GT Advanced rallies following solar project win

|About: GT Advanced Technologies, Inc. (GTATQ)|By:, SA News Editor

GT Advanced (GTAT +4.8%) will be supplying Qatar Solar Energy with its new HiCz 200 furnaces for a 2.5GW manufacturing project.

GT asserts HiCz furnaces can produce "longer ingots with greater material uniformity and lower resistivity" than traditional batch Cz furnaces, which in turn "lowers the cost of wafering through improvements in yield, enables higher quality material and is expected to provide a path to higher efficiency solar cells."

GT's solar equipment ops, overshadowed lately by its Apple sapphire deal, have had a rough time due to industry oversupply - solar orders only totaled $15M in Q1. But rising end-user demand - Solarbuzz expects the top 20 module suppliers to collectively see 30%+ 2014 shipment growth - could spark a rebound.

This was corrected on 06/12/2014 at 12:53 PM. The post previously stated GT Advanced is supplying 200 furnaces. GT hasn't disclosed the order's size.