DayStar Outlines 2006 Manufacturing Strategy and Milestones
DayStar Technologies, Inc. (NASDAQ:DSTI) announced plans to accelerate its manufacturing capacity along with the 2006 Milestones required to support the mission. Dr. John Tuttle, Chairman and CEO, stated that, due to the global demand for non-fossil fuel energy solutions, and the continued shortage of Silicon solar cells, a "window of opportunity" had opened and driven the company to accelerate the deployment of its manufacturing capabilities.
Tuttle pointed out that DayStar's mission is consistent with President Bush's "Solar America Initiative," which also calls for an acceleration of US solar cell manufacturing capacity to achieve five to ten GW of generating capacity by 2015 (enough to power one to two million households). The company believes that such expansion can only be accomplished with a scaleable thin-film technology, that CIGS is the optimum thin-film solution, and that DayStar's unique approach and capabilities are in the best position within the PV industry to accomplish the goal.
The company believes it is on target to complete its current process development initiatives and transition from pilot-scale to commercial-scale production on its Gen II manufacturing line by the end of the second quarter of this year. The production line has served as a useful learning tool, and has offered proof of product and production viability of discrete "Photovoltaic Foils."
Tuttle stated, "Upon reaching commercial-scale production, we will have completed the objective of our Gen II program. Accordingly, we are now concentrating the majority of our production program efforts and associated funding on bringing our higher volume and lower cost Gen III line up earlier than previously planned." He added, "We project that this production line will be installed in our expanded manufacturing facility in New York in early 2007 and we will have a target capacity of 10 MW per year." He noted that, once the efficacy of its Gen III product and production was proven, they would be in position to replicate this platform and expand its total production capacity.
The company's Milestones were listed as: the demonstration of commercial-scale manufacturing of Terrafoil product with its current Gen II line; the securing of necessary funding for its Gen III expansion program and ongoing company operations; the demonstration of the Gen III manufacturing process and the building out of its first Gen III production line; augmenting future product sales by engaging at least one new strategic partner in conjunction with securing an expanded New York facility for its first Gen III factory and company headquarters.
Tuttle concluded, "Executing on our Gen III program enables us to reach the summit of our goal of "making free energy affordable."