to increase production five-fold and step up the efficiency of our solar modules to over 9 %. With our team, our investors and our research partners we are well positioned to achieve these ambitious goals and we look to the future with confidence.' The involvement of Masdar Clean Tech Fund links Sulfurcell to the international capital markets and the Abu Dhabi government’s 'Masdar' initiative for renewable energies. The Masdar Clean Tech Fund was founded in September 2006 by the global financial institution Credit Suisse, the Government of Abu Dhabi, a significant leading global energy player with deep energy expertise, and Consensus Business Group, a leading private investor in environmental and sustainable technologies. Managing Director Nadim Barakat (Credit Suisse New York) explains: 'We are investing in Sulfurcell as one of the young companies richest in potential on the dynamically growing international solar market.' Representing the existing shareholders, Stephan Beyer (Ventegis Capital AG), adds; 'Following the start-up financing in 2003, the existing shareholders are also investing in the new growth financing because important goals have been achieved and we want to develop Sulfurcell into a leading solar manufacturer. Independent consultants deem Sulfurcell to be well positioned for the competition.' Sulfurcell Solartechnik GmbH Dr. Nikolaus Meyer Barbara-McClintock-Str. 11 12489 Berlin Tel.: +49 (0) 30 – 6392 3800 Fax: +49 (0) 30 – 6392 3801 Email: info@sulfurcell.de www.sulfurcell.de DGAP 24.01.2007 ---------------------------------------------------------------------- Language: English Issuer: Ventegis Capital AG Kurfürstendamm 119 10711 Berlin Deutschland Phone: 030-89 021 180 Fax: 030-89 021 189 E-mail: info@ventegis-capital.de WWW: www.ventegis-capital.de ISIN: DE0003304333 WKN: 330433 Indices: Listed: Freiverkehr in Berlin-Bremen; Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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