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GT Solar Signs $173 Million Contract With DC Chemical

Published Wednesday Sep 3, 2008

GT Solar Incorporated, a global provider of specialized equipment and technology for the solar power industry, signed a $173 million contract in July with DC Chemical Co., Ltd., a leading Korean chemical company.

Under the terms of the agreement, GT Solar will provide DC Chemical with state-of-the-art polysilicon CVD reactors, which are used to manufacture polysilicon, a key raw material used to produce solar cells. This latest agreement marks the third contract between the two companies since GT Solar began offering CVD reactors and related equipment in 2006.

Higher global energy prices, increased environmental awareness and the desire for energy security are accelerating the adoption of solar power. In addition, governments around the world have implemented various tariffs, tax credits and other incentives designed to encourage the use of solar power, said Tom Zarrella, president and chief executive officer for GT Solar International. DC Chemical has constructed its first polysilicon plant, has begun manufacturing polysilicon, and recently announced a large-scale expansion. We are proud to be working with this forward-thinking company and pleased to support their expanding operations.

Polysilicon is a highly purified form of silicon that is used to make both semiconductor wafers for microelectronics applications and solar wafers. The chemical vapor deposition process involved in the production of polysilicon takes place in a specialized CVD reactor using a variety of complex chemical processes.

GT Solar is expected to begin delivering reactors to DC Chemical in April 2009.
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