DayStar Technologies Signs LOI With Juwi Solar

March 16, 2008 by Jeff Shepard

DayStar Technologies, Inc. announced it has signed a letter of intent (LOI) with juwi solar GmbH.

The LOI identifies juwi solar as a sales partner for DayStar in commercializing its CIGS glass modules. Juwi will work closely with DayStar in the early stages of production to test and evaluate modules in field installations and assist with third party qualifications required for financing large utility power plants. The LOI will conclude when the two companies enter into a definitive sales agreement that would commit juwi to procure up to 25% of DayStar’s production through 2011.

The juwi group is described as one of the leading companies in the renewable energy sector in Europe. For almost 12 years, juwi has developed, financed and operated wind, solar and bio energy projects. Juwi has 260 employees developing projects in 10 countries on 4 continents. By the end of 2007, juwi had developed more than 600 PV power plants with a total capacity of approximately 80 MWp. In 2008 juwi projects installing an additional 120 MWp and is currently constructing a 40 MWp power plant near Brandis, Germany, which when complete the company claims will be the world’s largest grid- tied PV system.

"We are very excited to add juwi solar to our growing family of highly qualified sales partners. The experience they have with thin film modules in particular will be invaluable to our commercialization activities," said Terry Schuyler, Vice President of Sales and Marketing. "We look forward to a long term sales relationship that can assist us in entering into current and emerging markets world-wide."

"Engaging DayStar at this important stage of their commercialization is critical to ensuring our well designed and cost-effective system solutions," said Lars Falck, Managing Director of juwi solar. "We believe DayStar’s CIGS modules can offer us a competitive cost and performance advantage in meeting our aggressive growth plans for the future."