BURNABY, BC, May 6 /CNW/ - Day4 Energy Inc. (TSX: DFE), a leading supplier of high performance, cost-effective solar electric solutions, today announced significant expansion plans for their third party manufacturing facility in Europe. Day4 Energy is expanding production from 50MW (megawatts) annually to 120MW to meet increased demand for the Company's high performance photovoltaic products.
"This decision is a direct result of a significant increase in demand that has allowed us to bring our manufacturing facilities in Poland to full capacity earlier this year. We believe that despite the upcoming changes to subsidy programs in Germany, market demand for PV products will continue to be underpinned by renewed investor appetite in existing as well as emerging markets and increased bank debt availability", said George Rubin, president of Day4 Energy. "In addition to allowing us to meet increased demand we will benefit from reduced costs due to the increase in production volume. This in turn will further assist us in achieving the cost reduction required to continue offering our customers attractive return on investment solutions even after the changes in German feed-in-tariff are finally implemented."
The first phase of expansion, an increase to 75MW capacity, will be completed by mid-May and the expansion to 120MW will be completed by the end of June. The expansion plans include increasing productivity from 5 to 7 days a week as well as the addition of new commercial lines dedicated to the production of the newly introduced 60MC-I module with Guardian Technology. The current production mix at the facility is focused on the company's 48MC-S module. However, Day4 Energy expects that demand for the new 60MC-I module will require 80% of production capacity by the third quarter of this year.
About Day4 Energy:
Day4 Energy Inc. is a Canadian company dedicated to providing high performance photovoltaic (PV) solutions for residential, commercial and utility scale installations. By fundamentally improving on the design and assembly of solar cells and modules, the Company produces unique PV panels of high power density, increased lifetime and uncompromised aesthetic appearance. Day4 Energy partners with international technology leaders to develop and deliver IEC- and UL-certified solar products to customers around the world. Day4 Energy is listed on the Toronto Stock Exchange under the symbol "DFE". For more information, please visit www.day4energy.com.
Forward Looking Statements:
This news release contains forward-looking information. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
SOURCE Day4 Energy Inc.
For further information: For further information: Therese Hayes, Head, Corporate Development, Day4 Energy Inc., (604) 296-0434, firstname.lastname@example.org; Heather Ballachey, Media Contact, Day4 Energy Inc., (604) 296-0445, email@example.com