GT Advanced Technologies announced that it received a new order for its Polysilicon production equipment from its existing customer in Asia today.
According to GT Advanced Technologies, the Polysicon production equipment is used to manufacture Trichlorosilane (TCS) as part of the Hydrochlorination process.
The company said the order from its Asian customer include the sale of multiple, advanced heating systems that increase the conversion of TCS in Hydrochlorination Fluid Bed Reactor by as much as 10% over traditional conversion rates.
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GT Advanced helps strengthen customers’ competitiveness
Dave Keck, vice president and general manager of the solar business of GT Advanced Technologies said, “We are pleased to have the opportunity to provide our customers with upgrades to their existing facilities as we continue to develop the next generation of higher efficiency TCS production equipment.”
According to him, the polysilicon production equipment and technology of the company allows its customers to produce silicon at very reasonable price (one of the lowest in the industry), which strengthens their competitiveness.
Keck said, “Producers must operate their plants at the highest levels of productivity and efficiency to remain profitable.”
Apple took over GT Advanced factory
Earlier this month, it had been reported that Apple took over a factory previously operated by GT Advanced Technologies. The iPhone maker plans to invest $2 billion in the factory to convert it into a data center.
GT Advanced Technologies was forced to file for chapter 11bankruptcy protection after its partnership with Apple to make sapphire glass for the devices of the tech giant collapsed.
Tom Gutierrez, president and chief executive officer of GT Advanced Technologies believed that the best for the company to reorganize; protect itself and provide a path for its future success is through a chapter 11 bankruptcy protection.
GT Advanced pursuing opportunities for sapphire cover glass
Last December, the company announced that it is pursuing ASF furnace opportunities for sapphire cover glass applications across the broader smartphone market after the bankruptcy court approved its settlement agreement with Apple. GT advanced Technologies is also pursuing ongoing opportunities in the LED and Industrial markets.
Advanced GT Technologies said all of the previous exclusivity restrictions have been lifted under its settlement agreement with Apple. The sapphire glass maker also retained control of its intellectual property and ownership of its production, ancillary and inventory assets located in Mesa.
The company was also provided with a rent-free lease of the Mesa facility until the end of 2015, and a subsequent rent-free lease of the portion of the facility for storage until 2019, subject to termination by Apple.
On the other hand, Apple was provided with a mechanism to recovers its $349 million pre-payment to GT Advanced Technologies. The iPhone maker will receive a portion of ASF sales for each furnace that will be sold by the sapphire glass maker.