UNI-SOLAR, a leading global manufacturer of light-weight, flexible thin-film solar modules and a wholly-owned subsidiary of Energy Conversion Devices is attending InterSolar Europe, where the company continued to discuss its Technology Roadmap to 12% conversion efficiency by 2012 with a cost-per-watt of less than one dollar. In the following years, the company is targeting 20+% conversion efficiency.
The UNI-SOLAR Technology Roadmap calls for evolutionary development of the company’s existing technology. This includes enhancing the laminate which will improve conversion efficiencies to 8.2% by close of 2010 calendar year, High Rate Deposition which targets 10% by end of 2011, and HybridNano Technology targeting 12% by end of 2012.
“Today, UNI-SOLAR offers the lightest solar PV products and industry-leading energy output. We are continuing to develop our technology by focusing on improving our conversion efficiency to 12% and beyond. We have demonstrated that our core technology is capable of conversion efficiency of 15.4% in the lab, and we are now focused on translating those results into commercial production volumes at 12% and ultimately improve the conversion efficiency to 20+%,” said Mark Morelli, President and CEO of UNI-SOLAR’s parent company, Energy Conversion Devices.
“Upon successful completion of this advancement to 12%, UNI-SOLAR will offer a differentiated product with superior energy yield, and competitive conversion efficiency and system price. This puts us in an excellent position, because as we reach a higher level of conversion efficiency, our product differentiation is very compelling to PV buyers,” said Mr. Morelli.
About Energy Conversion Devices/United Solar
Energy Conversion Devices is a leader in building-integrated and rooftop photovoltaics. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD’s UNI-SOLAR(R) brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. Through its Solar Integrated Technologies business, the company also designs, manufactures and installs rooftop photovoltaic systems, which enable customers to transform unused space on the rooftop into a value-generating asset. In addition, ECD’s Ovonic Materials Division is the pioneer in NiMH battery technology, and is developing low cost fuel cells, hydrogen production from bioreformation, and hydrogen storage technologies. For more information, please visit www.energyconversiondevices.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. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: our ability to maintain our customer relationships; the worldwide demand for electricity and the market for solar energy; the supply and price of components and raw materials for our products; and our customers’ ability to access the capital needed to finance the purchase of our product. 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 and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Energy Conversion Devices, Inc.
CONTACT: Lovio George