Evergreen Solar Reports Higher Year-End Results

Evergreen Solar, a U.S. solar energy manufacturer says revenue last year was up more than 100 percent from 1999, as a result of a solar project in Tokyo.

WALTHAM, Massachusetts – A U.S. solar energy manufacturer says revenue last year was up more than 100 percent from 1999, as a result of a solar project in Tokyo. Evergreen Solar Inc reports product revenue for 2000 was $419,000, up 122 percent from the$189,000 in 1999. “We are pleased with our 2000 results, particularly the strength of our partnership with Kawasaki Heavy Industries,” says president and CEO Mark Farber. “A major contributor to product revenues in 2000 was the project with Kawasaki for the World Trade Center in Tokyo, which we finished shipping during the fourth quarter.” The Japanese project will require 85 kilowatts of PV modules. Last October, the company was awarded a three-year, $2 million contract from the Advanced Technology Program of the U.S. Department of Commerce, and it also took delivery of the first String Ribbon furnaces designed to produce 3.2-inch wafers for its new factory in Marlboro, Massachusetts. “We continue to advance our manufacturing technology and product development efforts,” adds Farber. “In the fourth quarter, we made good progress on boosting conversion efficiency and increasing the width of our patented String Ribbon wafers from 2.2 to 3.2 inches. At our Waltham plant, we took delivery of the first three String Ribbon furnaces designed for 3.2-inch wafer production in Marlboro.” The company previously announced plans to move its production facility to Marlboro, but Farber admits they are behind schedule and over original cost projections. The move was to be completed by January, but that date has been set to April. As a result, he predicts that research will be delayed and operating losses for this year will likely exceed $10 million. Evergreen Solar manufactures and markets solar power products using a patented solar power technology. Its applications include wireless power for remote homes, water pumping, lighting, and rural electrification, as well as complete power systems for electric utility customers to generate their own green power.

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