centrotherm photovoltaics AG, supplier of turnkey production lines and key equipment such as PECVD systems and diffusion furnaces, is to proceed with an initial public offering with a listing on the Prime Standard segment of the Frankfurt Stock Exchange, the company said. A date has not been set for the IPO. 

"We plan to finance centrotherm photovoltaics' further growth from IPO proceeds; in particular we intend to expand our research and development activities, ensure access to complementary technologies, and develop and expand our service and sales organisation in Asia and the U.S.," explains Board of Directors spokesman Robert M. Hartung. He continues, "The focus of our business strategy is to reduce production costs in the photovoltaic industry, measured in EUR/Wp. We see centrotherm photovoltaics as a driving force and "enabler" for the entire sector. Our goal is to achieve a sustainable improvement in the competitive position of photovoltaic systems compared with fossil energy sources, but also with other renewable energy sources."

The company declared that revenues in 2006 were €108.5 million, and that the company currently has more than 100 employees. Customers include Q-Cells, ErSol and Sunways, as well as market newcomers in Europe, Asia and the U.S., the company said.