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|Spire to Provide PV Module Manufacturing Line to Solartech Renewables|
BEDFORD, Mass., Apr 07, 2010 (BUSINESS WIRE) --Spire Corporation (Nasdaq: SPIR), a global solar company providing production equipment and turnkey manufacturing lines to manufacture photovoltaic (PV) cells and modules and Engineering, Procurement, and Construction services for solar systems today announced that is has entered into a contract with Solartech Renewables, LLC (Solartech) to provide a turnkey PV module manufacturing line.
The Solartech factory will be located in New York State and will create up to 100 jobs. The line will include Spire's state-of-the-art equipment, process knowledge, training and module certification assistance. Solartech will begin production using Spire's 60 cell, 220 watt module design.
"Solartech is responding to the need for more U.S. based manufacturing for PV modules," said Roger Little, Chairman and CEO of Spire Corporation. "With the federal and state incentives for PV systems now in place, the U.S. market has become the fastest growing in the world. It is projected to be more than two gigawatts by 2011, with as much as a one gigawatt shortfall of U.S. based manufacturing."
"We chose Spire because they are renowned for their technology and unfailing support; our experience with them has been outstanding," said Todd Roberts, CEO of Solartech. "As an American company, they also have the best ability to understand our needs and support us throughout the launch and ramp up of the factory."
About Solartech Renewables, LLC
Solartech Renewables, LLC is a limited liability company formed in 2009 to establish a manufacturing facility for advanced photovoltaic panels and array configuration hardware in the Tech City complex in Kingston, New York.
About Spire Corporation
Spire Corporation, voted 2009's Turnkey PV Manufacturing Line Company of the Year, is a global solar company providing capital equipment and turnkey production lines to manufacture PV cells and modules.
Certain matters described in this press 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.
SOURCE: Spire Corporation