DayStar Confirms Talks to Sell CIGS Solar Technology to PacWest
DayStar Technologies, Inc. (NASDAQ: DSTI) confirms today that it is negotiating the potential sale of its CIGS solar technology, equipment and patent library with PacWest (PWEI). The deal is subject to completion of Due Diligence, which has been on-going since December 2012, and the DayStar Board approval of this transaction. DayStar's President Lorne Roseborough stated, "This proposed deal with PacWest would be a no lose transaction for DayStar. This strategy fits well with the Company's go forward plan as disclosed in our PRE 14A." This deal would only be for DayStar's CIGS technology assets, including its proprietary differentiated manufacturing process to produce low-cost monolithically integrated, silicon-free CIGS-on-glass modules that do address the grid-tied, ground-based Solar (PV) market as well as Building Integrated Photovoltaic (BIPV).
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