Over the past three years, se2quel Partners, under the leadership of Ferdinand Seemann, a solar technology expert and former Independent Director of Tegal, has developed a unique approach (with patents pending) to develop, build and operate PV-based utilities on the scale of 1,000+ megawatts (1GW), which are cost competitive with conventional energy sources. Currently, se2quel Partners has over 10 active projects with major partners in various stages of analyzing and developing solar utilities in six different countries within the global sunbelt.
sequel Power, a newly-formed Delaware limited liability company, will take over the existing projects, along with the technology, know-how and related infrastructure of se2quel Partners. Tegal contributed $2 million in cash for a majority voting interest and an approximate 25% economic stake in the new company. Ferdinand Seemann will serve as sequel Power’s full-time President & CEO, while Thomas Mika, President & CEO of Tegal, will serve as its Executive Chairman.
