Spire Semiconductor awarded over $2 million from DOE’s Tax Credit program

Spire Corp., a global solar company providing capital equipment andturnkey production lines to manufacture photovoltaic (PV) cells andmodules, announced its wholly owned subsidiary, Spire Semiconductor,LLC, has received confirmation from the Department of Energy (DOE) thatunder the Advanced Energy Manufacturing Tax Credit (MTC) program, itsapplication has been approved for the allocation of over $2 million toexpand its III/V Compound Semiconductor Foundry facility in Hudson, NewHampshire.

Roger G. Little, Chairman and CEO of SpireCorporation, said: “Spire Semiconductor being awarded over $2 millionin tax credits for its path of commercialization of our concentratorphotovoltaic (CPV) technology could not have come at a better time. Wehave just announced the approval of Phase II of our National RenewableEnergy Laboratory (NREL) subcontract for developing technology tocost-effectively manufacture 42% efficient, 500 sun, multi-junctionconcentrator solar cells for systems.”

He concluded: “With thePV industry continuously growing, the availability of this tax creditwill allow us to grow along with it. This opportunity will allow us toestablish a state-of-the-art commercial manufacturing line to produceour proprietary triple junction high efficiency cells and support ourgrowing CPV customers.”