Green Energy Technology receives milestone system
MERRIMACK, N.H.--(BUSINESS WIRE)--GT Solar International, Inc. (NASDAQ: SOLR), a global provider of polysilicon production technology, and sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets, today announced that it has shipped its 2000th directional solidification system (DSS) crystalline ingot growth furnace to Green Energy Technology (GET). GET will receive the milestone system as part of recent orders totaling $59 million for GT Solar's DSS450HP ingot growth furnaces.
GT Solar's DSS450 crystallization ingot growth furnace is widely used throughout the PV industry. (Photo: Business Wire)
"GET and GT Solar have developed a trusted partnership over many years," said Mr. Hurlon Lin, president of Green Energy Technology. "GET is recognized for producing very high quality multicrystalline wafers and GT Solar's crystalline growth furnaces help us achieve these results."
"GET was one of our first customers for our DSS crystalline growth systems and we value the partnership that has developed over the years," said Tom Gutierrez, president and chief executive officer of GT Solar. "Customers are looking for ways to lower their cost of manufacturing and our DSS architecture offers customers tremendous value. Achieving the milestone 2000th shipment of our DSS crystallization furnace is a testimony to the reliability and longevity of the architecture that continues to deliver sustained value to customers seven years after its market introduction."
GT Solar introduced its first DSS crystallization system, the DSS240TM, in 2003. The DSS architecture was designed to accommodate future advancements in crystalline growth process technology. Customers can easily upgrade their existing furnaces to achieve higher levels of performance and throughput. The latest generation DSS650TM, which the company announced is now in beta testing and is expected to be commercially available in early calendar year 2011, continues this unique ability for customers to achieve a higher return on their investment.
About GT Solar International, Inc.
GT Solar International, Inc. (NASDAQ: SOLR), is a global provider of polysilicon production technology, and sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets. The company's products and services allow its customers to optimize their manufacturing environments and lower their cost of ownership. For additional information about GT Solar, please visit www.gtsolar.com.
Forward-Looking Statements
Some of the statements in this press release are forward-looking in nature, including statements regarding expected revenue from a customer contract. These statements are based on management's current expectations or beliefs. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside the Company's control, which could cause actual events to differ materially from those expressed or implied by the statements. Factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include the possibility that the Company is unable to recognize revenue on customer contracts, that technological changes could render existing products or technologies obsolete, the Company may be unable to protect its intellectual property rights, competition from other manufacturers may increase, exchange rate fluctuations and conditions in the credit markets and economy may reduce demand for the Company's products and various other risks as outlined in GT Solar International, Inc.'s filings with the Securities and Exchange Commission, including the statements under the heading "Risk Factors" in the Company's annual report on Form 10-K for the fiscal 2010 filed on June 4, 2010 and quarterly report on Form 10-Q for the second fiscal quarter filed on November 9, 2010. GT Solar International, Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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Ryan Blair, 603-681-3869
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