Daystar (DSTI) may get some upside momentum in the coming days on news that they will merge operations and R&D with EPOD Solar of Canada in order to bring the CIGS thin film technology to commercial production much quicker.  The two companies plan to sign definitive agreements and complete the transaction as soon as possible which is subject to due diligence reviews and regulatory filings.  It may also need to be approved by DSTI shareholders. 

The transaction calls for DSTI purchasing nearly all of EPOD Solar for $300 million in preferred stock, but it’s not quite as simple as that.. I won’t get into all the financial details here.  If you’d like to read all the dirty details, use the hyperlink above.

Michael Matvieshen, CEO of EPOD Solar, said that “We are pleased to announce the DayStar transaction and believe that it will produce significant advantages for our mid-to-longer term technology and growth strategy. Our amorphous silicon technology is currently amongst the lowest cost on a per watt basis in the world to install. We anticipate that as we roll out our double and triple junction thin-film technologies we will continue to drive efficiencies higher, while driving system installed costs well below $2 per watt. We will develop DayStar’s CIGS technology leveraging our world-class research and development facilities recently purchased from OptiSolar to commercialize solar thin-film technologies, which offer even higher efficiencies and extend our objective of driving cost per watt to even lower levels.”

DSTI is moving nicely on this news and currently pushing above resistance of the 50 day moving average with good volume.