Partners in EverQ approve significant capacity expansion - company prepares for IPO

Bitterfeld-Wolfen, Q-Cells AG (QCE; ISIN DE0005558662) and its partners in the Joint Venture EverQ GmbH - Evergreen Solar, Inc. and REC Renewable Energy Corporation ASA - have approved significant expansion plans for EverQ. The company will build a third integrated wafer, cell and module production facility at its company site in Bitterfeld-Wolfen (Germany). The new EverQ facility will increase EverQ’s production capacity from 100 MWp to 180 MWp. The partners will invest nearly EUR 150 million in the new EverQ III facility, which is expected to start production in the first quarter of 2009. The new EverQ facility will use Evergreen Solar’s Quad furnace technology. Link.