25.4.2003: Meldung:: Spire Corporation: $1.35 Million Contract in China
Thursday April 24, 2:42 pm ET
$1.35 Million Contract to Deliver Production Line Capable of 5 Megawatts Per Year
BEDFORD, Mass.---April 24, 2003-- Spire Corporation (Nasdaq: SPIR - News), today announced that it has shipped a customized 5 megawatt SPI-LINE(TM) turnkey photovoltaic (PV) module production line to Huangshan Ho Tin Solar Technology Development Ltd., a new company located in Huangshan City, Anhui, China. The company is a joint venture between Ho Tin Industries Ltd., of Macau, and Huangshan Chaoyang New Energy Resources Science and Technology Development Co., Ltd. of Huangshan City.
Advanced PV module manufacturing equipment and process technology provided by Spire Solar, Inc., Spire"s wholly-owned subsidiary, will enable Huangshan Ho Tin to manufacture state-of-the-art photovoltaic modules from solar cells at the rate of 5 megawatts per year. This integrated module assembly line was specifically designed to meet the needs of Huangshan Ho Tin. The modules produced from the line will be used for off-grid rural electrification projects in China and a variety of solar consumer products, some of which Ho Tin Industries is already making.
"Spire Solar is very pleased to work with Huangshan Ho Tin, especially as one of the joint venture owners is an organization with which we have had longstanding relations, Ho Tin Industries. That company has used Spire equipment for many years," said Roger Little, Spire Corporation"s President and CEO.
"Solar power usage is increasing rapidly in China, and we foresee significant market potential for PV panels in a variety of applications," said Mr. Ho of Ho Tin Industries. "To meet our ambitious expansion plans, we needed proven PV production technology backed by an effective training program. With Spire as our partner, we expect our new factory to be up and running with a minimum of delay."
Spire Solar offers proven SPI-LINE turnkey production lines for module, cell, and wafer manufacturing at production capacities ranging from a few hundred kilowatts up to 25 megawatts per year. Spire Solar also offers a series of specialty SPI-LINE production lines for manufacturers having requirements with specific technology or production, including mono-crystalline, poly-crystalline, and ribbon crystalline solar cells. Every SPI-LINE production line includes the equipment, training and process technology necessary to establish a successful module manufacturing operation. As a provider of solar electric systems for distributed power generation through its affiliate, Spire Solar Chicago, Spire Solar offers the unique capability of equipment supplier combined with proven manufacturing process experience.
Ho Tin Industries Ltd. is a diversified manufacturing company with facilities in Macau and China that make a wide variety of solar lights, small home appliances, toys and electronic products. After 40 years of development, the company has carved out a good reputation in the world. For more information, please visit www.hotin.com. Huangshan Chaoyang New Energy Resources Science and Technology Development Co., Ltd. of Huangshan City is famous for its state-of-the-art Chaoyang PVPS (Photovoltaic Pumps System). Huangshan Chaoyang has set up many distribution centers and power stations in western China.
About Spire Solar, Inc.
Spire Solar, Inc. provides solar electric systems for distributed power generation and is a leading supplier of photovoltaic module manufacturing equipment and turnkey solar energy businesses. For more information, visit Spire Corporation"s web site at www.spirecorp.com.
Spire Solar Chicago provides solar electric systems for distributed power generation in the Chicago metropolitan area. For more information on Spire Solar Chicago visit www.spiresolarchicago.com.
Certain matters described in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company"s Form 10-KSB filed with the Securities and Exchange Commission.
Rodger W. LaFavre, COO, Spire Solar, Inc.
Source: Spire Corporation