9.6.2005: Meldung: Evergreen Solar, Inc.: German Chancellor Meets With Evergreen Solar and Q-Cells
THALHEIM, Germany-- June 8, 2005--German Chancellor Gerhardt Schroeder met yesterday with Evergreen Solar (Nasdaq: ESLR) and Q-Cells AG in Thalheim, Germany, the city where a new $75 million solar panel manufacturing plant will be constructed by EverQ, a recently announced strategic partnership formed by the two firms. The Chancellor also met with CSG Solar AG, a Thalheim-based developer of solar panels.
Evergreen Solar, based in Marlboro, Massachusetts, is a manufacturer of solar power products that leverage its proprietary, low-cost String Ribbon(TM) wafer technology. Based in Germany, Q-Cells is the world"s largest independent manufacturer of crystalline silicon solar cells.
"This is a great example of how environmental sensitivity and economic efficiency go together," Schroeder said. "Solar power has the potential to secure the future energy supply in Germany and worldwide."
The German government plans to provide the new EverQ manufacturing facility with grants totaling approximately $34 million at current exchange rates. Construction is set to begin in August and the plant is expected to create between 350 and 400 new jobs in the area. In total, the solar industry employs approximately 30,000 in Germany and created 5,000 new jobs for the country in 2004 alone. "Public funding of solar energy makes sense not only economically but also in terms of energy policy," Schroeder stated.
The solar power, or photovoltaic, market was over $7 billion in 2004 and is growing at more than 40 percent per year. Germany is the world"s largest solar power market today, accounting for 40 percent of worldwide spending in 2004. Markets in Japan and the United States rank second and third, respectively.
"Evergreen Solar is establishing itself as a technology leader," stated Evergreen Solar President and Chief Executive Officer Richard M. Feldt. "Our ability to innovate and significantly reduce solar power manufacturing costs is the foundation upon which this strategic partnership was established. We believe the combination of our String Ribbon(TM) technology with Q-Cells" high efficiency cell processing and proven ability to scale manufacturing plants will enable us to become a world leader in the solar power industry."
"Germany has created a model for economic development by supporting the solar power industry that is now being emulated by nations throughout Europe and the world," Feldt concluded. "The continued strength of the German market and the increase in solar power adoption globally is helping to fuel Evergreen"s continued expansion. We are eager to commence construction with Q-Cells on the EverQ plant, which we anticipate will be fully operational in the summer of 2006."
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
Sharon Merrill Associates, Inc.
Jim Buckley, 617-542-5300
SOURCE: Evergreen Solar, Inc.