United Solar Ovonic announces a 3-year $108million distribution agreement
July 24, 2007
Source: InsideGreentech.com
http://insidegreentech.com/1514/new-108m-uni-solar-contract-win
United Solar Ovonic, a subsidiary of Energy Conversion Devices (NASDAQ: ENER), announced a new three-year $108 million distribution agreement today. Advanced Green Technologies is offering building integrated photovoltaic solutions for commercial and residential roofing applications using UNI-SOLAR® products.
United Solar makes flexible thin film solar material. Unlike traditional crystalline technology, which typically uses heavy glass panels, UNI-SOLAR products are flexible, durable, lightweight and easier to install, the company claims. Thin film material has long offered only a fraction of the efficiency of traditional silicon based panels, but United says its triple-junction material has been found by independent studies in Europe and elsewhere to deliver more energy per rated power than conventional crystalline products.
United Solar Ovonic, building on technology invented and pioneered by ECD, is a leader in thin-film amorphous photovoltaics. It says its products are ideal as building-integrated photovoltaic roofing systems for residential and industrial customers because of their light weight, ruggedness and flexibility.
ECD and United Solar Ovonic hold the basic patents covering continuous roll-to-roll manufacturing of thin-film amorphous silicon alloy multi-junction solar cells and related products. The company has gone through challenges in recent months.
Founder Stan Ovshinsky stepped down in March (see Stan Ovshinsky passes the baton at ECD Ovonics) and a month later, executives took drastic measures to focus the company more squarely on its solar operations (see ECD Ovonics reorganizes with layoffs and closures.)