GT Solar Signs $8.8 Million Contract with Nexolon

GT Solar Incorporated, a global provider of a comprehensive range of equipment, services and technology solutions to the solar power industry, has signed an $8.8 million contract with Nexolon Co., Ltd. of South Korea to supply DSS450 furnaces and accessories.

 

Deliveries are expected to be made during the next 5 months.

 

GT Solar's newest and most technically advanced furnace, the DSS450 (Directional Solidification System) model, enables solar panel producers to "grow" multi-crystalline silicon ingots, which are processed into wafers and converted into solar cells which produce electricity when exposed to sunlight. Multi-crystalline wafers are a core component used in the production of solar panels worldwide.

 

Moreover, DSS450 furnace allows producers to increase their silicon ingot output by approximately 30 percent over previous furnace designs. Ingots produced annually from a DSS450 furnace are capable of providing enough electricity to power up to 1,000 average U.S. homes for one year.

GT Solar began shipments of its DSS line of furnaces in 2003.

 

"This represents GT Solar's first DSS contract in South Korea, and we look forward to helping our new customer, Nexolon, develop its business and become a key player in the production of multi-crystalline ingots," said Tom Zarrella, GT Solar CEO and president, in a statement. "This contract is yet another example of GT Solar's key role in providing technology worldwide to meet the demand for solar energy."

GT Solar Incorporated, based in Merrimack, NH (USA), is a wholly owned subsidiary of GT Solar International, Inc., and is a global provider of ingot casting furnaces, polysilicon reactors and turnkey manufacturing solutions across the photovoltaic supply chain.

 

Nexolon CEO Woo-Jeong Lee, noted: "We are delighted to have the opportunity to work with GT Solar as we start to build our business to meet solar energy demands in South Korea. We believe GT Solar has the resources and know-how to assist us as we move forward."

Founded in 2007, Nexolon is based in Seoul, Korea and recently announced plans to become a major supplier of monocrystalline and multicrystalline silicon wafers to the solar industry.

 

These silicon wafers are thin sheets of crystalline silicon material principally used to produce solar cells. Nexolon intends to form strategic partnerships with reputable suppliers such as GT Solar and its customers. Nexolon's headquarter facility is located in Seoul, Korea, and its manufacturing plant is currently being constructed in the Iksan Industrial Complex in Iksan City of JeonBuk Province, Korea.