TSMC buys into US solar firm

Taiwanese foundry giant TSMC said it has spent $50 million to take a 21 percent stake of US company Stion.

Stion is a manufacturer of thin film solar photovoltaic (PV) modules, and has thin film part of the agreement, Stion will license its technology to TSMC. TSMC, in return, will provide a quantity of completed modules to Stion.

The two companies will also work on further developing thin film technology.

According to Rick Tsai, TSMC’s new business president, his company gains a robust thin film technology with a low cost structure. He said TSMC believes it can become the overall leader in solar photovoltaic products.

Stion received venture capital funding from Khosla Ventures, Lightspeed Venture Partners, General Catalyst Partners and Braemar Energy Ventures.