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30 November 2010

Farris Represents Day4 Energy in its Acquisition of ACI ecoTec GmbH

Farris, Vaughan, Wills & Murphy LLP is proud to represent Burnaby-based company, Day4 Energy in its recently-announced, all stock acquisition of ACI ecoTec GmbH, a company that develops and manufactures production automation and process equipment for the photo voltaic industry. Founded in 2001, Day4 Energy designs and manufactures high-performance solar electric modules based on its patented Day4 Electrode technology. Together with potential earn-out payments, the deal is valued at $8 million.

Of particular note is the long-term nature of the acquisition; a “long-term relationship agreement” was filed in addition to the acquisition agreement between Day4 Energy and the vendor of the ACI shares, DE Solar Holding GmbH. The agreement illustrates board representation rights as well as various restrictions that can be implemented on shares issued in such circumstances. For more details on the transaction, please see the following article from Westlaw Business:  “M&A Watch: Day4 Solar Deal Proves Illuminating” , by John Mackie.

Farris Partner Elizabeth Harrison, Q.C. represented Day 4 Energy, along with David Selley and Chad Anderson.

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