Ashurst advises Meyer Burger Technology AG in relation to its Series D investment in Oxford Photovoltaics Limited

 
Ashurst has advised Meyer Burger Technology AG ("Meyer Burger"), the leading photovoltaic equipment supplier, in relation to its Series D investment in Oxford Photovoltaics Limited ("Oxford PV"). The investment involved the acquisition by Meyer Burger of a stake in Oxford PV of about 18% in consideration of the issue of approximately 62.3 million registered shares out of Meyer Burger's existing authorized capital, which are listed on the Swiss SIX stock exchange. Meyer Burger is now the largest shareholder in Oxford PV.

 As part of the transaction, Meyer Burger and Oxford PV entered into an exclusive collaboration agreement to accelerate the development of mass production technology for perovskite-on-silicon heterojunction tandem solar cells and modules. Under this agreement, Meyer Burger also has the right to increase its interest its stake in Oxford PV up to about 31% of the issued share capital (representing a maximum 24% of the voting rights).

The Ashurst team was led by UK corporate partner Tara Waters and associate Nina Frie, with support from partner Thomas Sacher, senior associate Ian Maywald and associate Armin Mueller in Germany.