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Patent lawsuit sends Giga Solar shares into tailspin

Patent lawsuit sends Giga Solar shares into tailspin

Taipei, June 11 (CNA) Shares of Giga Solar Materials Corp. (??), a Taiwan-based solar cell material supplier, took a beating Thursday after Germany's Heraeus Holding GmbH filed a patent infringement lawsuit against the Taiwanese firm, dealers said. While Giga Solar said that its operations remained normal despite the patent infringement allegation, its share price still came under heavy downward pressure throughout the trading session, the dealers said. Shares of Giga Solar fell 3.94 percent to close at NT$536.00 (US$17.18) with 2.18 million shares changing hands on the over-the-counter market. Shares of multi-crystalline solar wafer maker Gigastorage Corp. (??), the parent company of Giga Solar, ended down 2.83 percent at NT$22.30. The index of the OTC market ended up 0.19 percent at 135.34 points, while the weighted index on the main board ended up 0.04 percent at 9,302.49 points. Giga Solar shares encountered a sell-off soon after the market opened as investors took cues from a move by Heraeus's photovoltaics business unit to file a lawsuit with the Intellectual Property Court in Taipei and dumped their Giga Solar shares, and the weakness continued into the end of the session. According to Heraeus, Giga Solar infringed on three patents related to the production of front-side silver metallization paste materials used for solar cell manufacturing. With shipments of Giga Solar's silver metallization paste materials expanding significantly, the Taiwanese firm has taken a 30 percent share of the global market since the end of last year, and the market anticipates that its market share will grow further, analyst said. As a result, foreign rivals, like Heraeus, have waged a legal war against Giga Solar to prevent the Taiwanese firm from taking a greater share of the market, the analysts added. Giga Solar said that it has not received any document from the court, but has instructed lawyers to gain an understanding about Heraeus's legal action. The Taiwanese firm said it has strong research and development capabilities and has built a large patent portfolio, so it has faith in its ability to protect its intellectual property rights. (By Jackson Chang and Frances Huang)


Updated : 2021-09-25 03:51 GMT+08:00