DOW, ASTROPOWER AGREE ON PHOTOVOLTAICS BUSINESS STUDY
DOW, ASTROPOWER AGREE ON PHOTOVOLTAICS BUSINESS STUDY MIDLAND, Mich., Nov. 11 /PRNewswire/ -- Dow (NYSE: DOW) and
AstroPower, Inc. have entered a joint agreement to assist Dow in acquiring in-depth knowledge of the photovoltaics business and to explore opportunities in it. In turn, Dow will provide AstroPower with assistance in early stage manufacture and commercialization of its new Silicon-Film product.
Dow also has taken a minority equity position in AstroPower, primarily through the exercise of options originally held by Essex Chemical. Dow acquired the right to those options when it purchased Essex in September 1988. AstroPower, headquartered in Newark, Del., is a start-up manufacturer of solar cells and modules with more than $4 million in annual sales. The company is putting considerable resources and effort into its Silicon-Film technology, which is a thin layer of photovoltaic quality polycrystalline silicon grown on a low-cost substrate. -0- 11/11/91 /CONTACT: Doug Draper of Dow, 517-636-2876/ (DOW) CO: Dow Chemical Company; AstroPower, Inc. ST: Michigan, Delaware IN: CHM SU: JVN ML -- DE001 -- 2873 11/11/91 08:39 EST
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|Date:||Nov 11, 1991|
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