IQE says its CPV materials achieve major milestone

8th Aug 2013 15:42

IQE said its concentrated photovoltaic (CPV) semiconductor wafers had been qualified for high-volume manufacturing by its strategic partner Solar Junction. The Cardiff-based semiconductor materials maker said: "This qualification is a major milestone which has required extensive validation of IQE's manufacturing processes, product quality and reliability in delivering material with cutting edge solar efficiency."Its partner Solar Junction is now at an advanced stage in qualifying its solar energy cells with the leading manufacturers of CPV systems and expects to receive initial high volume orders in coming months. IQE Chief Executive Drew Nelson said: "The successful qualification of IQE's production scale epiwafers for CPV marks a key milestone in bringing Solar Junction's advanced technology to market."Bob Liao, analyst at Canaccord Genuity said: "IQE appears on track for the anticipated ramp in CPV revenues in the second half of 2013.Liao, who has a 'buy' rating on IQE with a 65p target, added: "Today's announcement gives us confidence in our earnings forecast."Shares in IQE were up 7.3% to 25.75p at 15.50 on Thursday.TB