Spire Corporation (Nasdaq: SPIR) has finalized with Gloria Solar Co., Ltd. (Gloria Solar), of Tainan, Taiwan, Republic of China, an affiliate of E-TON Solar Tech Co., Ltd., a joint venture to address the domestic solar photovoltaic (PV) systems market. The joint venture’s business will be named Gloria Spire Solar, LLC, and it will headquarter its operations in Bedford, Massachusetts.
Gloria Spire Solar will conduct business as a PV Systems integrator within the United States, designing, marketing, selling, and managing installations of solar PV systems, with particular focus on the commercial/industrial and utility markets.
Along with the establishment of this PV Systems venture, Gloria Solar purchased from Spire Corporation its existing building integrated PV module manufacturing facility, which will be operated by the Joint Venture in Bedford.
Additionally, another 50MW Spire module manufacturing facility was ordered by Gloria Solar for its existing operations in Tainan, Taiwan, Republic of China, this additional capacity will also be available to support the Joint Venture. Mr. Mark Goodreau, who has been managing Spire’s existing systems integration business, will lead the collaboration as its first CEO.
Roger G. Little, Chairman and CEO of Spire Corporation, said, “We are excited to form this Joint Venture with Gloria Solar and expand our position in the PV systems business. The collaboration brings together the Spire experience and pedigree of over 1.5MW of commercial/industrial solar PV installations of all sorts, and the Gloria financial and PV material supply resources, which will enable the Joint Venture to become a major player in the U.S. marketplace.”
George Hsu, COO of Gloria Solar, said, “We will have 20MW of module manufacturing capacity, including a production line in the United States with UL and IEC certification from this collaboration. By working with Spire, we achieve a win-win situation in the blooming PV market in the United States. We will continue to expand with an additional 75MW of module manufacturing equipment from Spire in coming quarters, to become a leading PV player in the world.”
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