BELMONT, Calif., Oct. 1, 2014 /PRNewswire/ -- 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.