REC Group and Meyer Burger Sign MoU for Strategic Collaboration

REC Group has signed a memorandum of understanding for a strategic collaboration with the Swiss technology leader, Meyer Burger.

Following the successful launch of its groundbreaking Alpha solar panel at Intersolar in Munich in May 2019. The REC Group, one of the leading European brands for solar photovoltaic panels has announced that it has signed a memorandum of understanding (MoU) for a strategic collaboration with the Swiss technology leader, Meyer Burger.

As a front running innovator leading the pack in solar technology, REC Group is looking to further leverage on the already existing collaboration.

Based on the cutting-edge technology equipment by Meyer Burger, REC’s Alpha module achieved groundbreaking efficiencies. As the world’s most powerful 60-cell solar panel, the announcement of Alpha was met by immediate interest and demand by the market and is expected to be a game-changer in the industry.

“As the leading premium and integrated non-Chinese solar panel manufacturer, and with its reputation for operational excellence, REC is the ideal partner to continue the commercialization of Meyer Burger’s high-efficiency PV technologies,” said Hans Brändle, CEO of Meyer Burger.

REC intends to now increase its 600 MW heterojunction technology (HJT) and SmartWire Connection Technology (SWCT) production capacity for Alpha, using equipment from Meyer Burger, to multiple GW in cooperation with a potential strategic partner.

REC is actively reviewing potential partners for the expansion. In exchange for adequate exclusivity protection for specific HJT and SWCT technology, REC is in principle prepared to enter into a profit-sharing agreement with Meyer Burger. The terms for this are to be agreed upon by the companies and their respective Boards. Building on the leading expertise that Meyer Burger brings to the table, REC is confident that this intense collaboration will create significant long-term company value for both parties and will reshape the market.

REC Group’s CEO Steve O’Neil said that “together with Meyer Burger, REC developed the industry’s flagship panel, the Alpha. We are confident that strengthening our partnership with Meyer Burger will further drive innovation and higher efficiencies, the only way to strongly empower consumers with clean and affordable solar energy and accelerate energy autonomy of communities worldwide.”