Tellurium producer Apollo raises USD9m

Wed Nov 25 2009, 09:11 AM UTC

Apollo Solar Energy hopes to raise USD9m through a private placement of 9m shares at a price of USD1 per share. China National Building Materials subsidiary Bengbu Glass Industry Design Institute will be the sole investment in the placement. Apollo mines and refines tellurium and high-purity tellurium-based metals for applications in cadmium telluride and CIGS thin-film photovoltaic cells. The funding will be used to boost production capacity and for general corporate purposes.

Earlier this month, Apollo formed a joint venture with Bengbu and a local government agency in China. Bengbu and Apollo are investing USD17.3m in the venture.

RELATED ARTICLES

RELATED WEBLINKS

RELATED CATEGORIES

RELATED COMPANIES