Amtech Obtains Second High-Efficiency N-Type Solar Customer
TEMPE, Ariz., June 19, 2013 /PRNewswire/ -- Amtech Systems, Inc. (NASDAQ: ASYS), a global supplier of production and automation systems and related supplies for the manufacture of solar cells, semiconductors, and sapphire and silicon wafers, today announced its solar subsidiary, Tempress Systems, received a multi-million dollar order (in the low teens) for its advanced diffusion and PECVD equipment to be used in Nexolon USA's facility located in San Antonio, Texas. The order is for 100MW and is the first phase of a planned 200MW turnkey project executed by the n-PASHA Alliance for Nexolon. Shipment is expected in the first half of fiscal 2014.
The n-PASHA Alliance members consist of Tempress Systems, ECN (Energy Research Centre of The Netherlands), and RENA GmbH. The Alliance was established in 2012 to more effectively offer the n-PASHA technology, an n-type bi-facial cell concept developed by ECN, which yields high cell efficiencies at a competitive cost level to the solar industry. The n-PASHA cells used for bi-facial modules generate electricity from light coming through both the front and rear side of the panel positioning the solar field to generate 10-20% more power at no additional cost. Additionally, the n-type modules do not suffer from LID (light induced degradation) compared to power loss of typically several percentage points for commonly used p-type modules.
Mr. Fokko Pentinga, CEO of Amtech Systems, Inc., commented: "We have found that through continued research and development and advancement of the n-PASHA technology we can support a distinguishable next generation high efficiency solar cell structure solution at an attractive cost of ownership. Obtaining the second customer for this n-type technology, as well as a production order for our new PECVD systems, is a great milestone for Amtech, underscoring that Amtech is on the right technology path as the solar market progresses towards higher value solutions. At Tempress, with our industry-leading Alliance partners, we are well-positioned to participate and capitalize on the solar industry's next technology buying cycle, and we believe the n-type cell will be the choice of many customers in the coming years. We look forward to working with Nexolon in San Antonio, Texas, a future solar hub in the USA, on this exciting project."
About Amtech Systems, Inc.
Amtech Systems, Inc. manufactures capital equipment, including silicon wafer handling automation, thermal processing and ion implant equipment and related consumables used in fabricating solar cells, LED and semiconductor devices. Semiconductors, or semiconductor chips, are fabricated on silicon wafer substrates, sliced from ingots, and are part of the circuitry, or electronic components, of many products including solar cells, computers, telecommunications devices, automotive products, consumer goods, and industrial automation and control systems. The Company's wafer handling, thermal processing and consumable products currently address the diffusion, oxidation, and deposition steps used in the fabrication of solar cells, LEDs, semiconductors, MEMS and the polishing of newly sliced silicon wafers.
Cautionary Note Regarding Forward-Looking Statements
This press release should be read in conjunction with our consolidated financial statements and the related notes and Management's Discussion and Analysis included in Amtech Systems, Inc.'s filing on Form 10-Q or Form 10-K for the fiscal periods referred to above. Certain information contained in this press release is forward-looking in nature. All statements in this press release, or made by management of Amtech Systems, Inc. and its subsidiaries ("the Company" or "Amtech"), other than statements of historical fact, are hereby identified as "forward-looking statements" (as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "would," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Examples of forward-looking statements include statements regarding Amtech's future financial results, operating results, business strategies, projected costs, products under development, competitive positions and plans and objectives of the Company and its management for future operations.
We cannot guarantee that any forward-looking statement will be realized, although we believe that the expectations reflected in the forward-looking statements are reasonable. Achievement of future results is subject to risks, uncertainties and potentially inaccurate assumptions. The Form 10-K that we filed with the Securities and Exchange Commission for the year-ended September 30, 2012 listed various important factors that could affect Amtech's future operating results and financial condition and could cause actual results to differ materially from historical results and expectations based on forward-looking statements made in this document or elsewhere by Amtech or on its behalf. These factors can be found under the heading "Risk Factors" in the Form 10-K and investors should refer to them. Because it is not possible to predict or identify all such factors, any such list cannot be considered a complete set of all potential risks or uncertainties. Except as required by law, we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Amtech Systems, Inc.