Spire Corporation, a global solar company providing capital equipment and turnkey manufacturing lines to produce and characterize photovoltaic modules, cells, and wafers, today announced that it recently completed the sale of substantially all the assets of its Sun Simulator technology line to Eternal Sun USA, LLC.
“With the divestiture of our Sun Simulator Business to Eternal Sun, Spire is able to take steps to restructure the Company to concentrate its efforts to pursue opportunities in its solar turnkey business,” said Rodger W. LaFavre, President and Chief Executive Officer of Spire Corporation. “The Company will concentrate on improving its relationship with its vendors, and the Company will re-brand its image to reflect its new focus towards solar manufacturing lines and away from the simulator business. As part of our re-branding of the Company, we will in the near future be introducing a new domain and logo to better present our focus on manufacturing lines.
On January 11, 2016, Spire Corporation entered into an Asset Purchase Agreement with Eternal Sun pursuant to which the Buyer acquired substantially all of the assets of the Company’s Sun Simulator Business and assumed certain liabilities associated with such purchased assets as set forth in the Purchase Agreement.