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solar thin films inc (SLTZ) Key Developments

Solar Thin Films, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Solar Thin Films, Inc. announced earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported revenues of $950,000, which are the first revenues, recorded by the company since the acquisition of Quality Resource Technologies Inc. on April 30, 2013. Profit during the quarter was $549,992, which equates to earnings of $0.01 per share. For the nine months, the company reported revenues and income of $950,000 and $286,147, respectively.

Solar Thin Films, Inc. Signs Contract for the Design, Supply and Construction of Three Photo-Voltaic Solar Fields in West Virginia, Effective September 13, 2013

Solar Thin Films, Inc. announced that it has signed a contract, effective September 13, 2013, for the design, supply and construction of three photo-voltaic solar fields in West Virginia. As previously announced, the agreement is with property owner Tri-State Solar/Wind Energy LLC. There are a total of three properties to be developed, as: Sam Black Church Rd. Crawley, WV (Site # 1) - Wolf Creek Rd. Fayetteville. WV (Site # 2)- Muddy Creek Rd. Alderson. WV (Site # 3). Sites #1 and #2 are to have 8-10 MW in solar electrical production capacity, while site #3 is to have capacity for 15-20 MW. The anticipated value of the contract is $124 million to $160 million.

Solar Thin Films, Inc. Announces Signing of Contract to Build Solar Fields

Solar Thin Films, Inc. announced that it has signed a contract, effective September 13, 2013, for the design, supply and construction of three photo-voltaic (PV) solar fields in West Virginia. The underlying agreement had been announced earlier in a press release dated July 31, 2013, as an agreement in principle. As previously announced, the agreement is with property owner Tri-State Solar/Wind Energy LLC ("Tri-State"). There are a total of three properties to be developed, as follows: Sam Black Church Rd. Crawley, WV (Site # 1);Wolf Creek Rd. Fayetteville. WV (Site # 2); Muddy Creek Rd. Alderson. WV (Site # 3). Sites #1 and #2 are to have 8-10 MW in solar electrical production capacity, while site #3 is to have capacity for 15-20 MW. The anticipated value of the contract is $124-$160 million.

Solar Thin Films Announces Agreement to Supply and Construct Three PV Fields

Solar Thin Films, Inc. announced an agreement in principle to design, supply and construct three photo-voltaic, or PV, solar fields. The agreement with property owner Tri-State Wind Energy LLC provides for three solar fields initially capable of producing 35 MW of electricity annually, consisting of one 15 MW field in Fayette County, WV, one 10 MW field in Sand Black Church, WV, and one 10 MW field in Nicholas County, WV. Ground clearing on the first solar field is expected to occur in September. Upon finalization of the contract, the company is expected to receive payments totaling $140,000,000 over the life of the three projects. The first project, worth approximately $40,000,000 for a 10 MW solar field, is expected to be completed.

Solar Thin Films, Inc. Announces an Agreement-in-Principle to Design, Supply and Construct Modular School and Clinic in Uganda, Africa

Solar Thin Films, Inc. announced an agreement-in-principle to design, supply and construct a modular school and clinic in Uganda, Africa. The project calls for the design, supply and construction of a 36,000 square foot school and an 8,000 square foot clinic, along with well-water supply and area lighting. The company's portion of the $15 million project is approximately $10 million. The company's design and prototype drawings have been accepted in principle, subject to finalization of the design and budget. It is expected that final agreements will be signed later this month. The design calls for a modular structure using the company's GREEN technology products, including the Vulcan FRP panel. The Vulcan panels will be manufactured in the USA by the Company and shipped to Uganda for installation. The school and clinic's power will be supplied by the Company's photo-voltaic (PV) solar panels and battery storage. Indoor lighting will utilize the Company's LED lighting products. Outdoor lighting for the grounds and well-water supply will also utilize solar energy. Excess power output will be purchased by the municipal power authority. The company expects to begin manufacturing the modular Vulcan panels and PV solar panels in the fourth quarter of 2013, with delivery to Uganda completed in the second quarter of 2014. Installation should be completed by the end of 2014.

 

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