Solar Thin Films Announces Completion of Shipments for 6MW Line to Grupo Unisolar, S.A. Company
12 June 2009 - 1:34AM
Marketwired
Solar Thin Films, Inc. (OTCBB: SLTN) today announced that its
subsidiary Kraft Elektronikai Zrt. of Budapest, Hungary has
substantially completed the shipment of equipment for a 6MW
amorphous silicon photovoltaic module manufacturing facility
located in Bejar, Spain for its customer Grupo Unisolar, S.A., and
has commenced installation of the line which is expected to be
completed by the end of 2009. Grupo Unisolar, S.A. is a long
established manufacturer of solar thermal panels sold throughout
Spain. With the current shipment of equipment and commencement of
installation, Kraft has now completed 58% of the estimated project
total value of 7.799 million Euros (or $10.92 million dollars at
current exchange rates).
Peter Lewis, Group Vice President, Thin Films Division, noted,
"This is an important step forward for Solar Thin Films as the
shipped equipment includes improvements to the system -- a result
of the recently signed Cooperation Agreement between Kraft and
BudaSolar -- that will be incorporated into future deliveries of
our 6MW line as well as our 18MW and 36MW semi- and fully-automated
lines."
"It has been reassuring to know that the equipment for the first
of two planned amorphous silicon manufacturing lines arrived as
scheduled," said Gonzalo Pellejero, General Manager of Grupo
Unisolar, based in Madrid and Bejar (Salamanca) Spain. "Now with
the installation underway and technical crews on site to assist in
the scale up, we anticipate being able to begin marketing our own
line of photovoltaic modules along with our existing proprietary
solar thermal offering."
About Solar Thin Films, Inc.
Solar Thin Films (www.solarthinfilms.com) develops, manufactures
and markets a complete line of manufacturing equipment for the
production of "thin-film" amorphous silicon photovoltaic ("PV")
modules through its subsidiary KRAFT Elecktronikai Zrt., based in
Budapest, Hungary. The Company sells both individual and "turnkey
systems" to customers currently located in China, Spain and the
United States and has produced equipment for installations in the
US, Germany, Portugal, Taiwan, Greece and Spain. The Company's line
of thin-film photovoltaic manufacturing equipment positions it to
take advantage of the rapidly growing demand for solar modules and
an expected market shift towards "thin-film" PV modules as part of
a cost effective, "clean technology" energy solution.
About Grupo Unisolar, S.A.
Grupo Unisolar, S.A. currently manufactures and markets its own
line of solar thermal panels, and will soon enter the market with
its own line of amorphous silicon modules manufactured using
equipment provided by Solar Thin Films. The Company sells both
modules and complete systems through dealers and directly into
larger scale installations within Spain.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and
operating results, potential applications of the Company's
technology, opportunities for the Company, and any other statements
about the future expectations, beliefs, goals, plans, or prospects
expressed constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Any
statements that are not statements of historical fact (including
statements containing the words "will," "believes," "plans,"
"anticipates," "expects," "estimates," and similar expressions)
should also be considered to be forward-looking statements. There
are a number of important factors that could cause actual results
or events to differ materially from those indicated by such
forward-looking statements including: limited operating history,
need for future capital and economic conditions generally.
Additional information on potential factors that could affect
results and other risks and uncertainties are detailed from time to
time in the Company's periodic reports, including Forms 10-K, 10-Q,
8-K, and other forms filed with the Securities and Exchange
Commission ("SEC").
These statements, and other forward-looking statements, are not
guarantees of future performance and involve risks and
uncertainties.
Investor Relations Contact: Strategic Growth International,
Inc.: Stan Altschuler/ Richard Cooper Tel: 212-838-1444 Email
Contact / Email Contact www.sgi-ir.com
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