The German solar energy company CSG Solar won the World Technology Award 2006 for Innovations in Energy.
REC established CSG Solar back in 2004 together with Q-Cells and the former management of Pacific Solar and REC currently holds 23% of the company. REC has, through CSG Solar, invested in micro crystalline thin-film technology based on silane gas being deposited directly on a glass substrate (from gas to finished module).
"We believe that this is a very promising thin-film initiative since it does not rely on scarce or dangerous materials and has a stable crystal structure giving constant solar efficiency over time", says Erik Sauar, SVP & CTO of REC ASA.
CSG Solar shared the winner's podium with Google (in IT und Software Development), Al Gore (in Technology Policy) YouTube (in Entertainment Technology), and IBM (in Materials Technology).
"We are delighted that our efforts to develop the next generation of solar technology have been recognized by leaders in the field of energy technology and to receive the 2006 World Technology Award", David Hogg, CEO of CSG Solar said after the award was announced.
The development of CSG's technology started in 1995 in Sydney, Australia with the objective of bringing a new product to the market and changing the shape of the solar industry. Today, looking back on innumerable experiments, inspired solutions and incremental improvements, CSG has taken the stride from R&D to mass production in a state-of-the-art production facility for CSG solar modules located in Thalheim, Germany.
The 2006 World Technology Awards ceremony was undertaken in San Francisco, USA, and the award is presented each year to the outstanding innovators from each sector within the technology arena as a way to honour those individuals and companies.
REC is uniquely positioned in the solar energy industry as the only company with a presence across the entire value chain. REC Silicon and REC Wafer are the world's largest producers of solar grade silicon and wafers for solar applications. REC Solar produces solar cells and solar modules. REC Group had revenues in 2005 of 2.454 MNOK and an operating profit of 601 MNOK. Please also see www.recgroup.com
For further information please contact:
Erik Thorsen, President & CEO; +47 907 56 685
Erik Sauar, SVP & CTO; +47 67 81 52 53
Jon Andre Løkke, SVP & Investor Relations Officer; +47 67 81 52 65