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Small-Cap Green Tech Company Signs Multi Million Dollar Deal With Ukrainian Tech Firm
By: AllPennyStocks.com News
June 8, 2010
When companies consider producing alternative energy, some gravitate to the idea of photovoltaics – that is, garnering electricity directly from the Sun. And the advantages are that Mother Earth is spared the unhappy byproducts of fossil fuels. Plus, the energy the Sun provides is pretty much without limit.
In June, as the days dwindled down toward the Solar Equinox, came word that New York-based Solar Thin Films, Inc. (OTCBB:SLTZ) saw one of ts soon-to-be subsidiaries ink a deal with Ukraine-based Misto Services Co. Ltd. The contract with Budapest-based BudaSolar Technologies Co., Ltd. obliges it to provide 18 megawatts per year of Tandem Thin Layer Silicon Solar Module Process Line in the former Soviet republic, at a price of about $30 Million U.S.
SLTZ is on the home stretch of acquiring BudaSolar, a developer of thin film solar module manufacturing technologies, including Building Integrated Photovoltaics (BIPV), related equipment, and critical components of turn-key production lines and associated computer software.
For its part, SLTZ develops, makes and markets a complete line of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic modules through another subsidiary, Budapest-headquartered Kraft Elecktronikai Zrt. SLTZ sells both "turnkey systems" and sub-systems to customers currently located in China, Spain and the United States and has also produced equipment for installations in Germany, Portugal, Taiwan, Greece and Spain.
SLTZ picked up a majority interest in Kraft in June 2006, and it’s through that arm the company conducts most of its manufacturing operations, with the plant in Hungary and head offices in New York. Kraft last summer, made for SLTZ an integrated photovoltaic (BIPV) line for Grupo Unisolar, S.A. of Spain, representing the first such line delivered on a turnkey basis by Kraft and marks the entrance by SLTZ's subsidiary into a new product market.
The company believes that its line of thin-film photovoltaic manufacturing equipment positions it to take advantage of the rapidly growing demand for solar modules and an expected market shift towards "thin-film" PV modules as part of a cost effective, "clean technology" energy solution. SLTZ also provides related professional services designed to make it easy for customers to scale operations and integrate them into large-scale power projects.
Even with the exciting news, the price for SLTZ stock has wallowed in the lower half of a 52-week trading range, that, remarkably, peaked ($1.50) and troughed ($0.25) the same day last summer. Even with fair-to-middling volume of more than 180,000 shares on June 8, the price faded to around the 50-cent mark, enough to arouse some notice while folks examined the potential of this harvester of solar energy.
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