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Category: Investment, Solar
Evergreen Solar (NasdaqGM: ESLR) Announces Opening of New European Headquarters in Berlin
Key location will expand company's presence in German market
MARLBORO, Mass. and BERLIN - October 26 2009 - Evergreen Solar, Inc. (NasdaqGM: ESLR), a manufacturer of String Ribbon™ solar power products with its proprietary, low-cost silicon wafer technology, today announced that it has opened a new European headquarters in Berlin, Germany, further increasing the company's presence in the German market.
Evergreen Solar began its European operations in 2002 and became a fully-registered German company in 2004. Since that time European sales have grown nearly 20 times, equivalent to a 180% compound annual growth rate. The new Berlin headquarters will help the company keep pace with the rapid business growth in the European market, particularly in Germany, a country featuring notable incentives for commercial and residential solar installations.
The new headquarters is located at Wallstraße 65, 10179 Berlin.
"Berlin is an ideal location for us to establish our European headquarters," said Peter Rusch, Managing Director of Evergreen Solar GmbH and Vice President of Sales for Evergreen Solar, Inc. "Our excellent products and strong relationships with customers have allowed us to establish ourselves very quickly as a leader across the European market."
Evergreen Solar produces high output solar panels that are the most environmentally friendly of any silicon-based panel. They have the smallest carbon footprint with the quickest energy payback of any silicon based panels in the industry.
"Evergreen Solar's panels produce more electricity and less impact on the environment than any other silicon based panel," Rusch said. "If you want to judge the performance of a panel the delivery of kilowatt hours per kilowatts installed is the best measure. From an ecological impact of a solar panel, the carbon footprint and energy payback are the most important factors. That's what stands behind our slogan: More electricity, less impact."
The European headquarters is in addition to the company's worldwide headquarters in Marlboro, Mass., USA. The company also has a sales office for the Asia Pacific Region in California, as well as manufacturing plants in Devens, Mass., Midland, Michigan and one currently under construction in Wuhan, China.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets String Ribbon™ solar power products using its proprietary, low-cost silicon wafer technology. The Company's patented wafer manufacturing technology uses significantly less polysilicon than conventional processes. Evergreen Solar's products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the Company, please visit www.evergreensolar.com. Evergreen Solar® and String Ribbon™ are trademarks of Evergreen Solar, Inc.
Contacts:
Evergreen Solar, Inc.
Chris Lawson, 508-357-2221 X7214
Director Marketing Communications
clawson@evergreensolar.com
or
Media:
Elevate Communications
Jim Connelly, 617-861-3654
Account Supervisor
jconnelly@elevatecom.com
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