Total’s subsidiary, Total Gas & Power USA acquires 24.4% interest in U.S. startup AE Polysilicon Corporation (AEP). The acquisition is being made through a reserved capital increase.
AEP, founded in 2006, has honed a low-carbon, energy-efficient process which consumes less energy than conventional methods. It operated continuously to produce competitive granular polysilicon.
The technical cooperation agreement encompasses joint development of projects using AEP technology, assignment of Total personnel, and establishment of a combined research centre. In addition, Total has signed a long term contract to receive high purity granular polysilicon from AEP, in hopes of ensuring cost-competitive supply for the Group’s solar energy subsidiaries.
Philippe Boisseau, President of Total Gas and Power, stated, “This transaction reflects Total’s commitment to becoming a significant photovoltaic solar operator. We will be able to leverage new technology to develop capabilities in yet another link in the photovoltaic solar chain, in addition to our current activities.”
Concurrently, Total is conducting significant research and development collaborating with world-class laboratories in France, such as Laboratoire de Physique des Interfaces et des Couches Minces (LPICM – Interface and Thin Film Physics Laboratory) in Toulouse, the United States, Switzerland, Belgium and Germany.