Swedish thin-film solar technology specialist Midsummer AB (STO:MIDS) has forged a strategic partnership with Chinese counterpart Kaisheng New Energy Technology to bolster the production of thin-film solar panels in Asia. The collaboration seeks to provide a cost-effective solution for the European market.
Under the recently announced Original Equipment Manufacturer (OEM) agreement, Kaisheng will manufacture thin-film solar roof panels utilizing a variation of copper indium gallium selenide (CIGS) cells technology, aligning closely with Midsummer's expertise. This move aims to leverage Kaisheng's manufacturing capabilities while maintaining Midsummer's certifications and quality standards, ensuring consistency and reliability.
According to Eric Jaremalm, CEO of Midsummer, the partnership offers several advantages, including the ability to mitigate production constraints in European factories and tap into a more price-sensitive market segment. Jaremalm stated, “We see this as a long-term strategic collaboration that can have a positive impact on our operations and development far into the future. Short term, it will enable us to scale more quickly and address a price sensitive segment of the huge European market.”
The new product, branded as BOLD S, will resemble Midsummer's existing BOLD model, catering primarily to large flat or near-flat low load bearing roofs on commercial and industrial buildings. With exclusive rights to market these panels in Europe, Midsummer aims to capitalize on the cost advantages offered by Asian production, which still enjoys favorable treatment by the EU in terms of customs duties.
