Singulus Technologies looks to be back with a bang after disappointing first quarter results, as it announces the signing of two precontracts, which represent the largest contract in the companys history. It is a significant deal for CIGS solar technology in general, which seems to be experiencing a mini-resurgence after a lull in orders for thin film production equipment suppliers.
A subsidiary of Chinese state-owned enterprise China National Building Materials (CNBM) has signed the precontract, which is worth in excess of 110 million (US$123 million), for the CISARIS, VISTARIS and SELENIUS machines. The machines will be delivered to two separate production sites for high-performance CIGS solar modules, and will initially provide an output volume of about 150 MW at the respective sites, while the planned final output capacity of each site should eventually reach 300 MW.
The precontracts that have been signed by both parties outline the technological and economic framework for the deal, which is expected to be finalized over the next couple of days during SNEC in Shanghai, the worlds largest solar tradeshow.
We have extensively discussed the preliminary work for the optimization of the production processes with the customer and once again implemented numerous improvements, said Dr. Ing. Stefan Rinck, CEO of Singulus Technologies. Our construction work was finalized and we will shortly begin assembling the machines.
The deal must come as music to the ears of the German company, after posting disappointing Q1 results earlier in the month. However, with the somewhat poor results, the company did offer some optimism, claiming that it was confident that significant orders for it CIGS thin-film production tools would be concluded soon.
This deal with the subsidiary of CNBM looks like it is one such order, and reaffirms Singuluss position in the CIGS market, which has been twitching back into life recently.
This contract for the delivery of the key technologies, which are used in the manufacturing of CIGS solar modules, is of essential importance for us and confirms our leading position in this market segment