Highland, NY (August 11, 2009) - In an effort to further establish New York as a hub for solar energy research and development, Congressman Maurice Hinchey (D-NY) today announced that he has secured $3.6 million in federal funding for Prism Solar Technologies, a manufacturing partner of The Solar Energy Consortium (TSEC), to create a spin-off company that is expected to create 300 jobs over the next two to three years.  The new company will manufacture and bring to market a flexible solar ribbon cell application that is in high-demand by the U.S. military.

“This federal funding will further establish the Hudson Valley as a central hub for solar research, development, and manufacturing,” Hinchey said. “The investments that Prism Solar Technologies will make in the development of its new spin-off company will pave the way for the creation of 300 jobs over the next several years, which will further grow the solar industry in New York and also contribute to overall economic growth throughout the region.  We are positioning New York very well to be on the receiving end of increased federal investments in solar energy research, development, and products.”
The $3.6 million that Hinchey secured is included in the fiscal year 2010 Defense Appropriations bill that the House approved on July 30.  The Senate is expected to approve its own version of the bill next month.  The funds will be awarded to TSEC and passed through to Prism, which will then use the money to purchase equipment for its new spin-off company that will engage in research and development of a new photovoltaic ribbon cell.  The $3.6 million that Hinchey has brought in will leverage an additional $6 million in private investment to support the research and development of this new product.

The first 12-18 months of this new initiative will entail the development of a business plan for the new company, the completion of research and development with TSEC and its partners, and the production of the new solar ribbon product.  During that initial period, the company expects to create 20 new engineering, science-related, and business executive jobs.  Following the research and development phases, a production facility will be established in Ulster County where 280 people will be hired to manufacture photovoltaic ribbon cell products.

Prism Solar Technologies will be a prime customer of the product, using it in the second generation of its own modules, but the military is expected to have a deep interest in the product.  This ribbon solar cell technology is a process for growing long thin ribbon crystals of silicon that can be used in photovoltaic electricity generation.  These solar ribbon cells consist of thin films that conform to virtually any possible shape.  The products are lightweight, foldable, rugged, portable and efficient.  They can extend missions and improve logistics since soldiers won’t have to carry batteries or alter their missions to re-power equipment.  The solar equipment will also significantly reduce costs as compared with primary batteries. Fabrics with this technology can recharge batteries in the field by sitting on the sun as part of uniforms, tent covers or camouflage gun covers.

Hinchey previously used his position on the House Appropriations Committee to secure $2 million in federal funding to facilitate Prism’s move to the Hudson Valley.  Prism is continuing to prepare its facility in Highland to produce modules.  The company is ramping up its staff levels and operations, hiring 80 people and installing the equipment for its first production line that is expected to be running as early as the end of next month — four months sooner than originally expected.

“Everyone knows that solar and renewable energy is going to become increasingly more prominent in the short and long-term, which is why it is so critical that we are making these investments now,” Hinchey said. “The more solar-related businesses we add to the region, the easier it becomes to attract even more businesses to the area.  The future is very bright for the Hudson Valley.”

Solar company attracted by Empire State’s green business incentives

Hopewell Junction, NY (April 7, 2009) – SpectraWatt, Inc., a manufacturer and supplier of advanced silicon photovoltaic cells to the solar industry, announced today its intention to establish the company’s first factory and its new headquarters at the Hudson Valley Research Park in Hopewell Junction, N.Y. The move would initially create over 100 jobs in the New York region within the first year of operation.

“Between the skilled work force, outstanding support from the Empire State Development Corporation http://www.empire.state.ny.us and the valuable programs offered by the New York State Energy Research and Development Authority http://www.nyserda.org , the decision to locate in New York was very easy for us,” said Andrew Wilson, CEO of SpectraWatt. “We look forward to building a successful future from our new home in the Empire State.”

“SpectraWatt’s decision to bring their headquarters and R&D operations to Dutchess County is an enormous win for the State of New York and is a testament to the State’s ability to attract emerging and fast-growing industries,” said New York Governor David A. Paterson. “Following in the footsteps of world-class technology companies to locate their R&D facilities in New York State, including IBM and General Electric, SpectraWatt’s investment further solidifies New York as a prominent leader in green technology and is a vital component to securing our State’s future economic stability.”

