Glory Silicon Energy Purchases DSS450 Furnaces -- $171 Million Order
Press Release from GT Solar Incorporated
Merrimack, NH (USA), July 31, 2007 - 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 http://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 businsesses to get into the production of solar wafers.
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