Specialized Technology Resources (STR) Holdings, an Enfield, Conn.-based manufacturer of solar cell encapsulants, has filed for an IPO that could be worth as much as $300 million in common stock. It plans to trade on the NYSE under the ticker symbol “PVS”; Goldman Sachs and Credit Suisse will serve as its co-lead underwriters.
Founded in 1945, the company sells Photocap encapsulants, protective sheets for solar cells that are typically made of glass, to many of the world’s leading solar module makers, including First Solar, SunPower, United Solar, Solarwatt and BP Solar. STR claims its proprietary “User-Friendly” (UF) technique makes encapsulants with zero shrinkage during the lamination process. This allows for higher throughput, it says.
Its encapsulants undergo rigorous testing to ensure they can withstand the harshest environments, and STR says they are some of the most long-lived in the industry. The company currently has four factories in operation; its fourth factory, launched last year, specialized in the production of systems for emerging photovoltaic (PV) applications.
