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Solar energy manufacturing equipment company GT Advanced Technologies Inc. (Nasdaq: GTAT) today announced that it has received a $47.7 million order for polysilicon production equipment from a company that is working to build out solar energy in Saudi Arabia.
GT, based in Merrimack, N.H., said the order came from Polysilicon Technology Co., which is a joint venture between solar energy investment firm Mutajadedah Energy Co. and KCC Corp. of Korea.
The order includes GT’s SDRTM 400 reactors, and is the first from Saudi Arabia for the company, which said the project in Jubail Industrial City is the only polysilicon production project in the Middle East. GT said in a press release that the order brings the company’s polysilicon bookings to more than $500 million in the current fiscal year.
Earlier this month GT announced that it was close to finalizing settlement of a class action suit by investors relating to its 2008 initial public offering.
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