Qcells

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Qcells (formerly known as Hanwha Qcells) is a manufacturer of photovoltaic cells. The company is headquartered in Seoul, South Korea, after being founded in 1999 in Bitterfeld-Wolfen, Germany, where the company still has its engineering offices. Qcells was purchased out of bankruptcy in August 2012 by the Hanwha Group, a South Korean business conglomerate. Qcells now operates as a subsidiary of Hanwha Solutions, the group's energy and petrochemical company. Qcells has manufacturing facilities in the United States, Malaysia, and South Korea. The company was the sixth-largest producer of solar cells in 2019, with shipments totaling 7.3 gigawatts. On 23 July 2001, the company produced its first working polycrystalline solar cell on its new production line in Thalheim, Germany. Qcells would grow to become one of the world's largest solar cell manufacturers, employing over 2,000 people and encouraging other companies to open facilities in the surrounding area, which would come to be known as Germany's "Solar Valley". The company went public on 5 October 2005, listing on the Frankfurt Stock Exchange. High share prices during the initial public offering poured money into the company and made the founders wealthy.