ECD/United Solar/Bekaert-ECD Announce New 25 Megawatt Facility
20 September 2000
ECD/United Solar/Bekaert-ECD Announce New 25 Megawatt Facility
TROY, Mich., Sept. 20 United Solar Systems Corp. (United
Solar), Bekaert-ECD Solar Systems LLC (Bekaert-ECD) and Energy Conversion
Devices, Inc. (ECD) announced today that the city of Auburn
Hills, Michigan, has been chosen as the site for United Solar's new 25
megawatt annual capacity manufacturing facility.
NV Bekaert S.A. (Bekaert) and ECD formed a strategic alliance in April
pursuant to which Bekaert will invest $84 million in the joint venture,
$50 million of which will be an investment in the new manufacturing equipment,
to be designed and built by ECD. The 25 megawatt annual capacity
manufacturing facility, based on ECD's proprietary triple-junction continuous
roll-to-roll production technology, will expand United Solar's manufacturing
capacity five-fold as well as accelerate market penetration of United Solar's
unique lightweight and flexible solar products.
Stanford R. Ovshinsky, chairman and CEO of United Solar, said, "We are
very pleased that we are locating our new expanded manufacturing facility in
Michigan. This capacity expansion represents a major step in United Solar's
goal of producing photovoltaic products which, in high volume, can be
competitive with conventional fuels -- a much sought-after solution."
"The new manufacturing equipment will be the largest thin-film
photovoltaic production facility in the world," said Subhendu Guha, president
of United Solar and Bekaert-ECD. "We thank the City of Auburn Hills, Oakland
County and the State of Michigan for providing us the necessary support to
locate this plant in Michigan."
In a press release issued by Governor John Engler's office announcing the
incentive package to Bekaert-ECD to locate in Michigan, Governor Engler said,
"With three powerful companies behind this joint venture, Bekaert, United
Solar Systems Corp. and ECD, it's bound to be a success." For the full text
of the announcement by the Governor's office, visit ECD's web site at
http://www.ovonic.com .
United Solar is the world leader in thin-film amorphous photovoltaics.
ECD and United Solar have pioneered, developed and hold basic patents covering
the continuous roll-to-roll manufacturing of thin-film amorphous silicon alloy
multi-junction solar cells. Among its many PV products, United Solar offers a
revolutionary new line of solar electric roofing panels, which are unique,
flexible, lightweight and architecturally attractive. The UNI-SOLAR(R)
roofing products include standing seam metal roofing and solar roofing
shingles, which have been lauded by the U.S. Department of Energy (DOE).
Other products include solar battery chargers, framed power modules, Uni-Kit
Lighting Systems, which offer significant advantages over conventional solar
panels in providing more energy per rated watt under normal outdoor
conditions. United Solar's web site address is http://www.uni-solar.com .
Bekaert, the worldwide leading manufacturer of steel wire, steel wire
products and steel cord, is a fast-growing manufacturer of advanced materials.
Its market and technological leadership is based on metal-forming and a wide
range of coating technologies. Bekaert is a worldwide company with over 70
production centers and a workforce of 17,000 people.
ECD is a leader in the synthesis of new materials and the development of
advanced production technology and innovative products. It has pioneered and
developed enabling technologies leading to new products and production
processes based on amorphous, disordered and related materials, with an
emphasis on advanced information technologies, such as phase change optical
memory and electronic memory and switches, and alternative energy, including
photovoltaics, fuel cells, hydride batteries and hydride storage materials
capable of storing hydrogen in a solid state for use as a feed stock for fuel
cells or internal combustion engines or as an enhancement or replacement for
any type of hydrocarbon fuel. ECD's web site address is http://www.ovonic.com
This release may contain forward-looking statements within the meaning of
the Safe Harbor Provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements are based on assumptions which ECD, as
of the date of this release, believes to be reasonable and appropriate. ECD
cautions, however, that the actual facts and conditions that may exist in the
future could vary materially from the assumed facts and conditions upon which
such forward-looking statements are based.