The company, which is in the process of moving from their previous location in Oregon, aims to be in production early in 2010. SpectraWatt’ s first factory line will have an initial manufacturing capacity of 60 megawatts (MW); additional lines are already being planned with site capacity exceeding 120MW within the first two years of operation.

“The solar industry has grown forty-one percent annually in recent years and, according to some forecasts, is expected to continue growing at a thirty-seven percent growth rate over the next five years. The solar industry is perhaps the fastest growing high technology industry in the world today,” said Marisa Lago, CEO and president, Empire State Development (ESD). “With its significant capital investment and creation of many high-paying jobs, SpectraWatt is making an enormous contribution to the State’s economy at a critical time.”

About SpectraWatt SpectraWatt is a manufacturer and supplier of photovoltaic cells for the solar industry. In addition to focusing on advanced solar cell technologies, SpectraWatt concentrates on improvements in current manufacturing processes and capabilities to reduce the cost of photovoltaic energy generation. Its mission is to deliver solar energy at grid parity through product and manufacturing technology innovation. Investors include Intel Capital, Cogentrix Energy, PCG Clean Energy and Technology Fund and Solon SE.

Highland, NY (March 29, 2009) – Prism Solar Technologies, Inc. (PST), has announced closing on the acquisition of a new manufacturing site in upstate New York. The site, located in Highland New York, includes 6.5 acres of land and a 93,000 sq. ft manufacturing building. The facility was purchased for $3,750,000 from PLASMACO, a Panasonic facility.  Prism intends to create over two hundred jobs in the first few years and up to 400 over five years. However, some new job creation may occur at another site in the area.  The Highland facility will ultimately produce 60 megawatts of solar modules for domestic markets and 1000 megawatts of HPC film for sale to other solar module manufacturers.  It’s the first time an optics technology will be used to leverage the capacity of the entire solar industry.

“We are extremely excited to have purchased this unique facility” said Rick Lewandowski, Prism’s CEO.  “This will allow us to jump-start our operations and will immediately begin renovating the facility to allow a quick transition to our module manufacturing pilot line and then on to full production.”

Prism’s new plant includes features that would normally be found in a purpose-built site, such as glass handling and glass cleaning equipment, a compete machine shop, specialty optical equipment, 30,000 sq. ft of clean-rooms, a wet lab, facility-wide security and building management systems. Some equipment can be modified to produce thin film and crystalline photovoltaic cells and modules.  “We value this facility, including its equipment and clean rooms, to be over ten times what we paid,” states Tom Kacandes, Prism’s Director of Operations.

“Prism is very fortunate to have a great team working on this project”, said Lewandowski.  “Not only do we have a top level staff, but the network of government and non-governmental people including Congressman Maurice Hinchey, The Solar Energy Consortium (TSEC), Ulster County Industrial Development Agency (IDA) and County Executive Mike Hein along with local leadership in the Town of Lloyd, have all worked hard to help Prism find a home. Frankly, this is more than we could have hoped for,” Lewandowski went on to say.

“Prism is exactly the kind of solar industry partner that TSEC had hoped to attract to the Mid-Hudson Valley.  The company has industry leading technology, a talented management team, and is community minded.  They are the flagship TSEC partner and we will continue to do everything we can to help them grow quickly in NYS, and we look forward to the good employment opportunity they are creating,” says Vincent Cozzolino, TSEC’s President.

Congressman Hinchey facilitated a $1,000,000 grant for Prism Solar through The Solar Energy Consortium (TSEC) earlier this year as part of its financing to begin manufacturing of its patented holographic planar concentrator technology in New York State.  Additional funding for Prism was included in the Omnibus Budget bill passed by the Congress earlier this year.

“These are the moments we hoped for and expected when we created TSEC two years ago and the reason we made subsequent federal investments,” Hinchey said. “With Prism’s expansive new facility in place, hundreds of new jobs will steadily be created over the next several years in Ulster County.  Prism and the rest of TSEC’s partners will help grow our local economy while also helping to free our country of its dependence on foreign oil and other fossil fuels.”

Governor Paterson Commends LIPA and Con Edison for Leadership on Renewable Energy Initiative May Be the Country’s Largest Offshore Wind Project

New York, NY ( March 23, 2009) - Long Island Power Authority (LIPA) President and CEO Kevin S. Law and Consolidated Edison (Con Edison) Chairman and CEO Kevin Burke have announced that their public-private partnership is moving forward with plans for a new phase of study on a major offshore wind farm.

