UK markets closed
  • NIKKEI 225

    29,098.24
    -7.77 (-0.03%)
     
  • HANG SENG

    25,628.74
    -409.53 (-1.57%)
     
  • CRUDE OIL

    82.31
    -0.35 (-0.42%)
     
  • GOLD FUTURES

    1,798.10
    -0.70 (-0.04%)
     
  • DOW

    35,490.69
    -266.19 (-0.74%)
     
  • BTC-GBP

    42,712.16
    -1,614.15 (-3.64%)
     
  • CMC Crypto 200

    1,406.02
    -68.31 (-4.63%)
     
  • ^IXIC

    15,235.84
    +0.12 (+0.00%)
     
  • ^FTAS

    4,138.68
    -11.13 (-0.27%)
     

Meyer Burger to develop 400 MW high-performance solar module manufacturing facility in the U.S.

  • Oops!
    Something went wrong.
    Please try again later.
·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Meyer Burger Technology AG / Key word(s): Expansion/Strategic Company Decision

28-Sep-2021 / 17:46 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Meyer Burger Technology AG announced today that the company plans to establish a production site for high-performance solar modules in the United States. This investment is in line with Meyer Burger's commitments to produce modules near end-customers, source material from regional suppliers, and improve overall sustainability by reducing transportation emissions and optimizing the carbon footprint of the company's solar modules. This approach also reduces supply chain delays and provides flexibility and resilience for Meyer Burger's customers.

The company is currently in discussions with several U.S. states to determine the final site location. A decision is expected by year-end 2021. The decision to continue to expand the company's solar energy supply chain to the U.S. is supported by a strong domestic solar market, positive economic policy conditions, and Meyer Burger's desire to support the U.S. clean energy transition. The initial production capacity will be 400 MW - with potential for further growth to multiple gigawatts capacity - and will include capabilities to manufacture solar modules for residential, commercial/industrial rooftop, and utility-scale applications. Production is expected to be operational by the end of 2022, and, at full capacity, the new facility is expected to employ hundreds of skilled manufacturing workers.

"Meyer Burger is thrilled to be expanding our production footprint to the U.S.', said CEO Gunter Erfurt. 'The United States has a rich history in the solar industry. The world's first photovoltaic production facility was established in California in the 1970s - well ahead of Europe and Asia. Now it is time to return to the industry's roots and help end dependency on offshore imports. Our proprietary Heterojunction cell technology and patented SmartWire module technology enable us to produce the highest quality and highest performance products for economically competitive solar energy for our customers."

Meyer Burger is considering a shortlist of several U.S. states for the company's facility. Key criteria for site selection include existing facilities, regulatory, and tax frameworks, state and local economic development programs, available skilled workforce capacity, proximity to transportation infrastructure, renewable power supply, and local community commitment.

Ardes Johnson, President of Meyer Burger Americas, added: 'With this strategic expansion, Meyer Burger will produce the world's premier solar panels right here in the U.S., unlocking access to clean energy consumers crave. We are encouraged by bipartisan support for domestic manufacturing of solar infrastructure to secure true energy independence and control of our future. It is critical for the U.S. to develop its domestic supply chain and de-risk itself from heavy dependence on Asia. We are excited to contribute to this important goal and are ready to tackle the rapidly increasing demand for clean energy.'

Contacts:

Meyer Burger Technology AG

Finsbury Glover Hering

Anne Schneider

Callahan Kilgore

Head Corporate Communications

Associate Director, Strategic Communications

M. +49 174 349 17 90

M. +1 757 645 8261

anne.schneider@meyerburger.com

callahan.kilgore@fgh.com


End of ad hoc announcement

Language:

English

Company:

Meyer Burger Technology AG

Schorenstrasse 39

3645 Gwatt

Switzerland

Phone:

+41 033 221 28 00

E-mail:

mbtinfo@meyerburger.com

Internet:

www.meyerburger.com

ISIN:

CH0108503795

Valor:

A0YJZX

Listed:

SIX Swiss Exchange

EQS News ID:

1236583


 

End of Announcement

EQS Group News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting