Day4 will acquire 100% of ACI in an all stock transaction of up to 10.8 million shares of Day4 subject to post closing adjustment. The acquisition is subject to the completion of definitive documentation, approval of these documents by Day4’s directors and obtaining all required consents and approvals, including the approval of the Toronto stock exchange to the issue of the Day4 shares.
The combination of the Day4 proprietary and patented technology and ACI’s specialized know-how and equipment allows Day4 to launch the offering of its turn-key manufacturing technology for production of PV cells and PV modules based on proprietary technologies developed by Day4.
ACI’s existing customer relationships and execution capabilities provide Day4 with an opportunity to rapidly roll out its manufacturing technology offering across a cross section of PV manufacturers in several key markets.
At the same time ACI’s manufacturing process and equipment engineering capabilities will add depth to Day4’s R&D team and allow the company to accelerate the development of the next generations of PV technology, Day4 said.
Karl Menauer, CEO of ACI, said: “Our established relationships with a large number of PV industry manufacturers can be leveraged for the purpose of ramping up sales of Day4 technology. This is an opportunity for a number of these players to elevate themselves from the pack with a unique product offering, reduced manufacturing cost base and access to future technology enhancements based on this next generation manufacturing platform.”
John MacDonald, CEO and chairman of Day4, said: “By expanding our business to offer a complete manufacturing solution we are taking the logical and critical next step in the evolution of our company towards our ultimate goals of achieving energy cost parity and expanding the presence of Day4’s innovative high performance technology in solar generation markets while making efficient use of our capital.”
