Posts Tagged ‘HicZ’

GT Announces Project Win for HiCz Technology

Posted: June 12, 2014 by mattmargolis24 in Uncategorized
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GT Announces Project Win for HiCz Technology

The project win with Qatar Solar Energy (QSE) is subject to QSE’s receipt of government approvals and financing before the project win becomes in an offical equipment order. As far as revenue recognition, HiCz will likely have a longer period of acceptance that could range from 6 to 12 months after the equipment is delivered before revenue can be recognized.

MERRIMACK, N.H., June 12, 2014 (GLOBE NEWSWIRE) — GT Advanced Technologies Inc., (Nasdaq:GTAT), today announced that it has secured a project win for its proprietary, next-generation HiCz continuous feeding puller technology that is expected to help enable the solar industry’s transition to higher efficiency, lower cost solar material. The company has entered into an agreement with Qatar Solar Energy (QSE) to supply its HiCz™200 furnaces for QSE’s integrated PV manufacturing project in Doha, Qatar. As noted by QSE in a recent press release, QSE has opened a 300MW integrated facility and plans for the project to reach 2.5GW. The supply agreement is subject to QSE’s receipt of government approvals and financing, at which time GT would expect to receive the equipment order.
“We are pleased that GT has been selected to supply its HiCz™200 monocrystalline furnace to QSE,” said Dave Keck, executive vice president of GT’s solar business. “This is an exciting opportunity for GT to have our leading edge HiCz technology selected to be a part of the first vertically integrated PV manufacturing facility in the MENA region. The GT HiCz 200 furnace is expected to produce high quality n-type wafers for solar cells with efficiencies that exceed 22 percent.”

HiCz is GT’s proprietary next-generation monocrystalline PV puller capable of growing both p-type and n-type monocrystalline ingots. The HiCz continuous feeding growth process offers significant advantages over traditional batch Cz furnaces making it particularly well suited for the production of n-type ingots. The HiCz growth process produces longer ingots with greater material uniformity and lower resistivity. This process lowers the cost of wafering through improvements in yield, enables higher quality material and is expected to provide a path to higher efficiency solar cells.

Full Disclosure: I am long GTAT

I will be breaking down the financial impact of this deal for my PTT Forensics Research Subscribers in the near future. Join now and be the first to find out!

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Courtesy of PV Magazine, they expect PV  “demand for 2014 is expected to be higher than last year, the industry expects that the main driver for investment in polysilicon production tools and innovation will be increased demand for high-efficiency solar cells in 2015”.  What this translates into is that yes PV growth will be outstanding with PV demand for solar panels to grow from 3 GW in 2013 to 49 GW in 2014.  The main issue plaguing the industry is over supply of polysilicon and low prices.  As demand catches up with supply Tier-1 poly silicon producers will see higher utilization and polysilicon prices rise which will signal trigger the next capital cycle for PV equipment which is expected the 2H of 2014 or beginning of 2015.  The article also highlights that some plants in China are considering expansion but need access to funding before they can expand.  Investors should watch polysilicon prices closely as prices above $25/kg or more are needed for sustained (capital) investment.

PV magazine reached out to GT Advanced Technologies (GTAT) for an update on where they see the market going. GTAT expects further polysilicon equipment production orders especially from the Middle East.

According to GT Advanced Technologies (GTAT), a supplier of equipment for all stages of polysilicon production, regions that are responsible for investments in polysilicon production equipment include South Korea, China, especially in the northern and western regions, Malaysia, Germany – because of Wacker, the U.S., the Middle East and Taiwan. However, South Korea and Taiwan could lose some market share for new investment because of rising electricity prices. The U.S. is being affected by tariffs. “The market in the Middle East has been slow to develop, but we do expect further investment in this region,” states Chad Fero, Senior Director of Worldwide Service at GTAT.

GTAT also provided an update on their HicZ for n-type solar cells.

GTAT is continuing to develop its HiCz furnace, ideal for n-type PV cells. It has achieved some important milestones in the development of this technology and is aligning the furnace’s launch with the emergence of the n-type PV cell market, which could see the next capital equipment cycle begin in 2015 or even as early as the second half of 2014.