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Intel to spin off solar venture

June 17, 2008|From Times Wire Services

Intel Corp. plans to spin off its solar technology business, creating a company called SpectraWatt Inc. and contributing to a $50-million investment in the venture.

SpectraWatt will open a plant in Oregon in the second half of the year that will make photovoltaic cells and develop ways to cut the cost of solar technology, Intel said. Shipments will probably start in the middle of 2009, Intel said.

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