18 Jun 2008 07:00
PRESS RELEASE
18 June 2008
PV Crystalox Solar Plc - New Contract
PV Crystalox Solar plc is pleased to announce the signing of a contract with newly formed Intel spin-off SpectraWatt. The agreement relates to the supply of multicrystalline wafers with a total output of 125 MW during the period 2009 -2013 and is structured with predetermined prices and volumes.
In addition to focusing on advanced solar cell technologies, SpectraWatt will concentrate development efforts on improvements in current manufacturing processes and capabilities to reduce the cost of photovoltaic energy generation.
Commenting on the agreement, Iain Dorrity, Chief Executive said:
"SpectraWatt is an exciting new venture which will strengthen our customer portfolio and we look forward to a long and fruitful partnership"
For further information contact:
| PV Crystalox Solar PLC | Tel: +44 (0)1235 437 160 |
| Iain Dorrity, Chief Executive Officer | |
| Peter Finnegan, Chief Financial Officer | |
| Gavin Anderson & Company | Tel: +44 (0)20 7554 1400 |
| Kate Hill | |
| Robert Speed |
Notes to Editors
PV Crystalox Solar, initially established in the UK in 1982, is a highly specialised supplier to the world's leading solar cell manufacturers, producing multicrystalline silicon ingots and wafers for use in solar electricity generation systems. The Group was one of the first to develop multicrystalline technology on an industrial scale, setting the industry standard for ingot production.
The Group manufactures silicon ingots in Oxfordshire, United Kingdom, with the majority of its output shipped to Japan, where it is sold either as ingots or as wafers after processing by a sub-contractor. The balance of its output is processed into wafers for European customers at the Group's facilities in Erfurt, Germany.