SCI Engineered Materials, Inc. (SCIA.OB) Awarded Grant to Commercialize Products for Solar Industry

on December 22 2009 5:15 AM

SCI Engineered Materials, Inc. announced today that it has been awarded $775,400 by the Ohio Department of Development’s Ohio Third Frontier Photovoltaic Program (OTFPVP). The grant was awarded for the commercialization of advanced technology for high power density rotatable ceramic sputtering targets. These targets are used to manufacture thin film photovoltaic solar cells. The award is still subject to State of Ohio Controlling Board approval.

Scott Campbell, Ph.D., Vice President of Technology, stated, “We are pleased to have been selected by Ohio’s Third Frontier Photovoltaic Program to help commercialize the high power density ceramic sputtering target attachment technology that SCI has proposed for thin film photovoltaic solar cell manufacturing applications. This technology will enable manufacturers to operate rotatable sputtering targets at higher power densities than current technology. Specific benefits include increased process throughput leading to lower photovoltaic solar cell modular costs in the future.”

Dan Rooney, Chairman, President and Chief Executive Officer, commented, “During the past three years we have substantially increased our penetration in the Solar market through the development and introduction of new products, expanded international sales and marketing activities, and increased participation in government programs to develop greater manufacturing efficiencies for solar manufacturers. The OTFPVP award, the third one received from the State of Ohio, is another sign of the progress we are achieving in solar and also reflects the value they recognize in our innovative technologies. These initiatives help to accelerate our growth in this strategic market.”

Additionally, Mr. Rooney added, “Earlier this month we received a follow-on order of approximately $1 million from a solar customer. These products are expected to be manufactured and shipped during the first half of 2010. The Company previously reported its order backlog at September 30, 2009 was $3.7 million. The OTFPVP award plus the follow-on order significantly increase SCI’s backlog, which will benefit the Company’s financial results during the first half of 2010.”