Spire Corporation (Nasdaq: SPIR) has received a contract from Dongyang Creditech Co. Ltd., located in South Korea, to provide a photovoltaic module assembly line.
Spire, a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic modules, cells, and wafers, will provide Dongyang with a semi-automated crystalline cell module manufacturing line capable of producing up to 12 megawatts (MW) of solar modules per year, according to a company release.
Spire says it will supply the process technology and training to operate the factory and that the line is designed to be easily doubled at a later date.
According to a recent report from the South Korean Ministry of Commerce, Industry and Energy, South Korea is poised to enter the global solar market with domestically produced modules. Exports of solar-power related equipment have recently begun and have already risen from $45 million in 2006 to more than $180 million in 2007, according to the report.
"The South Korean solar market is in the early stages of a capacity boom, and we are pleased to partner with Dongyang Creditech to be a part of this dramatic growth," said Roger G. Little, Chairman and CEO of Spire Corporation.
About Dongyang Creditech Co. Ltd.
Dongyang Creditech was founded in 1973 in South Korea and has been listed under the South Korea stock market, KOSDAQ (Korean Securities Dealers Automated Quotations) since 2002. Dongyang Creditech provides components for liquid crystal display (LCD) and cathode-ray tube (CRT) displays in Asia and Europe and conducts research and development in organic light-emitting diode (OLED) technology.
About Spire Corporation
Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture photovoltaic modules worldwide. 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 service.
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