GT Solar signs over $40 million in new contracts with GCL-Poly

MERRIMACK, USA: GT Solar International Inc., a global provider of specialized production equipment, process technology and turnkey manufacturing services for the solar power industry, has signed contracts in excess of $40 million with two wholly owned subsidiaries of China-based GCL-Poly Energy Holdings Ltd (GCL-Poly).

The first agreement, with Jiangsu Zhongneng Polysilicon Technology Development Co. Ltd is for GT Solar’s best-in-class Trichlorosilane (TCS) Production Technology Solution. The second, with Jiangsu GCL Silicon Material Technology Development Co. Ltd is for GT Solar’s market-leading Directional Solidification System (DSS) furnaces and ancillary equipment. These contracts represent the first purchases of GT Solar equipment and services by GCL-Poly and its subsidiaries.

GT Solar’s TCS Production Solution includes all of the technology and basic engineering services required to produce TCS, one of the primary raw materials used to manufacture polysilicon. GT Solar’s DSS furnaces are used to melt polysilicon and grow multi-crystalline ingots, which are utilized to produce solar wafers and, ultimately, solar cells.

“GCL-Poly is committed to providing high-quality and cost-competitive solar raw materials by adopting the best-in-class technologies and equipment,” said Zhu Gong Shan, executive director, chairman and chief executive officer of GCL-Poly.

“We chose to purchase the TCS Production Solution and DSS units from GT Solar because of their proven expertise in both polysilicon production and ingot crystallization. GT Solar’s TCS production solution should help to improve the quality and lower the cost of our polysilicon operations. Their expected timely delivery of the DSS furnaces should help to ensure that our new ingot and wafer production facility can be up-and-running in 2010.”

“We are pleased to welcome GCL-Poly as a new GT Solar customer for both our polysilicon and photovoltaic equipment businesses,” said Tom Gutierrez, GT Solar’s president and chief executive officer.

“Our relationship with GCL-Poly further strengthens our market position in China and reinforces our role as a technology leader. We believe GT Solar’s DSS furnaces are the system of choice for leading PV manufacturers around the world. And, our TCS Production Technology Solution represents another win for this leading technology that should help to significantly lower the production cost of polysilicon.”