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Targray Technology International, Inc.

Company type	Private
Industry	Renewable Energy
Founded	July 1989 (1989-07) Kirkland, Quebec,Canada
Founders	Thomas A. Richardson
Headquarters	Kirkland, Qc
Area served	Worldwide
Products	Solar silicon, sputtering targets, optical grade polycarbonate, protective lacquer coating, mastering glass, printing nest pads, mold components, UV lamps, printing frames, CD/DVD manufacturing equipment, aluminium paste, silver paste, laminator diaphragm, battery-grade lithium, graphene, Lithium-ion Battery Foils, cathode active materials, binders, electrolyte solutions, packaging.
Revenue	US$ 50 million +(2015)
Number of employees	80 (2015)
Website	Targray.com

Targray Technology International, Inc., commonly referred to as Targray, is a Canadian multinational renewable energy company headquartered in Kirkland, Quebec, that supplies solar, optical media and lithium-ion battery materials to companies around the world. The firm is also an active energy commodity trader and a leading global supplier of Biofuels. In 2005, Targray entered the renewable energy sector and began supplying materials to solar-panel makers in an effort to diversify its product offerings, which had previously been limited to raw materials for optical disc manufacturers. By 2009, Targray’s sales to the solar industry were generating more than half of its US$225 million in revenue, making it one of the fastest-growing organizations in Canada.. Today, the company employs over 80 full-time staff members in a dozen locations across the world, including Canada, the U.S., Germany, the Czech Republic, China, Taiwan and India.

Industries

Solar – Photovoltaic

In an effort to diversify its portfolio and leverage its strength as a global materials distributor, Targray in 2005 became a supplier of raw materials for the burgeoning solar energy industry. As of 2016, the company is one of the largest global suppliers of Polysilicon, a key component in the manufacturing of Crystalline silicon, solar cells and semiconductor wafers. Supported by a global network of procurement partners, Targray provides a number of materials used in the production of solar energy products, including Solar Silicon, Solar Grade Ingot, Solar Wafers, Solar Cells, Crystalline Cell Materials, Silver Paste, Aluminium Paste and Wafers. In 2011, in a joint announcement with the Dow Chemical Company, Targray was named the exclusive distributor of Dow's polyolefin encapsulant film, a material used to reduce conversion costs and lamination cycle times in the production of photovoltaic (PV) modules.

Biofuels

Since 2010, Targray is one of the largest North American biofuel marketing and trading organizations with sales in both the US and Canada. 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, the company announced the opening of an inventory location for its biodiesel supply in Bakersfield, California.

Lithium Ion Batteries

Targray supplies a number of materials used in the production of lithium-ion batteries, including Anode Materials, Battery-grade lithium, Cathode Materials, Coated Electrodes, Separators and Packaging Materials. In January 2016, the company announced it was purchasing 40 Litacell-LC40 lithium ion cells from Ontario-based battery manufacturer Electrovaya at a cost of $23 million US dollars.

Power Trading

Dealing in both the physical and financial aspects of Power Trading, Targray specializes in creating pricing efficiencies across multiple geographic markets. The company holds trading licenses and permits in both Canada and the United States. In 2012, Targray was named the winner of the HSBC Canada International Business Awards in the Asia-Pacific category.

Optical Media

Targray has supplied materials used in the fabrication of Optical Discs and DVDs since it was founded in 1989. Today, it is the single largest global supplier of materials to the optical media industry. The company offers a full line of mastering, replication and electroforming products used in the manufacturing of optical media products.

History

1987-2004: Early History

Targray was founded in 1987 by Thomas A. Richardson working out of his home in Beaconsfield, Quebec. The company, initially called Technology Services, was legally incorporated in the summer of 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, and approximately 50% of optical discs around the world were sputtered using targets supplied by the company.

Beginning in 1998, Targray underwent a series of expansions to accommodate its rapidly growing optical media business and workforce, and by 2004 the company had opened 5 international sales offices: Dordrecht, Laguna Niguel, Taipei, Panenské Břežany, and New Dehli.

2005-Present: Rapid Growth and Diversification

In 2005, anticipating the decline of optical disc sales, management adopted a diversification strategy focused on high-growth industries, beginning with solar energy. The change of direction further propelled Targray's growth rate, and in 2006 it was ranked the 9th fastest-growing company in the province of Quebec by Canadian French-language newspaper L'actualité.

In 2008, Targray's solar products had surpassed its optical media line in total sales, and the company was included for the first time in Profit Magazine's PROFIT100 list as one of Canada's fastest growing companies. By 2009, Targray's annual revenues - 70% of which were generated through the solar division - exceeded $250 million per year..

Between 2010 and 2011, Targray established two new business divisions, supplying Biofuels and Lithium-ion Battery materials, respectively. In March 2014, the company announced that it would begin marketing B99 and B100 biodiesel blends from its inventory location in California. . As of 2016, Targray supplied biodiesel to markets around the world from its line of ocean vessels, which range in capacity from 5,000-30,000 Metric Tonnes.