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Spire to Provide Turnkey Solar Module Manufacturing Line in India

Posted on: Wednesday, 17 September 2008, 09:00 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 GreenBrilliance to provide a turnkey photovoltaic module assembly line for that company's operation in India.

GreenBrilliance, headquartered in Virginia, USA, is a vertically integrated, end-to-end solar energy services provider. Through its subsidiaries, GreenBrilliance LLC and GreenBrilliance Energy Private Ltd., the company provides clean, renewable solar energy at affordable pricing.

Spire will provide GreenBrilliance with a semi-automated crystalline silicon module manufacturing line capable of producing up to 12 megawatts of solar modules per year. Spire will supply the process technology and training to operate the factory, as well as offer 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.

"We are excited to be awarded this turnkey line by GreenBrilliance. The photovoltaics market is both growing and moving rapidly in India and is expected to rise even faster than the world market in the coming years. To keep pace, companies need to enter quickly and efficiently. Spire adds great value with its ability to deliver a complete solar factory, along with all of the essential training to succeed in the solar business," said Roger G. Little, Chairman and CEO of Spire Corporation. "Spire is focusing and enhancing its efforts in India and is well positioned to cover the expanding needs of its growing customer base there."

Mr. Sanjay Chandra, President and Co-founder of GreenBrilliance, said, "We know how important a rapid entry to the market will be and Spire has the expertise and ability to get us up and running. Their equipment, staff, and knowledge are absolutely the best in the industry and their focus and dedication on the Indian market is clear."

About GreenBrilliance

GreenBrilliance, a global solar energy company, manufactures top quality solar modules for commercial and solar farm applications. The company provides turnkey solar solutions from system design and installation to long-term service and maintenance. For more information, visit www.greenbrilliance.com.

About Spire Corporation

Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture photovoltaic cells and modules worldwide. Spire Semiconductor develops and manufactures custom gallium arsenide solar cells and other related products. 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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