Solar Thin Films Announces First Delivery of New Product - Building Integrated Photovoltaic Line
July 16 2009 - 12:36PM
Marketwired
Solar Thin Films, Inc. (OTCBB: SLTN) today announced that its
subsidiary Kraft Elektronikai Zrt. of Budapest, Hungary delivered
and commenced installation of a building integrated photovoltaic
(BIPV) line for Grupo Unisolar, S.A. of Spain. BIPV products
provide substantial versatility in terms of its application as it
allows for the integration of solar installations into building
structures of all types. This represents the first such line
delivered on a turnkey basis by Kraft and marks the entrance by
Solar Thin Film's subsidiary into a new product market.
Together with earlier shipments in 2009 and December of 2008,
Kraft has now delivered equipment valued at 80% of the estimated
total project value of 7.799 million Euros (or $10.9 million
dollars at current exchange rates). Kraft anticipates that the
growing demand for solar installations in Spain will provide for
additional contract opportunities over the coming months.
"We are happy to announce that we have delivered our first
turnkey building integrated photovoltaic manufacturing system -- a
first step in entering this new and important global market," noted
Dr. Lou Stamenic, Vice President, Business Development at Kraft. He
added: "This is an important development step forward for Kraft
since amorphous silicon thin-film material is so well suited for
the BIPV marketplace. In addition to our current BIPV offering,
which is capable of producing large size semi-transparent a-Si
modules, we will soon offer equipment capable of producing both
fully transparent and custom color a-Si modules."
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
believes that its 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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