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To: Bill Harmond who wrote (42975)	6/16/2008 5:24:24 PM
From: bob zagorin	Respond to of 57684

Intel spins off assets to form solar cell company By Benjamin Pimentel, MarketWatch Last update: 5:15 p.m. EDT June 16, 2008 SAN FRANCISCO (MarketWatch) -- Intel Corp. on Monday said it will spin off key assets of its new business initiatives group to form an independent company that makes solar energy cells. The move highlights the bid of chips companies and chip equipment makers to explore new opportunities in the growing solar energy market. INTC) said its investment unit, Intel Capital, is taking part in a $50 million investment in a company called SpectraWatt Inc., which will make photovoltaic cells for solar module makers. Solar cells are components used to turn sunlight into electrical power. Intel is forming the new company with Cogentrix Energy, a subsidiary of Goldman Sachs PCG Clean Energy and Technology Fund and Solon AG. The deal is expected to close in the second quarter. SpectraWatt will break ground on its manufacturing and advanced technology development facility in Oregon in the second half of 2008. First shipments are expected by mid-2009. Intel said the solar-energy industry is expected to grow 30% to 40% annually. Other companies in the chips and chip-making equipment industries have expanded into that market. Three years ago, Cypress Semiconductor (CY) spun off SunPower Corp., which also makes solar cells. Applied Materials Inc. (AMAT) has moved more aggressively into the market for equipment used for making solar panels, which analysts say has helped the company weather the uncertainty in the tech market.