DayStar Technologies, Inc. (Nasdaq: DSTI) has reached an agreement with Blitzstrom GmbH (“Blitzstrom”), a photovoltaic (PV) systems integrator, to extend and expand its 2005 purchase agreement for the Company’s exclusive TerraFoil(TM) solar cells. The agreement was reached while in attendance at the 21st European Photovoltaic Solar Energy Conference, held in Dresden, Germany.
In June 2005, DayStar and Blitzstrom signed a purchase agreement for Blitzstrom to purchase up to 30 megawatts (“MW”) of its TerraFoil(TM) solar cells through the end of 2008. The amended agreement calls for the purchase of up to 130 MW of DayStar’s TerraFoil(TM) product through the end of 2010.
In addition, DayStar has resumed commercial shipments of TerraFoil(TM) solar cell products to Blitzstrom. The TerraFoil(TM) cells are destined for Titan Energy in India, Blitzstrom’s contract module manufacturer, where they will be used as an alternative to silicon wafer cells to produce traditional flat-plate PV modules. Blitzstrom plans to use the finished modules for their worldwide solar energy system sales.
Under the amended agreement with Blitzstrom, DayStar will continue shipments of its TerraFoil(TM) solar cells which are manufactured using its CIGS technology. Unlike other thin-film PV products, DayStar’s TerraFoil(TM) is manufactured on unbreakable metal foil as discrete solar cells that can be interconnected and packaged similar to silicon wafer cells.
This approach allows significantly better product yields and lower potential product costs. In response to the opportunity afforded by the recent supply shortage of silicon wafers, DayStar has initiated the aggressive expansion of its Gen III(TM) manufacturing platform development, targeting 20 MW of capacity by the end of 2007.
“We recognize the unique advantages of DayStar’s thin-film CIGS technology and its ability to continue to improve the economics of PV systems,” said Bernhard Beck, CEO of Blitzstrom GmbH. “By extending relationships with key suppliers like DayStar, we are positioning ourselves as a market leader in thin-film system integration, supplying optimized solar energy solutions to our customers. We look forward to a long and successful relationship with DayStar.”
“DayStar is very pleased to announce this contract extension with Blitzstrom. This clearly underscores our customer’s confidence in our ability to deliver high quality, cost competitive solar products,” said Dr. John R. Tuttle, Chairman and CEO of DayStar Technologies. “DayStar continues to stay focused on its manufacturing development and scale-up plans to become a world leader as the manufacturer of next generation PV technologies.”
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