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GT Advanced Technologies Announces New DSS Technology Upgrades to Drive Material Quality, Productivity Improvements

GT Advanced Technologies (NASDAQ: GTAT) today announced two new DSS technology upgrades that allow existing customers to leverage their DSS assets to achieve lower cost production while improving the quality of material produced in their furnaces.

One upgrade targets improving the material quality produced in GT’s DSS furnaces with a MultiPlus™ field upgrade that delivers higher efficiency multicrystalline material. The second upgrade targets productivity improvements by allowing DSS customers to increase the capacity of their current Gen5 DSS™450 and 650 furnaces to Gen6 levels of production thereby lowering overall wafer costs. Additionally, the higher capacity system will also provide a path to Gen6 MonoCast™ production – all in the same furnace. All upgrades will be compatible with the company’s Acuity DSS performance monitoring software, which optimizes DSS productivity with remote monitoring and run-to-run performance analysis.

“In the face of downward pricing pressure, reduced subsidies and continued solar trade tensions, it is increasingly important for PV manufacturers to achieve further cost reductions, said Dan Squiller, President of GT’s PV Business and Worldwide Operations. “Our new DSS upgrades extend the life of customers’ existing technology investments by driving further improvements in multicrystalline material quality and increasing productivity in wafer manufacturing and serve as a bridge as the industry prepares to make the expected transition to next-generation cell production in the coming years.”

In the current climate it is important for DSS customers to leverage their DSS assets while the industry transitions to next generation cell technology. GT is developing its HiCz™ technology to deliver the next generation of material quality and cost reduction as the industry transitions to even higher levels of efficiency from N-type material over the next several years.

About GT Advanced Technologies Inc.

GT Advanced Technologies Inc. is a diversified technology company delivering innovative crystal growth equipment and solutions to the global solar, LED and electronics industries. Our products accelerate the adoption of new advanced materials that improve performance and lower the cost of manufacturing. For additional information about GT Advanced Technologies, please visit www.gtat.com.

Forward-Looking Statement

Certain of the information in this press release relate to the Company’s future expectations, plans and prospects for its business and industry that constitute "forward-looking statements" for the purposes of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: the Company’s ability to achieve the expected results of its DSS technology upgrades to produce higher efficiency multicrystalline material, productivity improvements, increase capacity and lower overall manufacturing costs; the ability to successfully produce a Gen6 ingot in the Gen5 DSS furnace; the timeliness of the PV industry’s transition to N–type cell production; DSS technology upgrades extend the life of customers’ existing technology investments by driving further improvements in multicrystalline material quality and increasing productivity in wafer manufacturing and the Company’s ability to successfully deliver its HiCz™ equipment offering. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside the Company's control, which could cause actual events to differ materially from those expressed or implied by the statements. Other factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include the impact of continued decreased demand and/or excess capacity in the markets for the output of our solar and sapphire equipment, general economic conditions and the tightening credit market having an adverse impact on demand for the Company’s products, the possibility that changes in government incentives may reduce demand for solar products, which would, in turn, reduce demand for our equipment, technological changes could render existing products or technologies obsolete, the Company may be unable to protect its intellectual property rights, competition from other manufacturers may increase, exchange rate fluctuations and conditions in the credit markets and economy may reduce demand for the Company's products and various other risks as outlined in GT Advanced Technologies Inc.'s filings with the Securities and Exchange Commission, including the statements under the heading "Risk Factors" in the company's quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2012. Statements in this press release should be evaluated in light of these important factors. The statements in this press release represent GT Advanced Technologies Inc.'s expectations and beliefs as of the date of this press release. GT Advanced Technologies Inc. anticipates that subsequent events and developments may cause these expectations and beliefs to change. GT Advanced Technologies Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

 
 
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