Spire Semiconductor Awarded Contract to Develop High Efficiency Solar Cells for Space

Date Announced: 03 Jun 2010

BEDFORD, Mass., Jun 03, 2010 (BUSINESS WIRE) --Spire Corporation (Nasdaq: SPIR), an American global solar company providing capital equipment and turnkey production lines to manufacture photovoltaic (PV) cells and modules, announced today that its wholly owned subsidiary, Spire Semiconductor, LLC has been awarded a contract from the Missile Defense Agency (MDA) to develop high efficiency, multi-junction solar cells for space applications.

Gagnon, General Manager of Spire Semiconductor, LLC, stated, "This award is timely since it supports our ongoing terrestrial solar cell business. Currently, we are developing a 42% efficient, 500 sun concentrator cell under a U.S. Department of Energy's National Renewable Energy Laboratory contract. The MDA contract will help to further establish our capabilities and expertise in concentrator photovoltaic (CPV) cell technology for both space and terrestrial solar cell applications."

Roger G. Little, Chairman and CEO of Spire Corporation, added, "The market opportunities for concentrator solar cells are significant. This contract supports commercial initiatives at Spire Semiconductor and provides validation of Spire's approach to increasing the efficiency where lowering the cost of concentrator solar cells. We have already generated significant customer interest, and we plan to work closely with the MDA and customers to develop devices that optimally address strategic interests and market needs."

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