GT Solar Incorporated, one of the major providers of manufacturing
equipment and turnkey manufacturing solutions to the photovoltaic (PV)
industry, announced today that it has signed a $171 million dollar
contract with Glory Silicon Energy Co., Ltd., of JiangSu, China for
GT's new and more efficient DSS450 furnaces for the production of
multi-crystalline silicon ingots. The contract is the largest single
DSS furnace contract in GT Solar's history and will include deliveries
over the next two years. The order will equip what is projected to be
one of the largest wafer factories in the world - about 1500MW
annually.
The DSS450 (Directional Solidification System) furnace is new to
GT Solar's equipment line. It is similar to the DSS240, but can grow
larger silicon ingots than GT's DSS240 furnace, with an average ingot
weight of 400kg (or customized up to 450kg), and can deliver 30% more
output than GT's DSS240 furnace.
GT Solar Incorporated President and CEO, Thomas Zarrella, said:
"Glory Silicon Energy Co. will be a major player in the growth of the
global solar industry. Glory's order for our DSS450 furnaces over the
next two years is one more indication of the significant growth of the
solar industry in China."
GT Solar Vice President for Asia, Jeff Ford, said: "This is the
second major order for GT Solar's new DSS450 furnaces that produce
larger silicon ingots. It's a key part of Glory's plan to jumpstart
its production."
Glory Silicon Energy Co., Ltd. President, Wang LuBao, said: "We
have turned to GT Solar for its DSS450 furnaces because they are the
most technologically advanced on the market today. We look forward to
using GT's equipment to produce quality solar wafers for the growing
solar marketplace worldwide."
About GT Solar Incorporated
GT Solar Incorporated, a wholly owed subsidiary of GT Solar
International, is one of the largest providers of manufacturing
equipment and turnkey manufacturing solutions across the photovoltaic
supply chain. Based in Merrimack, NH (USA), the company's products
include equipment used to produce multi-crystalline solar wafers,
cells and modules. GT Solar also manufactures polysilicon reactors,
which allow its customers to produce the polysilicon from which solar
wafers are made. For more information, go to www.gtsolar.com.
About Glory Silicon Energy Co., Ltd.
Glory Silicon Energy (Zhenjiang) Co., Ltd. is a newly established
company with its production facility in the city of Yangzhong in the
Chinese province of Jiangsu. It was founded by various investors,
including the Huantai Corporation. Huantai was one of the first
Chinese businesses to get into the production of solar wafers.
Forward Looking Statements
This press release contains forward-looking statements that are
subject to risks and uncertainties. These statements are indicated by
words such as "expect," "estimate," "or similar expressions. In
particular, this press release contains forward-looking statements
about the expected future sales from the contract executed with Glory
Silicon Energy Co., Ltd. These statements are based upon information
available to GT Solar's management as of the date hereof. Actual
results may differ materially from the anticipated results because of
certain risks and uncertainties, including, but not limited to, the
failure by either party to fulfill its obligations under such
contract. GT Solar undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time, except as required by law.