Inline solar cell measurement equipment specialist Aurora Solar Technologies (AST) is expecting 2018 to be a record year for new orders, as major PV manufacturers continue to migrate and ramp high-efficiency solar cells such as monocrystalline PERC (Passivated Emitter Rear Cell) and bifacial cell technologies.
Michael Heaven, Aurora’s Chief Executive Officer said, “We continue to see strong traction of our systems for monocrystalline PERC and bifacial applications and have already exceeded last year’s revenue by 35%. While there were some delays on order decisions pending the Section 201 Solar Trade Case in the United States, we continue to track new order opportunities from current and new customers of between 40 and 80 systems which would position Aurora with a record level of backlog heading into our next fiscal year.”
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AST highlighted a number of customer engagements that could turn into significant new orders in 2018. The company noted the delivery and start-up of two Decima Gemini systems for a bifacial cell line with a leading global manufacturer of cell production equipment, which could lead to all process tools being integrated with AST’s technology for inline processing.
The company also noted the installation and start-up up of a Decima Gemini measurement system with Veritas process visualization software on a new bifacial cell line for the leading ‘Silicon Module Super League’ (SMSL) member and the possibility of major orders to follow.
AST also highlighted that it was in discussions with three ‘significant’ customers interested in evaluating its VQCS (Veritas Quality Control System) for use on a monthly subscription basis as well as working with potential customers planning Industry 4.0 initiatives.
Financial results
Canada-based AST reported fiscal third quarter revenue of $337,325, gross margin of 62.9%, resulting in an operating income loss of $398,959. In the first fiscal nine month period, AST reported revenue of $1,903,020, up 238% over the same period last year, while reducing operating losses by over 67% to $674,983, compared to the prior year period.
The company also noted that it had unrecognized revenue from shipments and order backlog of approximately $600,000 at the end of the reporting period.