MARLBORO, Mass., Feb. 17 /PRNewswire-FirstCall/ -- Evergreen Solar, Inc.
(Nasdaq: ESLR), a developer, marketer, and manufacturer of photovoltaic (solar
power) products for the worldwide market, today filed objections with the
United States Bankruptcy Court in Delaware regarding the pending sale of the
assets of AstroPower, Inc. Richard M. Feldt, President and Chief Executive
Officer of Evergreen Solar, said, "We have a potential interest in acquiring
selected assets of AstroPower that will complement our String Ribbon
technology. Although no decision has been made whether to bid for any assets,
we want to ensure that, if we submit a bid, we will do so on a level playing
field."
About Evergreen Solar, Inc.
Evergreen Solar, Inc. (http://www.evergreensolar.com) develops, manufactures, and
markets solar power products utilizing the Company's patented solar power
technologies. The products provide reliable and environmentally clean
electric power in global markets. Solar power applications include wireless
power for remote homes, water pumping, lighting, and rural electrification, as
well as complete power systems for electric utility customers choosing to
generate their own environmentally benign power.
Evergreen Solar(R) is a registered trademark of Evergreen Solar, Inc.
This press release contains forward-looking statements made pursuant to
the safe harbor provisions of Section 21E of the Securities Exchange Act of
1934. The Company cautions you that any statements contained in this press
release, which are not strictly historical statements, constitute
forward-looking statements. These statements may be identified with such
words as "we expect," "we believe," "we anticipate," or similar indications of
future expectations. These statements are neither promises nor guarantees,
and involve risks and uncertainties that could cause actual results to differ
materially from such forward-looking statements. Such risks and uncertainties
include, among other things, the following factors: the Company's business and
results of operations could be materially impaired as a result of poor
manufacturing or product performance or high costs; the market for solar power
products is emerging and rapidly developing, and market demand for solar power
products such as the Company's products is uncertain; the Company has limited
experience manufacturing large volumes of solar power products on a commercial
basis at acceptable costs, which it will need to do in order to be successful;
and the Company faces intense competition from other companies producing solar
power and other distributed energy generation products. In addition to the
foregoing factors, the other economic, competitive, governmental,
technological, and other risk factors identified in the Company's filings with
the Securities and Exchange Commission - including the Company's Annual Report
on Form 10-K for the fiscal year ended December 31, 2002, filed on March 27,
2003, and Quarterly Report on Form 10-Q for the quarter ended September 30,
2003, filed on November 12, 2003 (a copy of which may be obtained at the SEC's
web site at: http://www.sec.gov) - could impact the forward-looking
statements contained in this press release. Readers should not place undue
reliance on any such forward-looking statements, which speak only as of the
date they are made. The Company disclaims any obligation to publicly update
or revise any such statements to reflect any change in Company expectations,
or in events, conditions, or circumstances on which any such statements may be
based, or that may affect the likelihood that actual results will differ from
those set forth in the forward-looking statements.
Contacts: Investors/Media:
Richard G. Chleboski Stephanie Carrington
Chief Financial Officer The Ruth Group
Evergreen Solar, Inc. 646-536-7017
508-357-2221 x708 scarrington@theruthgroup.com
investors@evergreensolar.com
SOURCE Evergreen Solar, Inc.
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Related links:
http://www.evergreensolar.com
CONTACT:
Richard G. Chleboski, Chief Financial Officer
of Evergreen Solar, Inc., +1-508-357-2221, ext. 708,
investors@evergreensolar.com; or Investors/Media - Stephanie
Carrington of The Ruth Group, +1-646-536-7017,
scarrington@theruthgroup.com, for Evergreen Solar, Inc.
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