DAYSTAR TECHNOLOGIES INC FILES (10KSB) (DSTI)
1 March 2007, 06:36am ET, EDGAR Online
1 Mar 2007, 02:08pm ET
Last price:4.77
Up 0.39 or (8.90%)
DSTI detailed pricing and financial information. Metric Value
Bid: 4.75
Ask: 4.77
Day's Low & High: 4.01 - 4.89
Open: 4.26
Previous Close: 4.38
Volume: 913,297
Avg. Volume: 743,623
Market Capitalization: 37.32 M
52-week range: 2.00 to 14.30
1 week change: Up 56.39%
1 month change: Up 72.20%
1 year change: Down 65.25%
P/E: -1.84
TerraFoil
TerraFoil is a metal foil solar cell designed to be an alternative to silicon wafer solar cells currently used in flat plate PV modules (modules made with a glass cover plated and rigid frame). TerraFoil consists of a high performance CIGS solar film deposited on thin stainless steel foil or other metallic substrates, depending on application. DayStar’s thin-film CIGS solar cell can be made structurally (shape, size, weight, etc.) and functionally equivalent to silicon wafer cells. The resulting solar cell has grid patterns and buss bars that closely resemble a similar sized silicon solar cell.
It is expected that TerraFoil cells can be assembled into conventional flat plate PV modules with automated machinery used commonly by module manufacturing companies in the PV supply chain without the need for significant modification to existing machinery. DayStar’s TerraFoil product will offer module manufacturing companies an alternative, lower-cost solar cell that has comparable efficiencies, function, shape, and size as the silicon wafer cells they now use in manufacturing. However, unlike silicon wafers, DayStar’s products made on specialty foil are not breakable and will allow module manufacturers greater processing yields. Product qualification testing on modules made from TerraFoil cells is underway and will continue to be a major activity throughout 2007.
Our initial customer in this product family is Blitzstrom GmbH (“Blitzstrom”), of Germany, a PV system integrator of megawatt-scale PV power plants and a distributor of PV systems and components in Germany and the European Union. On June 9, 2005, we entered into an agreement with Blitzstrom for the purchase of our TerraFoil solar cells. The agreement calls for a variable monthly delivery based on estimated annual production volumes and requirements associated with product qualification escalating in volume through the end of 2008, with price based on a variable pricing mechanism. Under the agreement, Blitzstrom will purchase up to 50% of the TerraFoil solar cells produced by us at threshold solar cell efficiencies. On October 6, 2006 we amended the original agreement to extend the term of sale through the end of 2010 and to include up to 130 MW of available product subject to annual volume caps. The amended contract retained price and delivery schedule determinations, which will be based on a percentage of the fair market value of comparable volumes of commercially available silicon solar cells.
Although we have secured sales contracts for 50% of the Gen-II manufacturing capacity, we do not plan to sell significant volumes from the Gen-II production in 2007. Instead, the Gen-II product and subsequent sales will be used primarily for continued product qualification testing as well as the development of new OEM module customers, referred to as MODCOs.
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