Business News
Surfect Technologies Provides Business Update for the Third Quarter
Wednesday 03. December 2008 - Surfect Technologies, Inc. (BULLETIN BOARD: SUFH) , a leading provider of advanced interconnect and packaging solutions for solar cell, LED and power management applications, today provided a general business update for the third quarter ended September 30, 2008.
Mr. Steve Anderson, chief executive officer of Surfect, commented, “We continue to work aggressively towards commercialization of our advanced interconnect and packaging solutions for solar cell applications. We recently hired three key executives whom we are confident will enable us to realize our vision of becoming a major equipment and service provider to the solar industry. The new additions to our team include David Pham, Solar Product Manager, Terry Gafron, Project Manager Software, and Richard Tung, Vice President of Operations. We are confident that their management, sales and engineering backgrounds, as well as their technology cost reduction and new product introduction experience will be a major benefit for our planned growth.”
Mr. Anderson continued, “The volatile price of fossil fuels, coupled with the current economic climate and price reductions in polysilicon wafer supplies, have led solar manufacturers to seek more cost-effective equipment and service solutions. In particular, the industry focus on implementing higher efficiency plated metal systems for improved margins will benefit Surfect as panel prices continue to decline. Our ongoing product development and customer testing results due early next year are expected to show increased efficiency over standard silver paste metallization by utilizing advanced copper metallization. Moreover, with a shortage of equipment suppliers across the industry, we are extremely well positioned with our “plug-and-play” plating and integrated packaging solutions, which are computer-driven, simple to operate, and can accommodate multiple chemistries. Our Solargy(TM) electroplating tool and process offers dramatic advantages over conventional technologies. Specifically, Solargy incorporates a modular design, which allows solar manufacturers to purchase capacity on an ‘as- needed’ basis. Our technology also requires lower material cost, lower maintenance and lower personnel costs, and results in higher throughput and uniformity. Ultimately, the true benefit of our technology is higher cell and panel efficiencies. We are working jointly with key companies within the industry to demonstrate our ability to reduce costs and develop the best approach for our customers. Through our expanded marketing initiatives, as well as our strategic partners in the U.S., Europe and Asia, we are making major inroads within the industry based on our strong value proposition – improved margins, lower cost per kilowatt/hour, and higher yields.”
Mr. Anderson concluded, “As we move towards 2009, we look forward to lining up manufacturing partners in Korea, which will enable us to cost effectively meet the growing demand for our technology without the upfront capital requirements for expensive equipment and facilities. Overall, we believe we have built a highly scalable outsourcing and licensing model that will drive significant value for our shareholders. We remain extremely enthusiastic about our market position as the solar industry pursues technologies that will achieve faster grid parity and believe our technology represents a major leap forward in achieving highly efficient solar electricity at prices that will be widely accepted in the marketplace.”