-20 September 2005 -

United Solar Ovonic JV in China

United Solar Ovonic, a wholly owned subsidiary of Energy Conversion Devices Inchas entered into a Memorandum of Understanding with Tianjin Jinneng Investment Company (TJIC) to form a joint venture to establish a 25MW thin-film triple-junction amorphous silicon photovoltaic module manufacturing operation in Tianjin, the People's Republic of China.

ECD Ovonics' Production Technology and Machine Building division will build the manufacturing equipment for the joint venture. ECD Ovonics designed and built United Solar Ovonic's existing 25MW photovoltaic manufacturing equipment and is building its second facility, to double its US manufacturing capacity.

"As part of our strategy to make our photovoltaic products more widely available throughout the world, we have been exploring opportunities in China," said James R. Metzger, executive VP and COO of ECD Ovonics.

"Tianjin Jinneng Investment Company has an admirable track record of successful joint ventures in China and we are looking forward to working with them. The City of Tianjin, the third largest city in China, is the ideal site for our thin-film photovoltaic manufacturing plant," said Subhendu Guha, president and COO of United Solar Ovonic.

In addition to its existing 25MW photovoltaic manufacturing plant, United Solar Ovonic broke ground in July 2005 for its second state-of-the-art solar module manufacturing plant in Auburn Hills, Mich., to double its solar cell/module manufacturing capacity. Occupancy is scheduled for May 2006, and it is anticipated that the plant will begin manufacturing products in the fall of 2006 following ramp up of the manufacturing equipment.

Compared to conventional solar technology using single crystal or polycrystal silicon, United Solar Ovonic's thin-film solar cells are 100 times thinner, do not use crystalline silicon material and, therefore, are unaffected by the scarcity of silicon worldwide. The Unlike conventional glass-based PV products, TF cells are lightweight, flexible and rugged and can be aesthetically integrated into buildings.

Schott AG acquires RWE Schott Solar GmbH

From October, Schott AG (Mainz, Germany) will acquire the 50% share that RWE Solutions AG holds in RWE Schott Solar GmbH. The move means that Schott will become the sole shareholder in the joint venture, first formed in 2002.

The company will conduct business under its new name, Schott Solar GmbH (Schott Solar Inc in America), and its main office will remain in Alzenau. Completion of the transaction is subject to approval by German antitrust authorities.

RWE Schott Solar GmbH employs more than 900 employees in various regions of the world, and ranks a leading manufacturers of PV solar electricity components. The company covers basically all areas of the value creation chain, including wafers, cells and modules. Sales for the current fiscal year, which ends on September 30, will reach approximately E280m.

"By completing the acquisition of RWE Schott Solar Inc, we will be able to intensify our company's activities in the field of solar energy. We strongly believe in this promising field. Solar technologies offer vast potential for sustainable energy supply," said Dr. Udo Ungeheuer, chairman of the board at Schott AG, in reference to the acquisition.

Michael Stadler, chairman of the board at RWE Solutions AG: "Schott and RWE Solutions have been successful in advancing PV solar electricity technology over the past few years. Now that large scale industrial production has commenced, this represents the perfect point in time for us to transfer our shares to Schott AG. RWE does not view itself to be a manufacturer of power plants, but rather is focusing its business on energy generation and supply."

RWE Schott Solar GmbH has production plants in Germany, the Czech Republic and the US. This year, the company expanded its capacity for manufacturing solar cells to more than 100MW per year.

The acquisition of the shares held by RWE means that the company can now be completely integrated into the Schott Group. Schott employs approximately 17,000 employees and recently reported annual sales of E2bn.

In addition to PV solar electricity components, the Schott Group manufactures receivers and solar thermal tube collectors. Receivers represent key components of solar thermal parabolic trough power plants, a futuristic technology that enables a centralised power supply to be generated inside the Earth's sunbelt.
Efficient evacuated tube collectors deliver solar heat to provide people with warm water, support for heating devices and air conditioning.

Schott Solar Inc. will operate a manufacturing facility in Billerica, MA and a sales office in Rocklin, CA in addition to Schott Solar GmbH's existing international facilities.