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06/12/2008 10:51 AM
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GE Takes Majority Stake in PrimeStar
SustainableBusiness.com News
GE Energy has increased its equity share to take a majority interest in solar thin-film firm PrimeStar Solar, Inc.
GE is putting increasing emphasis on its solar portfolio as energy costs continue to rise.
"Increasing our stake in PrimeStar Solar to a majority interest underscores our continuing commitment to solar energy. GE Energy believes that renewable resources, including wind and solar, will play an ever increasing role in the future of the global energy industry," says Victor Abate, Vice President of Renewables for GE Energy.
PrimeStar Solar was formed in June 2006 to develop and commercialize thin-film photovoltaic modules. The company has 60 employees, with a core management team with extensive experience in thin-film equipment and process manufacturing.
