1. Home
  2. Articles posted by: Rona Fried (Page 1907)

Evergreen Solar Announces $70 Million Sales Agreement with PowerLight Corp.

Evergreen Solar, Inc. (Nasdaq: ESLR), a solar PV manufacturer, announced its largest sales agreement to date – with PowerLight Corporation. The guaranteed contract calls for Evergreen Solar to ship a minimum of $70 million of photovoltaic (PV) modules to PowerLight over the next four years. There are defined options which could increase the value of the shipments in the contract to approximately $170 million. Shipments to PowerLight are scheduled to commence during the first half of 2006. PowerLight Corporation is a market leader in developing innovative solar electric technologies and large-scale, grid-connected projects for customers worldwide. PowerLight plans to use Evergreen Solar’s products for projects around the globe. “This new agreement with PowerLight is a significant milestone for Evergreen Solar. It reaffirms the value proposition of our String Ribbon wafer technology and our expansion strategy,” said Richard M. Feldt, Evergreen Solar’s President and Chief Executive Officer. Evergreen Solar’s patented String Ribbon wafer technology enables the Company to manufacture solar wafers, cells and modules more efficiently than conventional methods. This proprietary technology generates nearly one-and-a-half times as much power per pound of refined silicon as conventional methods. Daniel Shugar, PowerLight’s President, stated, “With its pioneering String Ribbon technology and rapidly expanding […]

Read More

FuelCell Energy Sells 1.5 MW of Fuel Cell Stacks to European Partner

FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of fuel cell power generation plants for commercial and industrial customers, announced it has received an order for six fuel cell stacks from its European partner MTU CFC Solutions GmbH, a subsidiary of DaimlerChrysler (NYSE:DCX ). MTU, which in previous years purchased a total of 2.75 megawatts of fuel cell stacks, incorporates FuelCell Energy’s high efficiency, low-emissions technology in the HotModule balance of plant design it manufactures for the European market. To date, MTU has installed over a dozen such power plants based on FuelCell Energy’s systems for applications such as manufacturing, wastewater treatment, telecommunications, universities, hospitals and electric utilities. FuelCell Energy will deliver the additional 1.5 megawatts of stacks, consisting of six 250 kilowatt units, in 2006. Financial terms of the sale were not disclosed. MTU power plants built around FCE’s stacks among others currently in operation include a Michelin tire plant, a Deutsche Telecom telecommunications center and the utility RWE’s Energy Park, as well as a major shipbuilding facility in Cartagena, Spain. Website: http://www.fuelcellenergy.com     

Read More