AUBURN HILLS, Mich., Oct. 5 /PRNewswire/ -- United Solar Ovonic LLC, a
wholly owned subsidiary of Energy Conversion Devices, Inc. (Nasdaq: ENER),
announced today that it has signed a multi-year supply agreement with
Enfinity Management BVBA for 21.15 MW of UNI-SOLAR(R) thin-film
photovoltaic (PV) laminates. Under the agreement, United Solar will supply
Enfinity 1.15MW in calendar year 2007 and 10MW in each of the calendar
years 2008 and 2009. Enfinity intends to use the UNI-SOLAR(R) products for
roof-top installations in Europe.
"The UNI-SOLAR product is uniquely suited for roof-top applications
because it is lightweight, provides superior electricity generation and
integrates directly into the roof structure. These advantages, combined
with the ease of installation, provide a cost-effective solution that we
can offer to our customers," said Gino Van Neer, Chief Executive Officer of
Enfinity. Enfinity, headquartered in Ghent, Belgium, has raised private
equity funds for PV projects in Europe. It has already financed PV projects
with a total capacity of more than 30MW and is planning to finance several
hundred megawatts through 2010.
"We are pleased to have established this multi-year supply relationship
with Enfinity, a leading investor in PV projects. Investors like Enfinity
see the unique value proposition offered by our UNI-SOLAR products,
particularly for roof-top systems where our product features provide a
cost-effective PV solution. We look forward to working closely with
Enfinity and its customers on the success of these roof-top projects," said
Subhendu Guha, the President and Chief Operating Officer of United Solar
Ovonic.
Unlike traditional crystalline technology, which typically uses heavy
glass panels, UNI-SOLAR products are flexible, durable, lightweight and
easy to install. Because of these characteristics, UNI-SOLAR
triple-junction products offer the ideal solution for both grid-connected
and off-grid solar electric systems. Independent studies in Europe and
elsewhere have shown that triple-junction products deliver more energy per
rated power than the conventional crystalline products.
About United Solar Ovonic
United Solar Ovonic, building on technology invented and pioneered by
ECD, is the world leader in thin-film amorphous photovoltaics. Because of
characteristics unique to the United Solar Ovonic solar cell technology,
such as lightweight, ruggedness and flexibility, it is ideal as
building-integrated photovoltaic roofing systems for residential and
industrial customers. ECD and United Solar Ovonic hold the basic patents
covering the continuous roll- to-roll manufacturing of thin-film
amorphous-silicon alloy multi-junction solar cells and related products.
More information is available at http://www.uni-solar.com.
This release may contain forward-looking statements within the meaning
of the Safe Harbor Provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are based on assumptions which
ECD, as of the date of this release, believes to be reasonable and
appropriate. ECD cautions, however, that the actual facts and conditions
that may exist in the future could vary materially from the assumed facts
and conditions upon which such forward-looking statements are based. The
risk factors identified in the ECD filings with the Securities and Exchange
Commission, including the company's most recent Annual Report on Form 10-K,
could impact any forward- looking statements contained in this release.
SOURCE United Solar Ovonic LLC
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Related links:
http://www.ovonic.com
http://www.uni-solar.com http://www.enfinity.biz
CONTACT:
Ghazaleh Koefod - Investor Relations, Energy
Conversion Devices, Inc., +1-248-293-0440, or Tracey Rettig -
Corporate Communications Specialist, United Solar Ovonic LLC,
+1-248-364-5781, or Enfinity International, Ghent - Belgium, +32
(9) 2451570, Fax - +32 (9) 2457233, info@enfinity.be
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