German family-owned technology group Heraeus Holding GmbH said on Monday that it is acquiring a stake in French company HoloSolis, which plans to open a 5-GW factory for photovoltaic cells and panels in 2025.
The new EUR-700-million (USD 741.8m) factory will be located in Hambach, northern France, and will employ about 1,700 people. At full capacity in 2027, the facility will produce 10 million photovoltaic panels annually which is enough to meet the energy needs of one million households.
Among others, Heraeus produces silver metallisation pastes, which are a component of photovoltaic cells.
According to the statement, the German company will supply HoloSolis with the latest metallisation technologies and will also be present on the French firm’s board of directors.
Based in Hanau, Heraeus generated revenue of EUR 29.1 billion in 2022. The group has businesses in the environmental, electronics, health and industrial applications sectors and is active in 40 countries.
(EUR 1 = USD 1.06)