Spire Corp.: $2 Million from DOE's Tax Credit Program
Spire Semiconductor, LLC Awarded Over $2 Million from DOE's Tax Credit Program
Press Release Source: Spire Corporation On Thursday January 14, 2010, 1:17 pm EST
BEDFORD, Mass.----Spire Corporation, a global solar company providing capital equipment and turnkey production lines to manufacture photovoltaic (PV) cells and modules, announced its wholly owned subsidiary, Spire Semiconductor, LLC, has received confirmation from the Department of Energy (DOE) that under the Advanced Energy Manufacturing Tax Credit (MTC) program, its application has been approved for the allocation of over $2 million to expand its III/V Compound Semiconductor Foundry facility in Hudson, New Hampshire.
Roger G. Little, Chairman and CEO of Spire Corporation, said, “Spire Semiconductor being awarded over $2 million in tax credits for its path of commercialization of our concentrator photovoltaic (CPV) technology could not have come at a better time. We have just announced the approval of Phase II of our National Renewable Energy Laboratory (NREL) subcontract for developing technology to cost-effectively manufacture 42% efficient, 500 sun, multi-junction concentrator solar cells for systems.”
Mr. Little concluded, “With the PV industry continuously growing, the availability of this tax credit will allow us to grow along with it. This opportunity will allow us to establish a state-of-the-art commercial manufacturing line to produce our proprietary triple junction high efficiency cells and support our growing CPV customers.”
About Spire Corporation
Spire Corporation, voted 2009’s Turnkey PV Manufacturing Line Company of the Year by Solar, a PV Management Magazine, is a global solar company providing advanced technology and capital equipment to manufacture photovoltaic cells and modules.
Certain matters described in this press 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-K and other periodic reports filed with the Securities and Exchange Commission.
Roger G. Little, 781-275-6000
Chairman & CEO