- Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN or the “Company”) today informs about its plans for an ordinary capital increase to finance the built up of production capacities for technologically leading solar cells and modules.
- By transforming its business model, the Company significantly expands its value chain to achieve sustainable profits. In the long-term, the Company will benefit from the technology and cost leadership of its patented heterojunction/SmartWire technology (SWCT®).
- MBTN invites its shareholders to an Extraordinary General Meeting to be held on July 10, 2020.
The Board of Directors of the Company proposes an ordinary capital increase to the shareholders at an Extraordinary General Meeting to be held on July 10, 2020. Within the framework of the capital increase, the Company expects to raise gross proceeds of CHF 165 million.
New strategic direction allows Meyer Burger to leverage full value of technological leadership
At the Annual General Meeting held on May 13, 2020, Meyer Burger had announced that it was considering plans for establishing an own large-scale cell and module production in Germany. The reason for this fundamental change of direction is the realization that the Company has not been able to generate profits from its technological leadership in recent years. The Company has shaped the development of photovoltaics along the entire value chain and has set the industry’s essential standards, such as the diamond wire saw technology, the PERC technology and precision measurement technology for solar modules. A large proportion of the solar modules produced world-wide today are based on technologies developed by Meyer Burger. By selling its production equipment, however, Meyer Burger relinquished control of its technology and largely left the realization of the added value creation to its customers.
