This Solar Company is Generating Heat Now
GT Solar International (NASDAQ:SOLR) shares jumped over 11% in trading this morning after the company announced it had won a $460 million dollar order, the largest ever for a company in the solar industry. The order was placed for “advanced sapphire crystallization furnaces” (obviously), and will be included via backlogging in the company’s Q1 financial report, due out in early July.
The ordered for these parts was placed in relation to production of Light-Emitting-Diode (LED) applied materials by a “diversified” manufacturing firm in China. The mass purchase places GT Solar at the masthead of the burgeoning LED products industry, and the contract should serve as a landmark of the firm’s (and industry) progress in recent years.
From SeekingAlpha: “According to Strategies Unlimited, an industry analyst firm that tracks the LED industry, revenue for high brightness LED applications will be approximately $19 billion by 2015, with general lighting applications accounting for about 25 percent of this total.”
GT Solar International CEO Tom Gutierrez added, “The market acceptance of our sapphire growth technology has been remarkable and it speaks to the confidence our customers have shown in our ability to help them build successful businesses that leverage our crystalline growth expertise and our global equipment installation and support resources.”
Wall Street is buying it, literally.
These solar companies are all trading down despite GT Solar’s good news: Suntech Power Holdings Co., Ltd. (NYSE:STP), SunPower Corporation (NASDAQ:SPWRA), FirstSolar (NASDAQ:FSLR), Trina Solar Limited (NYSE:TSL), General Electric Company (NYSE:GE), Yingli Green Energy Hold. Co. Ltd. (NYSE:YGE), MEMC Electronic Materials, Inc. (NYSE:WFR), Evergreen Solar, Inc. (NASDAQ:ESLR), Energy Conversion Devices, Inc. (NASDAQ:ENER), DayStar Technologies Inc. (NASDAQ:DSTI), and Ascent Solar Tech., Inc. (NASDAQ:ASTI)