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Spire Establishes Solar Module Manufacturing in Bedford, Massachusetts

Posted on: Wednesday, 5 October 2005, 09:00 CDT

Spire Corporation (Nasdaq: SPIR) announced today that it will establish photovoltaic module manufacturing in Bedford, Massachusetts to meet the growing demand for customized modules for the Building Integrated Photovoltaics (BIPV) market. The production line will have an annual capacity of approximately five megawatts or enough to power 3,000 homes per year.

The equipment for this production line comes from Spire's Chicago operations where it has been used to successfully manufacture standard modules, customized modules and BIPV. Spire reached a purchase agreement with BP Solar that has owned the line. Modules produced by this production line equipment have been installed at Chicago's Millennium Park, The Field Museum of Natural History, Art Institute of Chicago, DuSable Museum of African American History, and other Chicago landmarks, as well as Denali National Park in Alaska and Kyocera Solar Industries in San Diego. Spire will continue its presence in the Midwest by providing systems engineering, sales and marketing, and customer service from offices in Chicago.

The module manufacturing line will be relocated and upgraded at Spire's Massachusetts headquarters. "Locating this production line with our solar equipment and solar systems engineering in Bedford will permit its additional use as a demonstration facility for prospective equipment buyers and as a training center for customers, as well as a manufacturing line for BIPV modules. Access to the equipment will also be important for testing product improvements in an operational setting. Having the line here will better serve major module manufacturers, clients, contractors, architects and other renewable energy integrators," explained Roger G. Little, CEO of Spire Corporation.

Mr. Little added, "We have experienced a steadily growing demand for BIPV module manufacturing capacity to meet product requirements. Spire's custom solar modules are sought after by architects and builders who want to enhance their design aesthetics while also efficiently generating electricity for their buildings. We are now well positioned to serve these customers."

About Spire Corporation

Spire Corporation is a leader in photovoltaic module manufacturing equipment and custom photovoltaic systems. For more information 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-KSB filed with the Securities and Exchange Commission.

Source: Business Wire

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