13.7.2005: Meldung: Evergreen Solar, Inc. Breaks Ground on EverQ Plant
THALHEIM, Germany-- July 13, 2005--Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power products with its proprietary, low-cost String Ribbon(TM) wafer technology, yesterday celebrated the groundbreaking of its 30-megawatt solar wafer, cell and module manufacturing plant in Thalheim, Germany. The plant is being constructed by EverQ, a recently formed strategic partnership between Marlboro, Massachusetts-based Evergreen Solar, Inc. and Thalheim-based Q-Cells AG, the world"s largest independent manufacturer of crystalline silicon solar cells.
"This groundbreaking is a significant milestone for our strategic partnership," said Richard M. Feldt, president and chief executive officer of Evergreen Solar. "Having successfully completed the design and engineering phase, we can now commence construction on EverQ"s state-of-the-art facility. We also are pleased to announce that we recently secured contracts for our anticipated silicon needs for both Evergreen and EverQ for the next 18 months. We look forward to commencing production at EverQ during the second quarter of 2006. We believe that this facility, when fully ramped to capacity, can become a model for the solar power industry."
Anton Milner, CEO and a founder of Q-Cells, said, "The EverQ facility combines the promise and know-how of our two companies - merging Evergreen Solar"s proven String Ribbon wafer technology with our highly efficient cell technology. The cooperation between our organizations is proving to be excellent, and our construction timelines for the plant remain on schedule. Just last week EverQ even started to produce its first test wafers in Thalheim."
The German government is providing EverQ with grants totaling approximately $34 million at current exchange rates to offset the manufacturing facility construction costs. The cost of the 30 megawatt factory is expected to be $75 million.
At 30 megawatts, the plant is expected to create between 350 and 400 new jobs in Thalheim, which is located approximately 80 miles from Berlin. Based on the initial success of the facility, Evergreen Solar and Q-Cells will evaluate the possibility of expanding the facility from 30 megawatts up to 120 megawatts of capacity.
About Q-Cells AG
Q-Cells AG (www.q-cells.com) is an independent manufacturer of crystalline silicon solar cells. Q-Cells is headquartered in Thalheim, Saxony-Anhalt, Germany, and currently has approximately 700 employees.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. (Nasdaq: ESLR) develops, manufactures and markets solar power products using the Company"s proprietary low-cost manufacturing technologies. The products provide reliable and environmentally clean electric power in global markets. Solar power applications include complete power systems for electric utility customers choosing to generate their own environmentally benign power, as well as wireless power for remote homes, water pumping, lighting and rural electrification. For more information, visit www.evergreensolar.com.
Evergreen Solar(R) is a registered trademark and String Ribbon(TM) is a trademark of Evergreen Solar, Inc.
CONTACT: Evergreen Solar, Inc.
Richard G. Chleboski, 508-357-2221 x708
Chief Financial Officer
Sharon Merrill Associates, Inc.
Jim Buckley, 617-542-5300
Executive Vice President
SOURCE: Evergreen Solar, Inc.