GT acquires Missouri solar tech firm

August 25, 2011

NH Business Review Staff,

GT Advanced Technologies has acquired Confluence Solar Inc., a three-year old privately held Missouri company, in an $80 million cash deal that will give the New Hampshire-based firm the technology to enable it to manufacture furnaces that more efficiently make solar cells.Confluence, based in Hazelwood, Mo., outside St. Louis, started in 2008 after landing a $12 million venture capital investment. But the company — after getting some initial tax credits from its home state — irked local officials by deciding to build a $200 million manufacturing facility in East Tennessee.GT, of Merrimack, N.H., was interested in Confluence’s continuously-fed Czochralski (CCz) growth technology, which enables the production of high-efficiency monocrystalline solar ingots. GT bought the Confluence for $60 million in cash, with an additional $20 million of cash earn-outs payable upon the achievement of certain financial and technical milestones through GT’s fiscal year 2013. — BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW

Categories: News

More news from NHBR:

Artistic expression at the Currier Museum

Jordana Pomeroy, director and CEO of the Currier Museum of Art in Manchester, talks art, community ties and Granite State creativity with NHBR editors

2025 Leadership Unscripted Panelists

Here are the panelists for the 2025 Leadership Unscripted event.

2024 Leadership Unscripted Panelists

Here are the panelists for the 2024 Leadership Unscripted event.

Casino Salem to close next month for construction

Casino Salem will close its doors in the early hours of March 9, as Churchill Downs Inc. prepares for a major redevelopment to transform the small gaming venue into the much larger Rockingham Grand Casino.

Lebanon’s Route 120 corridor could see mixed-use development

Developers and city officials have long eyed the northern part of Lebanon, along Route 120, as a hot spot for new housing and businesses, and the result has already been evident with large apartment complexes cropping up there in recent years.

Does Portsmouth HDC drive up development cost?

City Councilor Rich Blalock, who served four years as the council’s representative on the HDC, said he was motivated to make the initial motion to address the lack of affordable housing in Portsmouth. He contended the HDC’s often monthslong reviews of new construction projects drives up the cost of development.