A joint feasibility study released today by the two utilities concluded that an interconnection of up to 700 MW of wind power, located at least 13 miles off the Rockaway Peninsula in the Atlantic Ocean, would be feasible with upgrades to their respective transmission systems.

The proposed “LIPA/Con Edison Offshore Wind Farm” would likely be designed for 350 MW of generation, with the ability to expand it to 700 MW, giving it the potential to be the largest offshore wind proposal in the country. The concept for the offshore wind project emanates from New York State Governor David A. Paterson’s Renewable Energy Task Force and is consistent with the Governor’s “45 by 15″ program, which establishes the goal for the State to meet 45 percent of its electricity needs through improved energy efficiency and renewable sources by the year 2015. LIPA and Con Edison have also filed an application to interconnect the offshore wind project with the New York Independent System Operator (NYISO) for up to 1400 MW by 2020, which would permit a future expansion beyond the 700 MW.

“As a state and as a nation, we must find alternative solutions to traditional fossil fuel sources. By taking advantage of the natural resources that New York has to offer, we will position ourselves to be the national leader in renewable and alternative energy as our economy emerges from the current crisis,” said Governor David A. Paterson. “LIPA and Con Edison have partnered to take a lead role in wind power, successfully completing the first phase of this joint partnership with their study of the technical aspects of connecting off-shore wind energy to the state’s electricity system.”

“I am strongly encouraged by the preliminary analysis which demonstrates a large offshore wind project can work in our service territory,” said LIPA President and CEO Kevin S. Law. “As a member of Governor Paterson’s Renewable Energy Task Force, I remain committed to not only continue with the next phase of the process, but also to bring this wind project to fruition if we can make it cost effective for our customers.”
“We are committed to helping the state meet its renewable energy goals, while continuing to support efforts that provide a clean environment for our customers,” said Con Edison Chairman and CEO Kevin Burke. “An offshore wind farm would be an exciting project for New York, and we will work closely with federal, state and municipal leaders to move this process along in a responsible way.”

The formation of the Con Edison and LIPA interdisciplinary working group was announced by the Governor last fall with a goal of studying, among other things, suitable locations for an offshore wind project, transmission and interconnection capabilities, and the availability of wind as an energy source. The information gathered was used to provide a better understanding of the opportunities for such a project and, if feasible, the development of jointly issued request for proposals whereby both utilities could share the cost of the project, as well as the power it generates.

As the second phase begins for the wind project, LIPA and Con Edison will work with the state, the New York Power Authority, New York City, the Metropolitan Transportation Authority, and the Port Authority to issue a request for expressions of interest (RFEI) for off-shore wind development. The RFEI serves as a precursor to a Request for Proposals (RFP) to be issued later this year. It is anticipated that other interested state and city agencies will be invited to participate in the project’s next phase and/or the RFP process.

Additional next steps include:

• Creation of a joint LIPA/Con Edison Web site to keep the wind industry, communities and stakeholders informed of the project’s progress;

• Working with the New York State Energy Research and Development Authority (NYSERDA) to develop a Meteorological Tower to assess wind strength in the proposed project location.

In addition, both utilities will begin another round of due diligence that will concentrate on the economics and feasibility of the actual offshore wind farm, including: determining if there is sufficient wind resources to meet the scope of the project; an avian (bird impacts) study, further environmental impacts, economic costs, community impact and the potential number of jobs the project could create.
The offshore wind-power working group marks the first regional partnership project between LIPA and Con Edison.

A copy of the interconnect study may be obtained by following either of the following links:

http://www.lipower.org/newscenter/pr/2009/032009-windstudy.pdf
http://www.coned.com/messages/WindProjectStudy.pdf

Media Contacts:
For LIPA:
Ed Dumas
VP of Communications
516.719.9838 (Office)
631.872.2790 (Cell)

For Con Edison:
Michael Clendenin
Director of Media Relations
212.460.4111

23 September 2008 | Market Watch: News

After repeated failures to pass similar legislation, the U.S. Senate voted Tuesday to extend the investment tax credits for solar and other renewable energy sources as well as renew the R&D tax credit for another year, the Associated Press reports. The $17 billion renewable credits package (known as the “Energy Improvement and Extension Act of 2008,” an amendment to HR 6049) is part of a major tax relief bill approved in a 93-2 vote.

