REC Group announced that it has signed a memorandum of understanding for a strategic collaboration with Meyer Burger. REC Group is looking to further leverage on the already existing collaboration.
REC intends to now increase its 600MW HJT and SmartWire Connection Technology production capacity for Alpha, using equipment from Meyer Burger, to multiple GW in cooperation with a potential strategic partner. REC is actively reviewing potential partners for the expansion. In exchange for adequate exclusivity protection for specific HJT and SWCT technology, REC is in principle prepared to enter into a profit-sharing agreement with Meyer Burger. The terms for this are to be agreed by the companies and their respective Boards. Building on the leading expertise that Meyer Burger brings to the table, REC is confident that this intense collaboration will create significant long-term company value for both parties and will reshape the market.
REC Group's CEO Steve O'Neil states: "Together with Meyer Burger, REC developed the industry's flagship panel, the Alpha. We are confident that strengthening our partnership with Meyer Burger will further drive innovation and higher efficiencies, the only way to strongly empower consumers with clean and affordable solar energy and accelerate energy autonomy of communities worldwide."
"As the leading premium and integrated non-Chinese solar panel manufacturer, and with its reputation for operational excellence, REC is the ideal partner to continue the commercialization of Meyer Burger's high efficiency PV technologies," comments Hans Brändle, CEO of Meyer Burger.