As many of those in the solar power industry would have read yesterday, ICP Solar has sold a majority stake in its UK thinfilm factory to ISE Solar LLC, a USA corporation with over 30 years of amorphous thin film manufacturing history.
Why now? Well frankly speaking, our strategy team reviewed developments in the thinfilm world and determined that this world is about to get far more competitive than ever before with entrants claiming up to 1Gigawatt of new capacity being brought online between now and 2010. So why stay in the “solar microchip” business when so much new capacity of increased efficiency and decreased cost technologies is coming onstream?
It all relates back to the “Apple of Solar” strategy we have publicized. ICP Solar fully intends now on focusing resources on customer application technologies, such as our rooftile project for which a substantive LOI has already been signed for Spain, and other such products. The divestiture of $2M USD of expense line actually means that even if our sales were to remain at last year’s levels, with our improved operations we would be profitable.
Fact is that it was time. Our team in Bridgend did a marvelous job of keeping that factory running and continuously improving its output. By staying minority holder, ICP Solar desired to continue to have access to this fine product, and which will be improving once again at the hands of Robert Stabinsky, a solar guru who put down thinfilm factories for companies such as BP Solar in the past.
Its not adios to the team in UK, yet it is a handoff which is a very important moment for me. Many people had predicted the demise of the factory long ago when we were hit by the chinese knockoffs, yet we survived and managed to improve its output by about 50% over the years. Kudos to a wonderful group of people in that little welsh town.
Sass
1 Comment
Dear Sass,
Congratulations on succeeding in the face of Chinese competition, and congratulations on taking the hard decision to sell out while things are going well. Those are decisions that one doesn’t take lightly. You and your company are well placed to continue your growth.
That makes this as good a place as any to ask a question that has been tickling me for the past few months: If the renewable energy industry is growing rapidly, and therefore needing more and more skilled workers, what do you look for in someone coming from another industry? (Presumably you don’t want, and you couldn’t get, enough recent graduates to meet all of your needs…)
In theory, this is one of ICP’s greatest challenges: finding competent, dedicated workers with enthusiasm and creativity who can help ICP to carry its mission forward. Some of us have lots of experience in management, for example, but in another sector (like the not for profit sector, business consulting, or training, for example). What would you be looking for that would lead you to hire such a person?
Perhaps you would be willing to make this the subject of one of your future entries!
Good luck to you and to ICP,
Mark