The House of Representative still has to vote on the renewable energy credits’ portion of the bill. Reuters reports that the White House said Tuesday morning that it will now sign the legislation.

The energy legislation extends for eight years, through 2016, investment tax credits for the solar power industry and for homeowners who install solar and wind equipment.

After the vote, Rhone Resch, president of the Solar Energy Industries Association (SEIA), issued the following statement.

“The Senate took an important step today to put America back to work with clean, reliable, and job-creating solar power.  With major instability in our financial markets, solar energy is a guaranteed way to provide the stability we need in our economy right now.

“I applaud the Senate for reaching a bipartisan consensus to extend the solar tax credits, which are critical to the growth of the solar market in the U.S.  I especially want to thank Majority Leader Reid and Minority Leader McConnell, Senate Finance Chairman Baucus and ranking member Grassley, and Senators Cantwell and Ensign for their leadership in brokering this agreement.

“Extension of the solar investment tax credit has been more than two years in the making and is a major victory for the solar industry and for consumers facing higher energy prices in the U.S. Under the Senate bill, the solar tax credits will be extended for eight years, for both commercial and residential consumers.  The bill also makes several major improvements that puts solar energy within reach for all Americans. This includes a complete elimination of the $2000 cap for residential systems and an allowance for utilities to make use of the commercial credit.  Also, the bill allows those taxpayers that trigger AMT (alternative minimum tax) to take the solar tax credit.

“With a long-term ITC in place, the solar industry will grow exponentially in the coming years.  A study released by Navigant Consulting just this week showed that more than 1.2 million employment opportunties, including 440,000 permanent jobs, and $232 billion in investment would be supported by 2016 with an eight-year extension of the ITC.  And perhaps most important, the solar industry will create jobs in all 50 states.  Today, the Senate brought these promising projections closer to reality.

“All eyes are now on the House that is in a position to swiftly pass the Senate legislation before members leave next week and get the bill to the President’s desk.”  

The SEIA said it “expects the Senate will complete votes on other amendments and pass HR 6049 later today (Tuesday).”

– Tom Cheyney

September 5, 2008
Solar markets are booming in the United States according to a new report from the Interstate Renewable Energy Council. U.S. Solar Market Trends for 2007 is a comprehensive report on U.S. solar installations by technology, state and market sector. Larry Sherwood wrote the report and the U.S. Department of Energy through the Solar America Initiative (SAI) provided the funding.

“The solar growth rate accelerated after the 2006 increase in the federal investment tax credits,” said Larry Sherwood.  “By 2007, the capacity of PV installed each year more than doubled the annual amount installed in 2005.”   

The report includes both grid-connected and off-grid PV, solar hot water and solar pool heating and solar thermal electric installations. The numbers are impressive.   

Over 80,000 installations were completed in 2007 and the capacity of photovoltaic (PV) installations completed in 2007 grew by 48% compared with 2006.  The two largest U.S. PV installations, one in Nevada and one in Colorado, were completed in 2007.  The PV market is expanding to more states, though California remains the dominant market.

Solar hot water installations (low-temperature thermal) have boomed since the 2006 increase in the federal investment tax credit. In the continental 48 states, installations have quadrupled since 2005.  Hawaii continues to be the largest market for solar hot water.

For concentrating solar electricity (high-temperature thermal), the 64 MW Nevada Solar One solar thermal electric plant went on-line June 2007.  Other than a smaller 1 MW plant built in Arizona in 2006, this was the first new U.S. solar thermal electric plant constructed in over 15 years.

Sherwood says that continued growth in these markets is tied to the continuation of the federal investment tax credits.  “Growth for both PV and solar hot water markets in 2009 depends on the timely extension of these tax credits.  Consumers will wait to buy until they know tax credits are available,” he said. 

