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PrimeStar Solar, a startup developing thin-film cadmium telluride (CdTe) solar cells, has sold a majority state to General Electric Energy, a division of tech giant GE.
Founded in 2006, PrimeStar makes use of technology developed in the National Renewable Energy Laboratory. In 2007, the company received around $3 million as part of a DoE grant, and later announced a strategic investment by GE.
Relatively few thin-film manufacturers use CdTe technology, but among them is one of the most successful solar companies around, First Solar. The investment may indicate that GE has ambitions to add a solar subsidiary the size of $21 billion First Solar to its family of companies.
The amount of the investment was not disclosed. PrimeStar is based in Golden, Colorado, with offices in Montague, Michigan.
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