Cypress Announces Investment In Designer and Manufacturer Of Ultra-High-Efficiency Silicon Solar Cells

5/31/2002 - Cypress Semiconductor Corp. (NYSE: CY) today announced that it has signed an agreement to invest in SunPower Corp., a leading manufacturer of ultra-high-efficiency silicon solar cells. Under the terms of the deal, Cypress will invest $8.8 million for an initial 44 percent stake in SunPower, with an option to increase its stake. SunPower makes a range of products, including concentrator solar cells, which use a lens or mirror to concentrate sunlight; one-sun solar cells and arrays for specialty applications such as solar-powered aircraft and race cars; and silicon-based optoelectronic devices for telecommunications and industrial applications. SunPower cells are 33 percent more efficient than today’s most efficient commercially-available cells.

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