To read the report in its entirety, visit the IREC website - http://www.irecusa.org/index.php?id=68&tx_ttnews[tt_news]=1187&tx_ttnews[backPid]=1&cHash=268a2ff6c0

Date: August, 2008
by Dr. Paula Doe, Contributing Editor, Solid-State Technology

August 25, 2008 - The explosion of photovoltaics production across the globe completely reshuffled the top companies in Nomura Securities’ annual ranking of the leading companies, knocking long established Japanese players out of the top spots and putting four Asian suppliers in the Top 10. Japan’s leading solar companies outline their strategies for this changing market in this report from SST partner Nikkei Microdevices.
Fast growing Q-Cells AG became the world’s largest solar cell maker in 2007, producing nearly 400 MW worth of product. Longtime solar industry leader Sharp found itself in second place as production slipped to roughly 370MW, which the company blamed on a constrained supply of silicon. China’s Suntech was close behind the leaders with more than 300MW output, pushing Kyocera and its 200MW to a distant third.
Middle

Four new companies jumped into the top ranks. CdTe-cell maker First Solar debuted at fifth place, the only US-based and only thin-film supplier on the list. Asian players Motech Industries (Taiwan), Yingli Green Energy (China), and JA Solar Holdings (China/Australia) rounded out the rankings, pushing aside some long-established players like Mitsubishi Electric, Schott AG, and BP Solar (see Figure 1).

Nomura notes that Japan’s overall share of the solar cell market, at 50% a few years ago, is now down to about 20% and could well slip to 15% in the next few years as the rest of the world ramps up solar-cell production.

The major Japanese suppliers are aiming for major growth of their own in the next two years, with big expansions in capacity — on the gigawatt scale at Sharp and Showa Shell Solar KK — and on new technologies they say will significantly improve efficiency. “The next two years will determine the winners,” AIST Research Center for Photovoltaics director Michio Kondo told Nikkei Microdevices. “Later entrants won’t be able to catch up to those who put an all out effort now into technology and scale and speed. A year from now will be too late.”

Sharp’s comeback strategy is a major ramp of production capacity in both crystalline and thin-film cells, and an expansion across the entire solar value chain, to assure capturing the highest value-added parts of the business and the high value of integrating the whole system, reports Tetsuro Muramatsu, GM of the company’s solar systems group. He says Sharp plans 1GW of capacity for crystalline cells and another 1GW of capacity of thin-film cells by 2010, counting on the economies-of-scale from the high-volume production to reduce costs enough to bring solar electricity down to close to the target $0.21/kWh.

Sharp figures the solar cells or modules themselves account for only 25% (for x-Si) to 40% (thin-film) of the added value of the finished total system, with materials as much as 20% (x-Si), and systems and engineering another 35%-40%. Accordingly, the firm has in recent months started its expansion across the value chain by forming a company to develop solar production equipment with Tokyo Electron, by signing on to solar power production deals with utilities in Japan and Italy, and by investing in developing large-capacity, low-cost storage batteries for solar systems through Japanese Li-ion venture ELIIY Power. The company eyes bringing solar systems to regions of the world with no electrical grid with government supported lease financing.

Also planning to ramp to 1GW capacity by 2011 is Showa Shell Solar, which currently makes only 20MW a year of its CIS thin-film cells. A second planned plant will bring total capacity to 60MW by next year, and another much bigger plant will reach 1GW by 2011, targeting as well a jump to 10%-12% CIS efficiency. The economies-of-scale of high-volume production will mean lower materials and facilities costs, argues director of planning Yuichi Kuroda. “Overseas rivals are moving towards gigawatt scale plants,” he notes. “If we don’t outpace them, we’ll lose out.” Showa Shell has so far relied on equipment it designed in-house, but to speed up development of better deposition technology for higher-efficiency film it is developing a next-generation high-volume tool set jointly with Ulvac.

Contributing to the rapid industry ramp-up of capacity are new players buying turnkey thin-film deposition lines from Applied Materials, Oerlikon Balzers, or Ulvac. Applied says it had contracted for sales totaling 1.7GW of capacity across 10 customers as of June. Ulvac’s Yoshio Sunaga, senior managing director and chief director of the FPD business, says it has orders for 217.5MW worth, from NexPower Technology, Sunner Solar, China Solar Power, and another Chinese and another Korean customer, who altogether plan future expansions of 650MW more. Ulvac is just starting to expand its marketing to Europe, India, and the Middle East. Sunaga reports Ulvac has installed capacity to produce 600MW/year worth of tools at its Tohoku facility.

