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 received the first order for its new DSS650™ multicrystalline ingot growth system from Korea-based PV manufacturer Nexolon Company, Ltd. The value of the contract totals $37.5 million and will be included in GT Solar’s backlog for its current Q4 FY11, which ends on April 2, 2011.

“Nexolon is a valued GT Solar business partner and customer who is recognized for producing high quality wafers,” said Tom Gutierrez, GT Solar’s president and CEO. “They were our beta partner for the DSS650 program and provided valuable production validation for the new product. We are pleased that they have selected our new multicrystalline ingot growth systems to meet their capacity expansion plans.”

“Nexolon is expanding its manufacturing capacity to increase the availability of our high quality wafers to cell and module manufacturers throughout the industry,” said Gene Kim, Nexolon’s chief financial officer. “As we ramp up our volume production, we need proven, low-risk technology that produces high quality wafers and a high return on investment. GT Solar’s DSS650 multicrystalline growth systems allow us to achieve both of these goals.”

The DSS650 is GT Solar’s newest addition to its industry-leading family of DSS multicrystalline ingot growth systems. The advanced DSS650 produces ingots greater than 600 kilograms in the same size chamber as the DSS450 and DSS450HP systems and delivers the same high quality material customers have come to expect from GT Solar’s multicrystalline growth furnaces. The new systems continue GT Solar’s proven track record of helping its customers achieve greater value from their equipment. Customers can upgrade their current furnaces to take advantage of the higher throughput of the new DSS650.

The DSS650 achieves higher yield and throughput over previous models while reducing consumable costs. The larger ingot produced by the DSS650 also improves downstream wafer slicing operations by allowing customers to produce taller bricks that optimize silicon loads in their wafer slicing saws.

Full product specifications of the DSS650 will be available at the time of the official launch later this month.

About GT Solar International, Inc.

GT Solar International, Inc. 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 customer contracts. 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.