Spire Receives Contract for Combined Solar Module and Cell Line in China
Spire Establishes Leadership Position in China with Integrated Solar Factory for Jiangxi Gemei Sci-Tech LTD
Bedford, MA, April 2, 2008
Source: Spire Corp. press release /BusinessWire
http://phx.corporate-ir.net/phoenix.zhtml?c=76421&p=irol-newsArticle&ID=1124808&highlight=
Spire Corporation (Nasdaq: SPIR), a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic modules worldwide, today announced it has won a contract in China for a combined solar module and solar cell facility. This order includes a 25-megawatt (MW) module factory and an adjacent 25MW solar cell factory designed to produce high efficiency multi-crystalline cells.
“We are delighted to be selected, after a very competitive bidding process, by Jiangxi Gemei Sci-Tech LTD for this groundbreaking project. Spire’s ability to provide a superior integrated solution in both solar module and solar cell manufacturing gives our customers the benefit of immediate vertical integration with a factory that has been designed from the ground up to be rapidly expandable,” said Roger G. Little, Spire’s Chairman and Chief Executive Officer.
China is among the fastest growing countries for manufacturers of both solar cells and modules. In addition to the large export market, photovoltaic demand in China is expected to grow exponentially in the near future. The stated goal of the Chinese government is to have 450MW of photovoltaic power installed by 2010, up from approximately 75MW cumulatively installed in 2005. Furthering demand for solar power, the Chinese government passed legislation in 2005 mandating the use of renewable energy resources for 10 percent of China’s energy consumption by the year 2020.
Mr. Zheng Weixing, Chairman of Jiangxi Gemei Sci-Tech LTD, said, “We recognize the need to enter the rapidly growing solar market in China with a high volume, vertically integrated manufacturing solution. Spire’s leadership position and ability to handle a project of this size sets them apart from competitors. It is critical to enter this dynamic market quickly and effectively. We are extremely pleased to select Spire as our long-term partner.”
“A key marketplace advantage of the Spire turnkey factory is its design that is easily adaptable for vertically integrated manufacturing, and is readily expandable to meet growing demand,” said Little. “This gives our customers the ability to buy the capacity they need now without paying an expansion penalty later.”
Jiangxi Gemei Sci-Tech expects that its vertically integrated solar facility will form the cornerstone of a new science and technology-manufacturing center in Jiangxi, a southern province in China. This area is currently home to a number of other solar energy manufacturers.
About Spire Corporation
Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture photovoltaic modules worldwide. Spire Semiconductor provides processing technology for Spire’s silicon solar cell manufacturing lines and produces and sells custom gallium arsenide cells for solar concentrator systems. Spire Biomedical utilizes processing equipment common to solar cell manufacturing and 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.