The initial turnkey lines have gotten up and running in a quick 16-19 months. Taiwan’s NexPower ordered 37.5MW capacity from Ulvac in March 2007 and started shipping 6.5% efficient cells in June 2008. Moser Baer Photovoltaic ordered 40MW capacity from Applied in March 2007, started initial production in July 2008, and plans to start shipping product in September.

Some question, however, how a company can distinguish itself in the long term if it makes the same product with the same turnkey production line as its competitors. NexPower president Semi Wang told Nikkei Microdevices his company planned to find its own ways to improve its future production lines itself to reduce costs, with its own developments and with equipment from other companies. Kaneka’s Mikio Hatta, managing executive officer of the solar energy division, questions how producers making 6%-7% efficient cells on turnkey lines can compete with the 10%-11% efficient cells his company makes with equipment it developed itself.

Other major players Sanyo Electric, Kyocera, Mitsubishi Electric, Kaneka, and Mitsubishi Heavy Industries plan more modest capacity expansions over the next few years, concentrating instead primarily on developing their proprietary new technologies to make higher-efficiency cells at lower cost, often relying initially on specialty equipment developed in-house.

Kyocera and Mitsubishi Electric each plan to expand to 500MW annual capacity for crystalline solar cells by 2010-2012, noting their growth plans are limited primarily by the amount of silicon they expect to be able to obtain. Both companies say they have no plans to start thin-film production in the foreseeable future, though both are continuing research efforts. Instead, they count on significantly improved efficiencies from new x-Si technologies. Kyocera solar energy marketing manager Ichiro Ikeda says his company plans to start production in April 2009 of its back-contact cells, which are now getting 18.5% efficiency in the lab. Solar systems manager Satoshi Ikeda reports Mitsubishi Electric plans volume production in 2010 of its honeycomb cells, currently with R&D efficiency of 18.6%.

“With a plentiful supply of silicon available again, and revolutionary new technologies ready for market, 2010-2011 will be a crucial turning point,” says Showa Shell Solar’s Kuroda. “Companies who miss this window of opportunity will lose out to the competition.” — P.D.

Press Releases - August 14, 2008

DIX HILLS, NY - (MARKET WIRE)- Solar Thin Films, Inc. (OTC BB:SLTN.OB - News), a developer, manufacturer and marketer of manufacturing equipment for the production of “thin-film” amorphous silicon photovoltaic modules, announced today the signing of an agreement with Ulster County, New York, for the establishment of a solar module manufacturing plant. The accord was negotiated with Congressman Maurice Hinchey (D-NY), Ulster County officials, and representatives from the Ulster County Development Corporation (UCDC) and The Solar Energy Consortium (TSEC). As part of the transaction, the Company will establish a new manufacturing facility in Ulster County. The facility will represent Solar Thin Films’ first amorphous solar module manufacturing plant in the United States.
The Company will utilize solar module manufacturing machinery produced by Kraft Electronikai Srt., based in Budapest, Hungary, a subsidiary of Solar Thin Films. The Company anticipates that, once established, the facility will be capable of establishing six lines of equipment capable of producing 36 megawatts of module power. In addition, Solar Thin Films will also use its new Ulster County location for research into the enhancement of amorphous silicon module efficiency as well as the development of copper indium gallium selenide (CIGS) panels. The parties believe that the new facility will create a substantial number of new jobs in Ulster County over the next five years.
In his keynote statement, Congressman Hinchey said:
“Today we take another enormous step forward in our goal of establishing the Hudson Valley and all of New York as a national and international hub for solar research and development. I am especially pleased that Solar Thin Films uses amorphous silicon since it is the most well-developed thin film technology to-date and has a promising avenue of further development. Solar Thin Films is playing a critical role in the steady advancement of solar technology by increasing the efficiency of solar products and lowering their costs. I am excited to welcome into The Solar Energy Consortium, Solar Thin Films — a firm dedicated to making solar technology more mainstream across the county, state and country.”
“TSEC is to be complimented in making Solar Thin Films aware of the enormous potential available in Ulster County as the company pursues its goal to be a leading provider of amorphous silicon solar modules,” Robert Rubin, Solar Thin Films’ Chairman said. “TSEC and the Ulster County Development Corporation have assisted Solar Thin Films in finding an appropriate factory site, have assisted us in satisfying our financial needs and have been instrumental in forging potential power partnerships with local utilities. These steps will be instrumental in protecting the environment, reducing our need and utilization of oil and significantly alter the rate of the energy cost spiral. We hope to be a major employer in the county and more importantly a very good neighbor.”
Solar Thin Films will formally apply for a $10 million industrial development bond with the assistance of the Ulster County Development Corporation in order to aid in the purchase of equipment. Ultimately, Solar Thin Films will invest approximately $60 million into the manufacturing and research components.
The amorphous silicon modules produced in Ulster County will be offered for sale worldwide.

