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Spire bags Uni-CHEM solar line contracts

Posted: 05 Oct 2009 ?? ?Print Version ?Bookmark and Share

Keywords:South Korea solar? supply contract? solar cell?

Spire Corp. has entered into two contracts to supply Uni-CHEM Co. Ltd of Seoul, South Korea, via its United States entity, Uni-CHEM Solar, a 60MW 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 facility to house the automated 60MW solar cell line and 50MW PV 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 percent of Spire Solar Systems, Spire Corp.'s system integration business, subject to definitive documentation. Such definitive agreements have not yet been finalized.

Roger Little, chairman and CEO of Spire Corp., 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 U.S. 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."

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