Spire Enters into Commercial Agreements with Korea’s Uni-CHEM

BEDFORD, Mass.--(BUSINESS WIRE)--Spire Corporation (Nasdaq: SPIR), a global solar company providing capital equipment to manufacture photovoltaic (PV) modules and turnkey manufacturing lines worldwide today announced that it entered into two contracts to supply Uni-CHEM Co., Ltd. (Uni-CHEM) of Seoul, South Korea, via its United States (US) entity, Uni-CHEM Solar, a 60 megawatt (MW) per year turnkey Cell Line and a 50MW per year turnkey Module Line, as well as the associated utilities and infrastructure support.

Uni-CHEM has indicated its intent to lease space from Spire at its Hudson, New Hampshire’s Spire Semiconductor facility to house the automated 60MW Cell Line and 50MW Module Line. Terms of the sub-lease are not yet fully defined and currently under negotiation. The Uni-CHEM integrated Cell and Module Lines are planned to become operational in the second half of 2010.

Additionally, Uni-CHEM has agreed it will form a US entity, which will purchase 51% of Spire Solar Systems, Spire Corporation’s system integration business, subject to definitive documentation. Such definitive agreements have not yet been finalized.

Roger G. Little, Chairman and CEO of Spire Corporation, said, “We are excited to have finalized the cell and module turnkey manufacturing agreements with Uni-CHEM. We believe their cell and module manufacturing will position them to participate in the US solar market, which is anticipated to be one of the world’s fastest growing. The total value of the contracts, including those relating to the investment in the systems integration business, is approximately $60 million.”

About Uni-CHEM Co., Ltd.

Uni-CHEM Co., Ltd. (Korea Stock Exchange: 011330.KS) produces and markets leather products for Korea’s major automakers and luxury goods companies such as Burberry and Coach. It was formerly known as Shinjin Leather Industrial Co., Ltd. and changed its name to Uni-CHEM Co., Ltd. in April 2000. The company was founded in 1974 and is based in Ansansi, South Korea. For more information, visit: www.uni-chem.net.

About Spire Corporation

Spire Corporation is a global solar company providing capital equipment to manufacture PV modules and turnkey manufacturing lines. Spire Semiconductor provides processing technology for Spire’s silicon solar cell lines and produces gallium arsenide cells for solar concentrator systems. For corporate or product information, contact Spire Corporation at 781-275-6000, or visit www.spirecorp.com.

Certain matters described in this news 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.