26.5.2004: Uni-Solar Ovonic Receives Order for 2.4 Megawatt of Solar Products
Stan Ovshinsky, Chairman and CEO of Uni-Solar and President and CTO of ECD Ovonics, said, "We are very pleased with the growth at United Solar Ovonic and the worldwide recognition of our solar products. Our robust and flexible thin-film solar cells are ideally suited for building integrated photovoltaics and we are delighted to work with SIT to address this market."
Ed Stevenson, CEO of SIT, stated, "This shipment will be utilized immediately to manufacture our SR2001 solar electric roof panel to service a large backlog of orders with our customers." Mr. Stevenson added that SIT is currently providing product for many projects, including Coca Cola and the San Diego City Schools. "The Uni-Solar Ovonic product is the finest photovoltaic module in the world and we look forward to purchasing large quantities on an ongoing basis," Mr. Stevenson continued.
"We at Uni-Solar Ovonic are committed to expanding the market for our building integrated PV products and systems. We are excited to be working with SIT, an industry leader in the integrated flexible photovoltaic roofing system, to provide solar energy solutions to existing customer base and to other potential new customers," said Subhendu Guha, President and COO of Uni-Solar Ovonic.
As reported in the London-based Financial Times last week, Solar Integrated Technologies floated on the London AIM Stock Exchange May 12th under the ticker symbol SIT, pricing the 7.2 million shares issued at 171p. The stock closed at 185p after its first day of trading. SIT raised £12.3 million (approximately $22 million) to provide working capital and to expand operations in the U.S. and Europe.
About Uni-Solar Ovonic
Uni-Solar Ovonic is a wholly owned subsidiary of ECD Ovonics. Building on technology invented and pioneered by ECD Ovonics, Uni-Solar Ovonic is the world leader in thin-film amorphous photovoltaics. Its 30-megawatt production equipment is the world"s largest and most advanced machine for the manufacture of thin-film amorphous silicon alloy solar cells and related products used for a variety of applications ranging from charging batteries for solar lanterns to large solar farms for utility-scale applications. UNI-SOLAR solar cells are lightweight, rugged and flexible, and are ideal as building-integrated photovoltaic roofing systems for residential and industrial customers. ECD Ovonics and Uni-Solar Ovonic hold the basic patents covering the continuous roll-to-roll manufacturing of thin-film amorphous silicon alloy multi-junction solar cells and related products. More information is available at www.uni-solar.com.
About Solar Integrated Technologies
Solar Integrated Technologies is the developer and manufacturer of an integrated flexible photovoltaic roofing system for commercial and industrial applications. SIT also provides turnkey design for photovoltaic roof assemblies along with complete balance-of-systems design and accessories to provide "building-envelope" energy efficient solutions with up to 20-year warranties. More information is available at www.solarintegrated.com.
President, United Solar Ovonic LLC
President, Solar Integrated Technologies