BOVIET SOLAR IS ON TRACK TO BEGIN SOLAR MODULE MANUFACTURING AT NORTH CAROLINA FACILITY BY MID 2025

SAN JOSÉ, Calif., Jan. 15, 2025 /PRNewswire/ -- Boviet Solar Technology Co. Ltd. (the "Company" or "Boviet Solar"), a leading solar energy technology company specializing in monocrystalline PV cells and its Gamma Series^™ Monofacial and Vega Series^™ Bifacial PV modules, is pleased to announce it is on track to achieve its targeted production ramp-up in the first half of 2025 at its new state-of-the-art manufacturing facility in Greenville, Pitt County, North Carolina.

The company has successfully received all equipment for the project site, with over 50% of the equipment already placed on the shop floor. The remaining equipment will be positioned by the end of January 2025, with mechanical, electrical, and plumbing (MEP) connections scheduled for February. This marks a major milestone in the development of Boviet Solar's first North American production hub, emphasizing the company's commitment to advancing the renewable energy sector in the United States.

The Greenville facility, a $294 million investment, will focus on the production of Boviet Solar's industry-renowned Gamma Series^™ Monofacial and Vega Series^™ Bifacial PV modules, utilizing advanced N-Type solar cell technology.

• Phase I: Focused on module manufacturing, the facility is slated to produce 2.0 GW of solar panels annually, with mass production commencing in the first half of 2025.
• Phase II: Progressing steadily, the company completed land clearing and stump removal in December 2024 and will begin mass grading in January 2025. Phase II will include the production of high-efficiency solar cells, further enhancing the facility's capabilities with mass production commencing in the first half of 2026.

Once fully operational, the PV module and PV cell manufacturing facilities are expected to create approximately 908 skilled local jobs, supporting regional economic development while addressing the increasing demand for clean and sustainable energy solutions.

Scott Chen, Vice President of Global Sales and Marketing at Boviet Solar, remarked, "The progress at our Greenville factory highlights our dedication to providing innovative and reliable solar solutions. This milestone reinforces our commitment to supporting the U.S. solar market and accelerating the global transition to renewable energy."

Sienna Cen, President of Boviet Solar USA, added, "Our teams' hard work and collaboration have brought us closer to establishing a strong local manufacturing presence. The Greenville facility will play a pivotal role in meeting the energy needs of utility-scale and large commercial projects across North America."

The Greenville factory embodies Boviet Solar's mission to make the Earth a better place for all living beings by harnessing the power of the sun. This initiative reflects the company's leadership in sustainability, corporate responsibility, and its role in driving the global shift toward renewable energy.

About Boviet Solar

Boviet Solar is a leading solar technology company founded in 2013 in Vietnam, specializing in the manufacturing of high-performance Monocrystalline PV cells and high-quality Gamma Series^™ Monofacial and Vega Series^™ Bifacial PV modules for residential, commercial, industrial, community and utility-scale solar applications. Boviet Solar combines business acumen, financial stability, technological expertise, and manufacturing excellence to produce top-performing PV modules, while fostering mutual partnerships, ensuring sustainability, supply chain traceability, and compliance with international trade standards.

Boviet Solar has earned a reputation for excellence, holding Bloomberg New Energy Finance (BNEF) Tier 1 ranking, being recognized as one of the top 10 most reliable PV module manufacturers by Wood Mackenzie and Sinovoltaics, and consistently rated as a Top Performer in Kiwa PVEL's PV Module Reliability Scorecard, with successful manufacturing assessments conducted by Black & Veatch.

Boviet Solar's global headquarters is in Vietnam, with manufacturing facilities in both the USA and Vietnam, featuring an annual PV cell and PV module capacity of 3.0 GW, along with additional operations in the USA and Germany and other regional markets. For more information about our company and products, please visit www.bovietsolar.com

SOURCE Boviet Solar USA