| Type | Public NASDAQ: ESLRD |
|---|---|
| Industry | Renewable Energy |
| Headquarters | Marlborough, Massachusetts; USA |
| Products | Solar Cells |
| Revenue | US$112 Million (FY 2008)[1] |
| Operating income | US$-75.0 Million (FY 2008)[1] |
| Net income | US$-84.9 Million (FY 2008)[1] |
| Total assets | US$1.00 Billion (FY 2008) [2] |
| Total equity | US$520 Million (FY 2008)[2] |
| Website | www.evergreensolar.com |
Evergreen Solar, Inc. is a publicly held U.S. company which specializes in solar energy. It trades on the NASDAQ under the ticker symbol ESLRD.
Evergreen Solar was founded in 1994.[3] It produces proprietary "String Ribbon" solar cells for the photovoltaics industry. The company sells its products using distributors, systems integrators and other value-added resellers, who often add value through system design by incorporating its modules with electronics, structures and wiring systems.
Applications for Evergreen Solar’s products include on grid generation, in which supplemental electricity is provided to an electric utility grid, and off-grid generation for markets where access to conventional electric power is not economical or physically feasible. Its products are sold primarily in Europe and the United States.
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Evergreen operates out of Marlborough, Massachusetts, USA and in 2007 announced plans to expand production from 17MW to 100MW.[4] In 2006 Evergreen, Q-Cells and Renewable Energy Corporation (REC) formed EverQ, a joint venture to open a factory in Thalheim, Germany which is currently expanding to 300MW by 2010. Evergreen's factory in Devens, MA opened in mid-2008. The first phase of the Devens facility is expected to be producing at a rate of 80 megawatts per year by early 2009. A second phase is scheduled to begin ramping in early 2009 and, once the rampup is completed, will also be producing at 80 megawatts per year.[5] CEO Richard Feldt has said the company is eyeing expansion in Asia as well.[6] CEO Michael El-Hillow is closing the factory at Devens, MA at the end of March, 2011, shifting production to China.[7]
On August 15, 2011, the company filed for Chapter 11 reorganization.[8] Under the reorganization, the company plans to sell its assets, including its technology String Ribbon.[8]