GT Solar (SOLR) is announcing a $94 million order from Taiwan-based Powertec Energy (OTC:PWRT) for a suite of polysilicon production products for a new production facility that is expected to go online next year. The order represents a bit less than half of a quarter of revenue, so it's a decent sized order for GT Solar.
“We are pleased that Powertec has selected GT Solar as its technology partner for their new polysilicon production facility,” said Tom Gutierrez, GT Solar’s president and CEO. “We have a successful track record of enabling new market entrants to establish highly productive polysilicon manufacturing plants. Our suite of polysilicon equipment and technology delivers industry-leading cost per kilogram polysilicon by increasing throughput and lowering energy consumption.”
Shares of SOLR are essentially flat today, but recently held support around the 200-day moving average. That area (around the $9 level) may prove to be a decent entry point in a green energy manufacturing leader.