SunEdison, Inc. (NYSE: SUNE), a leading global solar technology manufacturer and provider of solar energy services, today announced that its most advanced polysilicon technology was now in production and on target to produce solar material at the lowest cost in the world. This achievement represents a step-change in technology and will enable SunEdison to deliver a 400 watt peak solar panel at a cost of $0.40 per watt peak by 2016.
“Solar energy is at a transformational moment in time and innovative technology is what will power that transformation,” said Ahmad Chatila, Chief Executive Officer of SunEdison. “Our latest advance is a leap forward in solar technology and will enable solar power to become the lowest cost energy solution – not just an alternative to other renewables, but the cost-winner over fossil fuels as well.”
The technology, called “high pressure fluidized bed reactor” (HP-FBR), produces high purity polysilicon 10 times more efficiently and with 90% less energy used than non FBR technologies. SunEdison’s new HP-FBR technology requires less land, less capital and fewer natural resources, delivering a more economical and sustainable method to produce polysilicon at the lowest overall cost. This breakthrough will reduce the cost of the raw material needed to produce solar panels to less than $0.05 per watt peak by 2016.
HP-FBR technology is now in production in an Ulsan, Korea joint venture facility of SunEdison, SunEdison Semiconductor, and Samsung Fine Chemicals (SFC).
“This technology represents a significant competitive advantage for our company”, said Shaker Sadasivam, President and CEO of SunEdison Semiconductor Ltd. “With the successful start-up of our proprietary HP-FBR technology we’re on target to meet our goal of producing significantly lower cost, semi-grade polysilicon.”
The capacity of the Korean plant was originally designed for 10,000 metric tons (MT) per year but has been enhanced to 13,500 MT. The plant will be operating at full capacity in the first quarter of 2015.
About SunEdison
SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility customers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company’s Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa, India and Asia. SunEdison’s common stock is listed on the New York Stock Exchange under the symbol “SUNE.” To learn more visit www.sunedison.com.
About SunEdison Semiconductor
SunEdison Semiconductor is a global leader in the manufacture and sale of silicon wafers to the semiconductor industry. For over 55 years, SunEdison Semiconductor has been a pioneer in the design and development of silicon wafer technologies. With R&D and manufacturing facilities in the U.S., Europe and Asia, SunEdison Semiconductor enables the next generation of high performance semiconductor devices. SunEdison Semiconductor’s common stock is listed on the NASDAQ OMX Global Select market under the symbol “SEMI.”
About Samsung Fine Chemicals
SFC is a chemical affiliate of Samsung Group and a producer of electronic materials such as Laser Printer Toner, BT Powder, and Liquid Crystal Polymer, as well as specialty chemicals used for a variety of industries, including pharmaceutical coating materials and construction additives. SFC is reinforcing the business portfolio by expanding into environmental friendly products such as biodegradable polymer, and renewable energy materials. SFC’s common stock is listed on the Korean Stock Exchange under the symbol “004000.KR” and is included in the KOSPI 200 Index. For more information on SFC, please visit www.sfc.samsung.co.kr.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including that as a result of a joint venture with Samsung Fine Chemicals, SunEdison has developed a new high pressure fluidized bed reactor technology that is on target to produce solar material at the lowest cost in the world, that the achievement represents a step-change in technology and will enable SunEdison to deliver a 400 watt peak solar panel at a cost of $0.40 per watt peak by 2016; and the technology will reduce the contribution of polysilcon, to the module cost, to less than $0.05/watt by 2016. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison’s filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison’s judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.
SOURCE SunEdison, Inc.
