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Spire to Provide Alpex Exports of India With Turnkey Solar Module Manufacturing Line

Posted on: Wednesday, 16 April 2008, 09:01 CDT

Spire Corporation (Nasdaq: SPIR), a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic modules worldwide, today announced that it has received a contract from Alpex Exports Pvt. Ltd. to provide a photovoltaic module assembly line for that company's operations in New Delhi, India.

Alpex is an international trading company. This will be the company's first solar energy facility and will support its growth into both the standard module, and Building Integrated Photovoltaic (BIPV) markets. BIPV systems typically substitute traditional architectural building materials and exterior facades with energy-producing solar panels.

Spire will provide Alpex with a semi-automated crystalline cell module manufacturing line capable of producing up to 15 megawatts (MW) of solar modules per year. Spire will supply the process technology and training to operate the factory, as well as assistance in qualifying the factory and its modules to international standards and certification. The line is designed to be easily expandable at a later date and will integrate Spire's key assembly, lamination, and testing machines, along with intermediate tooling stations.

"One of the unique differentiators of Spire in the marketplace is our ability to deliver a complete solar factory, along with all of the training needed to succeed in the solar business, to companies with limited exposure to solar module manufacturing," said Roger G. Little, Chairman and CEO of Spire Corporation. "This is a tremendous advantage to firms looking to broaden their business portfolio into the fast growing solar field while limiting their risks and minimizing their costs."

Mr. R. P. S. Sarna, Vice President of Alpex Exports said, "An important reason we selected Spire was their turnkey approach to deliver a factory along with the requisite training and certification. The solar market is expected to more than triple in size by 2010. With our new module facility, we will be able to effectively compete in both the domestic and export markets."

About Alpex Exports Pvt. Ltd.

Alpex is an international trading company with a focus on textiles and a diversified product portfolio. It has headquarters in New Delhi and branch offices throughout India, South Korea, and Australia. Alpex recently diversified into renewable energy with several wind turbine installations in Tamil Nadu, India. For more information, contact www.alpex.com.

About Spire Corporation

Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture photovoltaic modules worldwide. Spire Semiconductor provides processing technology for Spire's silicon solar cell manufacturing lines and produces and sells custom gallium arsenide cells for solar concentrator systems.

For corporate or product information, contact Spire Corporation, "The Turnkey Solar Factory Company," at 781-275-6000, or visit www.spirecorp.com.

Certain matters described in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

Source: Business Wire

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