About Solar Thin Films
Solar Thin Films (www.solarthinfilms.com) develops, manufactures and markets a complete line of manufacturing equipment for the production of “thin-film” amorphous silicon photovoltaic (”PV”) modules, together with a wholly owned subsidiary based in Budapest, Hungary. Personnel associated with the company have been responsible for the setup of nearly a dozen amorphous silicon photovoltaic factories worldwide. The Company sells both “turnkey systems” to customers including CG Solar in China and Grupo Unisolar in Spain, and contracted equipment to customers including EPV Solar (Hamilton, NJ, USA). Its line of proven, cost-effective thin-film photovoltaic manufacturing equipment positions the Company to take advantage of the rapidly growing demand for solar modules and an expected market shift towards “thin film” PV modules as part of a cost effective, “clean technology” energy solution.

Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, potential applications of the Company’s technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements including: limited operating history, need for future capital, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company’s periodic reports, including Forms 10-KSB, 10-QSB, 8-K, and other forms filed with the Securities and Exchange Commission (”SEC”). These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties.

October 03, 2008
Solar Thin Films Gains Technology Expertise and New Order Pipeline
September 09, 2008
Solar Thin Films Schedules Delivery and Installation Of 5MW Amorphous Silicon Module Manufacturing Plant For Grupo Unisolar, S.A.
August 20, 2008
Solar Thin Films Signs Strategic Alliance and Cross License Agreement with Amelio Solar Inc.
August 14, 2008
Solar Thin Films, Inc. Enters Into Agreement With Ulster County, New York to Establish a Solar Module Manufacturing Facility
June 05, 2008
Solar Thin Films Enters into Letter of Intent to Acquire Majority Interest in BudaSolar Technologies
May 30, 2008
Solar Thin Films Partners with China Singyes Holding to Establish 100MW Module Manufacturing Facility in China
April 17, 2008
Solar Thin Films, Inc. Receives $12,300,000 Order From Grupo Unisolar, S.A.
April 03, 2008
Solar Thin Films, Inc. Acquires Equity Interest in CG Solar of China
March 28, 2008
Solar Thin Films, Inc. Enters Into Marketing Agreement with CG Solar of China
October 25, 2007
Solar Thin Films, Inc. Announces Formation of Majority Owned Subsidiary Solar Thin Power, Inc.
January 03, 2007
Solar Thin Films enters agreement with Renewable Energy Solutions to prepare for production of next generation CIGS-based thin film PV equipment and turnkey facilities
December 10, 2006
Solar Thin Films, Inc. Announces Shipment
December 07, 2006
Solar Thin Films, Inc. Announces Shipment

State of New York | Executive Chamber
David A. Paterson | Governor
July 15, 2008

IBM Agrees to Invest $1.5 Billion

State Will Invest $140 Million to Secure IBM Commitment, Creating 1,000 News Jobs

Governor David A. Paterson today announced significant new investments by IBM and New York State, accelerating New York State’s international leadership in nanotechnology research and development and creating up to 1,000 new high-tech jobs Upstate. The State will provide a total of $140 million in economic development grants, leveraging more than a ten-to-one private investment of $1.5 billion from IBM.

The investment will go toward three separate and complementary components of a comprehensive project, supporting the nanotechnology chip computer activities of IBM: the expansion of IBM’s operations at the College of Nanoscale Science and Engineering at the University at Albany (Albany NanoTech), the creation of a new, advanced semiconductor packaging research and development center at a to-be-determined in Upstate New York, and the upgrading of IBM’s East Fishkill facility in Dutchess County.

