GT Advanced Technologies (GTAT) looks like it is slowly but surely moving away from its tough few years, with the announcement of a new multicrystalline ingot production furnace, which will be unveiled at SNEC. The news comes just a couple of months after the company received some vital investment to get itself out of bankruptcy.
The new multicrystalline ingot production furnace, the DSSTM20M, is the sixth generation of GTATs DSSTW family, and will capable of producing more than 20 MW of high efficiency ingots annually. It will be unveiled at SNEC Shanghai later in May, when the technical details of the furnace will be released. However, Dave Keck, chief executive officer of GT Advanced Technologies, has already said that it will enable manufacturers to produce the highest efficiency wafers at the lowest costs.
We are pleased to provide the photovoltaic market with the latest generation of multicrystalline ingot production equipment, said Keck. The DSSTM20M allows producers to drastically improve operational efficiency and productivity by nearly doubling production output versus the current generation furnaces.
It is another move in the right direction for the company, after securing $80 million in financing, in March 2016, that got the company out of Chapter 11 bankruptcy. The investment was described as exit financing, as Keck added that the emergence from Chapter 11 bankruptcy marks the start of a new chapter for our company.