centrotherm photovoltaics AG

Convincing project successes for centrotherm photovoltaics in Asia and the USA

• Asian customer entrusts centrotherm with exclusive responsibility for second development stage in polysilicon production • First turnkey line in the USA commissioned • Greater planning security based on support for renewable energy sources in the USA

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Blaubeuren (euro adhoc) - Blaubeuren, October 8, 2008 - centrotherm photovoltaics AG has confirmed the extent of confidence invested in the company by winning an extensive follow-up order in the solar silicon area from an Asian customer. The company is supplying planning, plant construction, process know-how, and key equipment on a one-stop shop basis, having convincingly won the order in the face of international competition. While the first development stage, entailing a production capacity of approximately 1,000 tons of solar silicon per year, was created by a consortium of companies including centrotherm photovoltaics, the second development stage, which entails a planned production volume of 4,000 tons of solar silicon per year, is the exclusive responsibility of Blaubeuren-based centrotherm photovoltaics. Robert Hartung, Chief Executive Officer of centrotherm photovoltaics AG comments: "This follow-up order in the solar silicon area confirms our strategy of growing along the solar value-creation chain, and provides further proof that we not only command extensive expertise, but that we are also highly capable and strong in implementation."

centrotherm photovoltaics is also continuing to add chapters to its success story in the American market: the first turnkey production line started cell production in the USA in early October. "Against the backdrop of rising energy costs interest in renewable energy sources is increasing in the US. The government has now responded with corresponding opportunities to support solar projects and other alternative energy sources," explains Dr. Peter Fath, Chief Technology Officer of centrotherm photovoltaics. In early October, the US House of Representatives approved the Senate's plans to extend promotional schemes for renewable energy sources for a further eight years. These schemes were due to expire on December 31, 2008. So-called Investment Tax Credits (ITC's) were approved mainly for the solar area and fuel cells. Production Tax Credits for solar energy will also be extended up to 2010, thereby providing further tax reliefs for the sector.

centrotherm photovoltaics AG generated around 90 percent of its sales abroad in the first half of 2008, including in the highest growth markets of Asia and the USA. With regards to booking new orders, the company is pursuing a highly conservative strategy. "As a rule at centrotherm, we only book orders when we have received prepayments and letters of credit," explained CFO Oliver Albrecht. "This policy has served us well to date, and we intend to retain it in the future."

end of announcement                               euro adhoc

Further inquiry note:

Company contact:
Saskia Schultz-Ebert
Senior Manager Investor Relations
Tel: +49 7344 918-8890
E-mail: saskia.schultz-ebert@centrotherm.de

Press contact:
Christina Siebels, Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 3690 50-58 /-31
E-mail: c.siebels@hoschke.de; g.pauli@hoschke.de

Branche: Energy
Börsen: Börse Frankfurt / regulated dealing/prime standard

Original-Content von: centrotherm photovoltaics AG, übermittelt durch news aktuell

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