An interesting paper which takes a look at ATS Automation and the difficulty it could have spinning off its Photowatt Technologies solar business. When ATS announced it was spinning off Photowatt earlier in the year, the potential value of its Spheral Solar operaton -- which makes flexible solar cells using a unique mass-manufacturing approach -- was calculated into valuations. But ATS has had problems getting Spheral Solar up and running with reliable commercial product. More recently, it signalled it may have to shut down the Cambridge, Ontario, operation pending the outcome of a review due in January. If that happens, one must wonder how the market will received Photowatt's IPO, given it would no longer have a unique technology to distinguish itself in an increasingly crowded and overheated solar market.
Source : CleanBreak
Link : Photowatt's SEC F-1 Filling
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