Headquartered in Germany, SolarWorld Industries is a fully integrated solar photovoltaic (PV) module manufacturing company that is well known throughout the solar industry for its high-quality products, cutting-edge technology and its focus on research and development.
Under the agreement, several hundred jobs will be saved at SolarWorld Industries’ German manufacturing plants and they will continue to develop their advanced proprietary technology to capitalise on the increasing global demand for solar. For QSTec, the new deal has many strategic advantages.
QStec vision
“The opportunity to strengthen our relationship with SolarWorld Industries and continue the production of high-quality solar technologies in Germany fully aligns with QSTec’s vision of being a world leading integrated solar company,” said QSTec chairman and CEO Dr Khalid Klefeekh Al Hajri.
He added: “We have expanded QSTec’s global reach, increased our research opportunities and gained larger access to solar technologies and markets that will be of great benefit to QSTec and our partners.”
Al Hajri said: “QSTec has investments in polysilicon production, integrated module manufacturing and supply chain technologies that will allow QSTec and its partners to reduce costs and improve quality across the entire solar value chain.”
Synergies
The synergies between SolarWorld Industries and QSTec enable the development of a sustainable business platform that will assist both companies to develop new products and expand their global market reach. “We have the best products, the right partners and we share a common vision for the future of SolarWorld Industries, QSTec and the global solar industry,” said SolarWorld Industries founder, Dr Frank Asbeck.