Spire Corporation (Nasdaq: SPIR), a global solar company providing capital equipment and turnkey production lines to manufacture photovoltaic (PV) cells and modules, announced its wholly owned subsidiary, Spire Semiconductor, LLC, has received confirmation from the Department of Energy (DOE) that under the Advanced Energy Manufacturing Tax Credit (MTC) program, its application has been approved for the allocation of over $2 million to expand its III/V Compound Semiconductor Foundry facility in Hudson, New Hampshire.
Roger G. Little, Chairman and CEO of Spire Corporation, said, “Spire Semiconductor being awarded over $2 million in tax credits for its path of commercialization of our concentrator photovoltaic (CPV) technology could not have come at a better time. We have just announced the approval of Phase II of our National Renewable Energy Laboratory (NREL) subcontract for developing technology to cost-effectively manufacture 42% efficient, 500 sun, multi-junction concentrator solar cells for systems.”
Mr. Little concluded, “With the PV industry continuously growing, the availability of this tax credit will allow us to grow along with it. This opportunity will allow us to establish a state-of-the-art commercial manufacturing line to produce our proprietary triple junction high efficiency cells and support our growing CPV customers.”