With one of the largest order backlogs amongst solar industry equipment suppliers GT Solar International reported fiscal third quarter revenue of US$173.6 million, compared with US$104.2 million in the second fiscal quarter and US$205.2 million in the third quarter of fiscal year 2009. The company raised FY2010 guidance to the upper end of its previous range with revenue expectation of US$500 million to US$550 million.
Emcore has entered into a share purchase agreement to create a joint venture with Tangshan Caofeidian Investment Corporation (TCIC) where TCIC will purchase a 60% interest in Emcore's Fiber Optics. The JV, Emcore Fiber Optics, Limited (EFO) will be registered in Hong Kong.
After significant polysilicon and wafer price declines in 2009, MEMC executives have become more upbeat about demand and price stability entering the first quarter of 2010 and beyond. In a conference call to discuss fourth quarter results, the company noted that capacity utilization of silicon wafer production was at approximately 80%, with a demand recovery underway in the semiconductor industry, enabling a firming in prices to that sector. In solar, price declines were said to have moderated and the company was now shipping wafers to 10 of the top 25 PV manufacturers, compared to having made shipments to only 2 solar customers at the beginning of 2009.
Dow Corning has reported consolidated net income of US$270.5 million for the fourth quarter of 2009, an increase of 57% from net income of $172.6 million reported in the fourth quarter of 2008.
Cylindrical thin-film PV manufacturer Solyndra has signed a new distribution agreement with Allied Building Products, a leading U.S. distributor of roofing, solar and other building products and materials. Allied will be the CIGS solar company's first North American distributor.
Sanyo North America and InSpec have formed a partnership agreement aimed at providing total energy solutions for customers seeking to reduce energy consumption and improve the overall efficiency of their facility operations.
Solyndra has tapped former First Solar executive John Gaffney as its new senior VP of corporate development and general counsel. He will lead the CIGS thin-film PV company's legal and corporate development activities and will report to CEO Chris Gronet.
In the latest move by a solar manufacturer to take advantage of the lucrative feed-in tariffs in Ontario, the Siliken Group plans to build a crystalline-silicon photovoltaics module production plant in the Canadian province. Set for an initial capacity of 50MW, the factory could start operations in the last quarter of this year and create as many as 150 jobs, according to the Spanish firm.
