By Tess Stynes
First Solar Inc. (FSLR) reached a collaboration and licensing
agreement with Intermolecular Inc. (IMI) aimed at improving the
efficiency of First Solar's cadmium-telluride photovoltaic
technology.
In recent premarket trading, First Solar shares were up 2.8% at
$13.18. Through Friday's close, the stock is down roughly 62% this
year.
Under the agreement, First Solar will use Intermolecular's
technology platform, which allows research-and-development
experimentation to be performed much more quickly than traditional
methods.
Financial terms weren't disclosed.
First Solar said in a statement the collaboration addresses new
opportunities in certain critical materials and processes that may
significantly influence the efficiency of its cadmium-telluride
photovoltaic technology.
Separately, First Solar said it was chosen for two utility-scale
solar projects totaling 159 megawatts for AGL Energy Ltd. (AGK.AU)
under the Australian government's program to support solar energy
projects.
First Solar last month reported it swung to a first-quarter loss
on lower revenue and more than $400 million in restructuring
costs.
Intermolecular shares closed Friday at $6.43 and were inactive
premarket. The stock is down nearly 36% from its November initial
public offering price of $10 a share.
Write to Tess Stynes at Tess.Stynes@dowjones.com