Veeco Becomes Charter Member of CPV Consortium
September 15, 2008
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Sept. 15, 2008--Veeco Instruments Inc. (Nasdaq: VECO), announced today that it has become a charter member in the CPV Consortium, a global industry organization that supports the development and long-term success of the concentrator photovoltaics industry, with the goal of providing a low-cost, reliable source of renewable energy. Concentrator photovoltaic (CPV) cells, referred to as "multi-junction" or "III-V" cells, boast significantly higher efficiencies than traditional photovoltaic systems. In addition to Veeco, CPV Consortium charter members include Solfocus, 3M, Concentrix, Emcore, ISFOC and Isofoton.
Sudhakar Raman, Vice President, Marketing of Veeco's MOCVD Operations, commented, "As the world's leading manufacturer of metal organic chemical vapor deposition (MOCVD) systems used to make CPV cells, we are pleased to be a charter member of the CPV Consortium. We look forward to continued development of CPV cell manufacturing equipment and process improvements to further reduce the cost and ease of manufacturing, while improving the efficiency and reliability of CPV cells."
"CPV cells provide energy conversion efficiencies much higher than traditional silicon cells - approximately 35% today, with planned efficiencies over the next few years moving into the 45% range, as compared to 13-18% efficiency for silicon cells," Raman added. "Veeco is aligned today with all of the leading CPV manufacturers to help pursue these future efficiency gains."
Veeco's TurboDisc(R) As/P MOCVD tools have become the CPV industry's platform of choice by offering a level of process control and reliability unmatched by competing MOCVD technologies, and are being adopted by the industry for highest yields and lowest cost of ownership for high volume production of multi-junction III-V concentrator solar cells. These technically advanced MOCVD systems feature Veeco's proprietary in-situ metrology, RealTemp(R) 200, enabling superior material quality and process efficiency from direct real-time wafer temperature control, fast gas switching for strict control of interface abruptness, and vacuum loadlock automation for highest productivity.
About the CPV Consortium
The CPV Consortium is a global industry group with the charter of supporting the development and optimizing the long-term success of CPV as a mainstream source of energy. Activities of the group are focused on assuring CPV systems and installations are safe; creating confidence in performance claims; reducing confusion in the market about the technology; and assuring development of an infrastructure for rapid growth. More information can be found at www.cpvconsortium.org.
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, Minnesota and Massachusetts. Global sales and service offices are located throughout the U.S., Europe, Japan and APAC. http://www.veeco.com/
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, 2007 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.
CONTACT: Trade Media: Fran Brennen, 1-516-677-0200 x1222 Senior Director of Marcom SOURCE: Veeco Instruments Inc.