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 a $93.9 million order from Taiwan-based polysilicon producer Powertec Energy Corporation for a complete suite of polysilicon production equipment and technology including SDR™ 400 reactors, hydrochlorination, filament and product processing equipment. The equipment will be installed in Powertec’s new polysilicon facility which is expected to begin production in 2012. The order will be included in GT Solar’s backlog for its current Q1 FY12, which ends on July 2, 2011.
“Our goal is to become a leading supplier of polysilicon to support the growth of the world PV industry,” said Scott Kou, chief executive officer of Powertec Energy Corporation. “To ensure a low-risk and rapid startup of our new production facility, we wanted proven technology that could deliver high quality material for the lowest polysilicon production costs. GT Solar’s polysilicon technology and complete range of engineering services will allow us to quickly ramp our plant to volume production while delivering the highest return on our investment.”
“We are pleased that Powertec has selected GT Solar as its technology partner for their new polysilicon production facility,” said Tom Gutierrez, GT Solar’s president and CEO. “We have a successful track record of enabling new market entrants to establish highly productive polysilicon manufacturing plants. Our suite of polysilicon equipment and technology delivers industry-leading cost per kilogram polysilicon by increasing throughput and lowering energy consumption.”
The SDR 400 CVD reactor has proven capability of producing over 400 metric tons annually (MTA) of polysilicon and continues GT Solar’s leadership position for developing the most energy efficient reactors in the industry.
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 the quarterly report on Form 10-Q for the third quarter of fiscal 2011 filed on February 10, 2011. 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.