Evergreen Solar is seeing more Green $1.2B
By Azam on July 15, 2008
Evergreen contract deal with IBC extends through 2013 and brings the company’s total contractual backlog to nearly $3 billion with 5 customers. Evergreen recently announced in June contracts for $600M with signed deals to provide solar panels to groSolar and Germany’s Wagner & Co Solartechnik, which will be manufactured at the company’s Devens, Massachusetts, plant. The recent deals endorses Evergeen Solar low-cost “String Ribbon” technology to produce solar cells. The Ribbon technology enables an efficient production technique of solar panels in strip as opposed to the costly solar photo voltaic cells of traditional solar wafer technology.
Evergreen was formed in 1994 around technology licensed from MIT’s Emanuel Sachs that dramatically changed how photovoltaics were manufactured in cheaper manufacturing method. Emmanuel Sachs’ new venture, MIT spinoff 1366 Technologies, is out to improve further design and manufacturing improvements from Sachs’ lab into solar power that’s cheaper than coal power.
Categories : CleanTags : , Evergreen Solar, IBC Solar AG, Solar, String Ribbon