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Solar Thin Films, Inc.: Solar Thin Films Announces Completion of Shipments for 6MW Line to Grupo Unisolar, S.A. Company

^{Published on 2009-06-11 08:48:24, Last Modified on 2009-06-11 08:49:34 - Market Wire}
 

DIX HILLS, NY--(Marketwire - June 11, 2009) - Solar Thin Films, Inc. (OTCBB: [ SLTN ]) today announced that its subsidiary Kraft Elektronikai Zrt. of Budapest, Hungary has substantially completed the shipment of equipment for a 6MW amorphous silicon photovoltaic module manufacturing facility located in Bejar, Spain for its customer Grupo Unisolar, S.A., and has commenced installation of the line which is expected to be completed by the end of 2009. Grupo Unisolar, S.A. is a long established manufacturer of solar thermal panels sold throughout Spain. With the current shipment of equipment and commencement of installation, Kraft has now completed 58% of the estimated project total value of 7.799 million Euros (or $10.92 million dollars at current exchange rates).

Peter Lewis, Group Vice President, Thin Films Division, noted, "This is an important step forward for Solar Thin Films as the shipped equipment includes improvements to the system -- a result of the recently signed Cooperation Agreement between Kraft and BudaSolar -- that will be incorporated into future deliveries of our 6MW line as well as our 18MW and 36MW semi- and fully-automated lines."

"It has been reassuring to know that the equipment for the first of two planned amorphous silicon manufacturing lines arrived as scheduled," said Gonzalo Pellejero, General Manager of Grupo Unisolar, based in Madrid and Bejar (Salamanca) Spain. "Now with the installation underway and technical crews on site to assist in the scale up, we anticipate being able to begin marketing our own line of photovoltaic modules along with our existing proprietary solar thermal offering."

About Solar Thin Films, Inc.

Solar Thin Films ([ www.solarthinfilms.com ]) develops, manufactures and markets a complete line of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic ("PV") modules through its subsidiary KRAFT Elecktronikai Zrt., based in Budapest, Hungary. The Company sells both individual and "turnkey systems" to customers currently located in China, Spain and the United States and has produced equipment for installations in the US, Germany, Portugal, Taiwan, Greece and Spain. The Company's 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.

About Grupo Unisolar, S.A.

Grupo Unisolar, S.A. currently manufactures and markets its own line of solar thermal panels, and will soon enter the market with its own line of amorphous silicon modules manufactured using equipment provided by Solar Thin Films. The Company sells both modules and complete systems through dealers and directly into larger scale installations within Spain.

Forward-Looking Safe Harbor Statement

Statements in this news release regarding future financial and operating results, potential applications of the Company's technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements including: limited operating history, need for future capital and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports, including Forms 10-K, 10-Q, 8-K, and other forms filed with the Securities and Exchange Commission ("SEC").

These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties.