07 March 2013 23:17 [Source: ICIS news]
HOUSTON (ICIS)--Dow Chemical has completed a merger with US photovoltaic (PV) cells and modules producer NuvoSun to support Dow’s solar shingle business, a spokesperson said on Thursday.
NuvoSun uses Copper Indium/Gallium di-Selenide (CIGS) thin films and proprietary technology to produce the PV cells and modules, according to its website.
Dow spokeswoman Kelly Chandler said the merger, which closed on 28 February, is a three-year collaboration that would supply the CIGS PV cells for Dow Powerhouse Solar Shingle.
“This transaction aligns to Dow’s priority uses of cash which includes investing via small, bolt-ons to deliver attractive, high-margin organic growth in our downstream businesses,” Chandler said.
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