Spire Corporation Renames Subsidiary

Solar company Spire Corporation (Nasdaq: SPIR) announced that Bandwidth Semiconductor, Spire’s wholly owned subsidiary, will become Spire Semiconductor effective January 1, 2008. Bandwidth currently provides Spire with crystalline silicon solar- cell process technology and has re-entered the fast-growing, gallium arsenide (GaAs) concentrator solar cell market.

The company says the name change will better align Bandwidth with Spire’s overall solar industry focus.

“GaAs solar cell activities are growing at Spire Semiconductor and are supplementing revenue growth from its portfolio of defense, biomedical and consumer products,” said Roger G. Little, Spire’s chairman and CEO. “This operation has held a pioneering position in the field and in the future we intend to place even more emphasis on the solar concentrator cell market. As Spire Semiconductor, this operation will be better integrated with Spire Corporation and share Spire’s vision as a world leader in the terrestrial solar energy industry.”

 

Edward D. Gagnon, general manager of Bandwidth Semiconductor, said, “We’re excited to capitalize on the growing market opportunity for custom GaAs-based solar cells and thermophotovoltaic power cells, while continuing to support our growing number of foundry customers with compound semiconductor epitaxial wafers and state-of-the-art device processing services.”

Bandwidth Semiconductor was formed in 1999 when Spire sold its optoelectronics division to Methode Electronics. Methode Electronics included Bandwidth in its Stratos Lightwave spin off in 2000. Proceeds from the offering were used in part to relocate the operation, build extensive, state-of-the-art clean rooms and add new semiconductor fabrication equipment. Spire subsequently reacquired Bandwidth in 2003 from Stratos Lightwave when the firm’s focus shifted from telecommunications.

About Spire Corporation

Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture photovoltaic modules worldwide. The company’s Spire Solar subsidiary is the world’s leading supplier of turnkey photovoltaic manufacturing lines and module manufacturing equipment. Spire Semiconductor develops and manufactures custom gallium arsenide solar cells and other related products for the commercial, biomedical and defense markets. The company’s Spire Biomedical subsidiary is a leader in hemodialysis catheters and implantable device processing services.