GT Solar signs $8.8 million contract with Nexolon

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GT Solar Incorporated, a key global provider of a comprehensive range of equipment, services and technology solutions to the solar power industry, announced that it has entered into a contract to supply Nexolon Co., Ltd. of South Korea with DSS450 furnaces and accessories worth approximately $8.8 million (US). Deliveries are expected to be made over the next 5 months.

The DSS450 (Directional Solidification System) model furnace is GT Solar's newest and most technically advanced furnace. The furnace enables solar panel producers to "grow" multi-crystalline silicon ingots, which are processed into wafers and converted into solar cells which produce electricity when exposed to sunlight. Multi-crystalline wafers are a core component used in the production of solar panels worldwide. GT Solar's latest technology DSS450 furnace allows producers to increase their silicon ingot output by approximately 30% over previous furnace designs. Ingots produced annually from a DSS450 furnace are capable of providing enough electricity to power up to 1,000 average U.S. homes for one year.

GT Solar began shipments of its DSS line of furnaces in 2003.

"This represents GT Solar's first DSS contract in South Korea, and we look forward to helping our new customer, Nexolon, develop its business and become a key player in the production of multi-crystalline ingots," said GT Solar CEO and President, Tom Zarrella. "This contract is yet another example of GT Solar's key role in providing technology worldwide to meet the demand for solar energy."

Nexolon CEO Woo-Jeong Lee, noted: "We are delighted to have the opportunity to work with GT Solar as we start to build our business to meet solar energy demands in South Korea. We believe GT Solar has the resources and know-how to assist us as we move forward."

About Nexolon Co., Ltd.

Founded in 2007, Nexolon is based in Seoul, Korea and has announced its plans to become a major supplier of monocrystalline and multicrystalline silicon wafers to the solar industry. These silicon wafers are thin sheets of crystalline silicon material principally used to produce solar cells. Nexolon intends to form strategic partnerships with reputable suppliers such as GT Solar and its customers. Nexolon's headquarter facility is located in Seoul, Korea, and its manufacturing plant is currently being constructed in the Iksan Industrial Complex in Iksan City of JeonBuk Province, Korea. For more information, visit www.nexolon.com.

About GT Solar Incorporated