Type Private Headquarters Kirkland, Qc Founder Thomas A. Richardson | Industry Renewable Energy Area served Worldwide Founded 1989 | |
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Products Solar silicon, Biofuels, Anode Materials, Separators, Coated Electrodes, Battery-grade Lithium, Cathode Materials, Packaging Materials, Electrolyte Solutions, Optical Media Materials, Foils, Binders. Revenue US$ 300 million +(2015) Profiles | ||
Targray Technology International, Inc., commonly referred to as Targray, is a Canadian multinational renewable energy corporation headquartered in Kirkland, Quebec, that supplies materials and other solutions to the international biofuel, energy storage, and photovoltaics industries. In 2009, Targray’s sales to the solar industry generated approximately half of its US$225 million revenues. The company employs over 80 full-time employees in a dozen locations including Canada, the United States, Germany, Czech Republic, China, Taiwan and India.
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Solar – Photovoltaics
In 2005, Targray became a supplier of raw materials for the burgeoning solar photovoltaics industry. As of 2016, the company is one of the largest global suppliers of solar wafers, and polysilicon, a component used in the manufacturing of solar cells and semiconductor wafers.
Biofuels – Biodiesel
Targray's biofuel marketing and trading segment provides biofuels, primarily biodiesel, to markets in the US and Canada. Among the largest biodiesel suppliers in North America, the company is accredited by the National Biodiesel Board as a BQ-9000 Biodiesel Marketer, and is a registered supplier with the United States Environmental Protection Agency (EPA) and the California Air Resources Board (CARB). In 2014, Targray opened an inventory location for its biodiesel supply in Bakersfield, California. It has since added fuel terminal locations in Stockton, Fresno and Los Angeles, California, as well as in Cincinnati, Chicago, Tampa and New Orleans.
Lithium-ion Batteries
Targray supplies several raw materials used in the production of lithium-ion batteries, including anode materials, battery-grade lithium, cathode materials, coated electrodes, separators, supercapacitors and packaging materials. The company also supplies li-ion battery makers with manufacturing equipment for commercial, R&D and pilot-line installations.
Optical Media
Targray has sold materials used in the fabrication of optical discs and DVDs since it was founded in 1989. The company is a global supplier of mastering, replication and electroforming materials used in the manufacturing of optical media products.
1987-2004: Early History
Targray was legally incorporated in 1989 under the name Targray Technology International Inc.. The company's first recorded sales were clean-room gloves sold to Americ Disc in Drummondville, Quebec. By 1995, Targray's selection of optical media products had grown to include a complete line of sputtering targets for all optical disc formats.
Beginning in 1998, Targray underwent a series of expansions to accommodate its growing optical media business and workforce, and by 2004 the company had opened 5 international sales offices, located in Dordrecht, Laguna Niguel, Taipei, Panenské Břežany, and New Dehli.
2005-Present: Expansion and Diversification
In 2005, Targray adopted a diversification strategy focused on high-growth industries, beginning with solar energy. The strategy led to an increase in the company's growth rate, and in 2006 it was ranked the ninth fastest-growing company in the province of Quebec for the previous five–year period by Canadian French-language magazine L'actualité.
In 2008, Targray's solar products had surpassed its optical media line in total sales, and the company was included in Profit Magazine's list of fastest growing companies in Canada. In 2009, Targray's annual revenues - 70% of which were generated through the solar division - exceeded $250 million per year. In 2010 and 2012, Targray established two new business divisions, created to supply lithium-ion battery materials and bio-based fuels, respectively. Shortly thereafter, the company began marketing B99 and B100 biodiesel blends from its terminal location in California.
In October 2016, professional services firm Ernst & Young announced that the President of Targray Technology International Inc., Andrew Richardson, had been named the regional winner of the 2016 Ernst & Young Entrepreneur of the Year Award for Quebec, in the manufacturing category.
Nonprofit Organizations
Targray supports and collaborates with several nonprofit organizations operating in the Energy Storage, Photovoltaics and Biofuel industries. The company is an institutional member of the Electrochemical Society, a full voting member of the National Biodiesel Board, and a corporate member of the Solar Energy Industries Association.