Spire Corporation Renames Subsidiary to Capitalize on Fast-Growing Solar Concentrator Market
Bandwidth Semiconductor, Pioneer in Gallium Arsenide Solar Cells for Space Systems, Renamed Spire Semiconductor to Provide Solar Concentrator Cells for Terrestrial Applications
Bedfford, Mass, Dec. 13, 2007
Source: Spire Corp. /Businesswire press release
http://phx.corporate-ir.net/phoenix.zhtml?c=76421&p=irol-newsArticle&ID=1087075
Spire Corporation (Nasdaq: SPIR), a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic modules worldwide, today announced that Bandwidth Semiconductor, Spire’s wholly owned subsidiary, will become Spire Semiconductor effective January 1, 2008. Bandwidth currently provides Spire with crystalline silicon solar- cell process technology and has re-entered the fast-growing, gallium arsenide (GaAs) concentrator solar cell market. This name change will better align Bandwidth with Spire’s overall solar industry focus.
“GaAs solar cell activities are growing at Spire Semiconductor and are supplementing revenue growth from its portfolio of defense, biomedical and consumer products,” said Roger G. Little, Spire’s chairman and chief executive officer. “This operation has held a pioneering position in the field and in the future we intend to place even more emphasis on the solar concentrator cell market. As Spire Semiconductor, this operation will be better integrated with Spire Corporation and share Spire’s vision as a world leader in the terrestrial solar energy industry.”
“We’re excited to capitalize on the growing market opportunity for custom GaAs-based solar cells and thermophotovoltaic power cells, while continuing to support our growing number of foundry customers with compound semiconductor epitaxial wafers and state-of-the-art device processing services,” said Edward D. Gagnon, general manager of Bandwidth Semiconductor.
Bandwidth Semiconductor was formed in 1999 when Spire sold its optoelectronics division to Methode Electronics. Methode Electronics included Bandwidth in its Stratos Lightwave spin off in 2000. Proceeds from the offering were used in part to relocate the operation, build extensive, state-of-the-art clean rooms and add new semiconductor fabrication equipment. Spire subsequently reacquired Bandwidth in 2003 from Stratos Lightwave when the firm’s focus shifted from telecommunications.
Spire’s original optoelectronics division was an early pioneer in using gallium arsenide for both concentrator solar arrays and space system solar cells. Spire developed and fabricated GaAs solar cells with record levels of efficiency as early as 1985. A compound semiconductor, gallium arsenide possesses unique properties for use in solar concentrator cells. Compared with conventional silicon cells, GaAs cells produce higher levels of photovoltaic efficiency and are relatively unaffected by the extreme heat produced in concentrator solar arrays. Gallium arsenide is also very resistant to radiation damage, which along with its high efficiency, makes it ideally suited for outer space power applications.
During its transitional periods, Bandwidth Semiconductor retained its scientific and technical personnel and maintained its renowned solar cell intellectual property portfolio. It has recently been awarded research contracts from the National Aeronautics and Space Administration, the Department of Energy and the Air Force to develop advanced GaAs cells for both terrestrial and outer space applications. Today, with Bandwidth’s expanded manufacturing facilities and the growing market interest in terrestrial concentrator systems, it is offering its custom solar-cell solutions to solar system integrators around the world.
About Spire Corporation
Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture photovoltaic modules worldwide. The company’s Spire Solar subsidiary is the world’s leading supplier of turnkey photovoltaic manufacturing lines and module manufacturing equipment. Spire Semiconductor develops and manufactures custom gallium arsenide solar cells and other related products for the commercial, biomedical and defense markets. The company’s Spire Biomedical subsidiary is a leader in hemodialysis catheters and implantable device processing services.
For corporate or product information, contact Spire Corporation, the turnkey solar factory company, at 781-275-6000, or visit www.spirecorp.com.