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Intel spins off new start up in Solar-Cell Market


Tuesday, June 17, 2008 Intel is spinning off an internal new startup business in the solar-cell market.

The internal solar unit is being spun-off into a new company called SpectraWatt Inc.

SpectraWatt will manufacture and supply photovoltaic cells to solar module makers. It expects to break ground on its manufacturing and advanced technology development facility in Oregon in the second half of 2008, with first product shipments expected by mid-2009.

''The formation of SpectraWatt is an important step forward in the renewable energy market,'' said Andrew B. Wilson, SpectraWatt CEO and former general manager in the Intel New Business Initiatives group, in a statement.

By: Docmemory
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