“With this announcement, we are once again demonstrating that New York State is open for business. We offer a highly skilled workforce and high quality of life. New York State is also, now more than ever, a clear national leader in nanotechnology development,” said Governor Paterson. “The positive effects of this critical investment will be felt for a generation, and will be the catalyst for other high tech business development throughout Upstate New York. Our State has become the leading location for nanotechnology research and development.”

The three projects will collectively advance “nano-chip” technologies, including cutting-edge chip design, demonstration, and testing which all takes place at Albany NanoTech. Nano-chips each carry billions of transistors, and applications include high-end personal computers and laptops; high-performance servers and supercomputers; virtual reality and advanced electronic games; medical devices and components; ultra-fast telecommunications devices; “sensor-on-a-chip” systems for anti-terrorism and “soldier-in-the-field” remote monitoring and sensing.

“This agreement demonstrates the potential of public-private academic collaboration. IBM applauds the bold leadership of Governor Paterson, Senator Bruno, Speaker Silver and other New York State leaders for their commitment to high-tech economic development,” said Dr. John E. Kelly III, IBM senior vice president and director of research. “These new investments will spur continuing advancements in nanotechnology and semiconductor research and development – including new efforts in semiconductor packaging – propelling IBM chip innovations and solidifying the state’s reputation as a high-technology leader.”

IBM has agreed to expand its operations at Albany NanoTech and the State will also provide $25 million to acquire state-of-the-art infrastructure and advanced semiconductor tooling at that location, resulting in the creation of 325 new research and development jobs.

To build on the successes at Albany NanoTech, the State will invest $50 million toward the establishment of a new, 120,000 square foot semiconductor packaging center at a to-be-determined location in Upstate New York. This center will be established, managed and owned by the College of Nanoscale Science and Engineering, with IBM conducting operations at that site. Rensselaer Polytechnic Institute (RPI) will also be a research partner in the new packaging facility. It is expected this public-private partnership will ultimately create over 675 jobs.

Today’s agreement will also help IBM retain more than 1,000 key semiconductor jobs at its East Fishkill plant in Dutchess County. The company has agreed to provide significant resources to upgrade that site with state-of-the-art technology. The State will additionally provide $65 million toward that effort.

U.S. Senator Charles E. Schumer said: “One thousand high-paying, high-tech jobs is terrific news for all of Tech Valley and Upstate New York. Not only will it secure thousands of IBM jobs in the Hudson Valley, but it strengthens IBM’s presence at the world-renowned Nano Campus at UAlbany, and bolsters the network of nanotechnology suppliers across upstate. I had several discussions with our State leaders as this deal took shape and I know how hard they worked with IBM and the NanoCollege to put it together. I am confident that it will have a major economic development and job impact on the Upstate economy for years to come.”

Senate Majority Leader Dean G. Skelos said: “I applaud Senator Joe Bruno for showing, again, his leadership in getting a deal done to create new jobs for the Capital Region, the Hudson Valley and all of Upstate New York. For over a decade, Senator Bruno has been the catalyst for high tech economic development projects that have created tens of thousands of new jobs. As the new Senate Majority Leader, I will continue our efforts to encourage new business growth to revitalize all of Upstate New York. I look forward to working with Governor Paterson to make New York more economically competitive with other states and countries so we can have many more job creation announcements such as this across the State.”

By Henry Fountain

New York Times
Published: February 26, 2008

Solar power generated by photovoltaic cells is among the greenest of energy options. The cells just sit there, basking in the sun and emitting nothing but electrons.

But cells are manufactured, and the manufacturing process is not benign. Over the life cycle of solar cells — from the mining of raw materials to the finished product — just how green are they?

Vasilis M. Fthenakis of Brookhaven National Laboratory and colleagues have the latest analysis to be published in Environmental Science and Technology. The short answer is that photovoltaic cells are still very green.

The researchers looked at emissions of greenhouse gases and pollutants like nitrogen oxide gases and heavy metals from the manufacture of four types of cells. Most of the emissions are results of the electricity used, and the amounts depend in part on the mix of electricity in the grid, or how much comes from coal plants, hydroelectric, nuclear and the like.

The researchers found that thin-film cadmium telluride cells were the greenest, although the differences among the four types were slight. All told, the researchers say, replacing electrical power from the grid with electricity generated by solar cells results in at least an 89 percent reduction in greenhouse gases and pollutants.