Print
Email
Print Edition StoriesThursday, February 25, 2010
GT Solar lands $200M in contracts
By Mass High Tech staff
MHT's Galen Moore: N.E. firms target individual carbon footprints
New England prepared to leverage smart grid expertise
Wind turbines in Maine
GT Solar International Inc. has announced it has recently signed more than $200 million in new contracts for the company’s DSS450 ingot growth furnaces and ancillary equipment and services.
The Merrimack, N.H.-based company develops technology and manufacturing equipment associated with the production of photovoltaic wafers, cells and modules, and polysilicon.
The contracts include a $137 million follow-on order from a large, unnamed customer in China. GT Solar’s other contract awards come from Tianwei New Energy Holdings Co. Ltd., Phoenix Photovoltaic Technology Co. Ltd., Yingli Green Energy Holding Company Ltd., JA Solar Holding Co. Ltd., Taiwan-based Sino-American Silicon Products (SAS) and another unnamed company.
The company pulled in a $20 million deal last week from Jiangxi Sornid Hi-Tech Co. Ltd. for its furnaces and ancillary equipment and services.
GT Solar (Nasdaq: SOLR) went public in July of 2008 in a $500 million initial public offering. The company had initially filed papers with the SEC in April 2007 for an IPO valued at $200 million.
Founded with $1,000 in stake money as GT Equipment by Kedar Gupta and Jonathan Talbott in 1994, GT Solar has been funded by sales from the start. It reported an annual net profit of $88 million on $541 million in total revenue for fiscal year 2009. Gupta has since gone on to found Advanced Renewable Energy Company LLC, a new cleantech venture in Nashua, N.H., that has developed an improved process for manufacturing the sapphire crystals used in light-emitting diode (LED) bulbs and displays.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
