GT Solar Technologies signs $9.5 million contract in China; Baoding Tianwei Yingli of China adds wafer capacity for solar cells

November 16, 2004--GT Solar Technologies, a division of GT Equipment Technologies, Inc. of Merrimack, NH, announced that it has signed a $9.5 million contract with Baoding Tianwei Yingli New Energy Resources Co., Ltd of Baoding, China for its Directionally Solidified Silicon (DSS) furnaces to increase their capacity to over 50 megawatts (MW) of multicrystal wafers for solar cells. The furnaces will be delivered in 2005.

This contract represents a follow-on order from Baoding to the supply of wafer and cell lines in 2003. It also raises GT Solar Technologies overall backlog of orders from current customers to nearly $32 million.

"There is no question that this order from Baoding along with other recent orders in other parts of the world for solar cell-making equipment is a sign that the solar energy industry has renewed strength worldwide," said Keith Matthei, VP & GM of GT Solar. "There is an increased demand for energy that cannot be served only by oil, gas and nuclear - especially given the current volatility in the supply and price of oil."

"Our continued relationship with GT Solar is important to both companies as we work together to generate more manufacturing capacity for wafers and solar cells in China," said LianSheng Miao, President of Baoding Tianwei Yingli.

GT Solar Technologies specializes in automated manufacturing equipment and is a leading manufacturer of integrated turnkey photovoltaic (PV) manufacturing lines for solar electricity-producing wafers, cells and panels. For more information go to www.gtsolar.com.

Baoding Tianwei Yingli New Energy Resources Co., Ltd., located in Baoding, China, within the Golden Triangle Area formed by Beijing, Tianjin, and Shijiazhuang. Today, Baoding is the largest integrated solar wafer, solar cell and solar module manufacturer in China, employing more than 500 people with broad experience in the PV field. Baoding is expanding rapidly on their leading position and striving for leadership across the entire PV value chain, from wafers, cells and modules to systems and electronic components. For more information visit www.yinglisolar.com.