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Tuesday, April 28, 2009

Solar Stocks News - Veeco Introduces “FastLine” Glass Coating Platform for Production of CIGS Thin Film Solar Cells

Solar Stocks News - Veeco Introduces “FastLine” Glass Coating Platform for Production of CIGS Thin Film Solar Cells

PLAINVIEW N.Y.-Veeco Instruments Inc. (Nasdaq: VECO), announced the introduction of its FastLine™ platform of Glass Coating Systems, leveraging Veeco’s proven PV-Series™ Thermal Deposition Sources. Veeco’s new FastLine platform is designed for high throughput, low cost of ownership production of CIGS (copper, indium, gallium and selenium) solar cells.

Piero Sferlazzo, Ph.D., Senior Vice President of Veeco’s Solar Equipment business, commented, “Veeco is now the only equipment company offering integrated production-scale solutions for CIGS manufacturing on glass using thermal evaporation sources for the CIGS/absorber layer. Customers can now choose Veeco to provide comprehensive, fully integrated equipment to manufacture CIGS solar cells, whether they choose to use our FastLine systems for glass or our FastFlex™ systems for flexible substrates.”

Thermal evaporation, as compared to other deposition methods, produces the highest efficiency thin film solar cells and has the lowest materials costs with high material utilization driving down the manufacturing cost per watt. Veeco’s FastLine systems can handle up to thirty 1.1m x 1.4m glass panels/hour. The modular architecture of the system allows customers to scale their output according to their needs.

The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) has claimed a world record for CIGS thin-film solar cell conversion efficiency of 19.9 percent. The conversion efficiency for CIGS is now close to that of multi-crystalline silicon-based solar cells, according to NREL. This achievement was hailed as an important milestone because the efficiency of thin film solar cells is now achieving its goal of matching silicon in performance.

About Veeco

Veeco Instruments Inc. manufactures enabling solutions for customers in the HB-LED, solar, data storage, semiconductor, scientific research and industrial markets. We have leading technology positions in our three businesses: LED & Solar Process Equipment, Data Storage Process Equipment, and Metrology Instruments. Veeco’s manufacturing and engineering facilities are located in New York, New Jersey, California, Colorado, Arizona, Massachusetts and Minnesota. Global sales and service offices are located throughout the U.S., Europe, Japan and APAC.

To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2008 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.

Contacts Veeco Instruments Inc.InvestorsDeb Wasser, 1-516-677-0200 x 1472SVP Investor RelationsorTrade MediaFran Brennen, 1-516-677-0200 x 1222Senior Director of Marcom

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