Dow Corning Announces Multi-Billion Dollar Solar Power Investments
Dow Corning Corp. announced several billion dollars of investment to provide critical materials to what it describes as the fast-growing solar technology industry.
"Dow Corning and our Hemlock Semiconductor joint ventures hope to create a viable solar industry that produces new, high paying jobs, clean power technologies and a revitalized economy," said Stephanie A. Burns, Dow Corning’s Chairman, President and CEO "We’re committing our resources, know-how and technology because we are confident that solar technology represents a tremendous opportunity for both clean energy and economic growth."
Dow Corning will begin manufacturing high purity monosilane, a key specialty gas used to manufacture thin-film solar cells and liquid crystal displays (LCDs). This investment includes construction of a new monosilane manufacturing facility in Hemlock, Michigan, adjacent to Hemlock Semiconductor Corp.’s polysilicon manufacturing site.
"This significant investment to become a leading supplier of monosilane for thin film solar technology will expand our feedstock offering and will further reinforce our position as a value-added material supplier to the solar industry," said Eric Peeters, Global Executive Director, of Dow Corning Solar Solutions.
The investment also includes up to $3.0 billion at Dow Corning joint ventures Hemlock Semiconductor Corp. and Hemlock Semiconductor LLC. The companies will expand Hemlock Semiconductor Corp.’s existing Michigan manufacturing facility and build a new site in Clarksville, Tennessee to increase manufacturing capacity for polycrystalline silicon (polysilicon) - the cornerstone material used to manufacture most solar cells.
Construction of both the polysilicon expansions and the new monosilane site will begin immediately.
"The opportunity and need for solar energy is so great, there will be a need for many solar technologies to flourish to meet global demand," said Peeters. "Dow Corning intends to offer options across the entire array of solar technologies, allowing our customers to innovate freely."