Solel and Glaston Open $9M Solar Reflector Manufacturing Facility

Date: 12 September 2008
Source: Glaston Corporation
Solel and Glaston Open $9M Solar Reflector Manufacturing Facility Bet Shemesh, Israel & Akaa, Finland (September 10, 2008): Solel Solar Systems announced today the opening of a $9 million factory in Finland in partnership with Glaston, a world leader in glass processing technologies, for the production of parabolic solar reflectors for Solel's solar field projects.

At the core of the facility is unique equipment conceptualized by Solel, designed and built by Glaston according to Solel's specific technical requirements and know-how. The factory will give Solel better control over capacity, quality and price of its patented solar energy technology. Operations will begin this month.

"We are very excited about this partnership, uniting the solar know-how and leadership of Solel with the automation processing expertise of Glaston," said Avi Brenmiller, CEO and President of Solel Solar Systems. "By producing our next generation of parabolic solar reflectors, this new factory will help us advance our SunField LP solar fields, in Spain and around the world, and provide our customers with guaranteed performance." "Demand for solar energy through concentrating solar power solutions is growing rapidly, giving new opportunities for our technology. Our partnership with Solel is an important step to focus on this market," said Mika Seitovirta, CEO & President of Glaston. "We have tailored our solutions to meet Solel's technical requirements, and the result is both cost-effective manufacturing and highest-quality reflectors."

The facility is located in Akaa, about 200 kilometers north of Helsinki. It has the capacity to produce 240,000 parabolic solar reflectors a year, enough to power a 50 MW power plant. This development solidifies Solel's position as the leading solar thermal energy company. Solel has already announced a number of contracts to supply solar thermal technology to Spanish developers and has recently completed the re-supply of most of the solar receivers for the solar power plants under commercial operation in California's Mojave Desert. Solel's American division, Solel USA, has a signed agreement with Pacific Gas and Electric Company to deliver 553 MW of solar power from the Mojave Desert by 2012.

About Solel Solar Systems Ltd.

Solel, based in Bet Shemesh, Israel, is the leader in utility scale solar thermal technologies, providing the solar "fuel" for producing clean electricity. The Solel parabolic trough technology has proven itself commercially over two decades with the continuous production of 354 MW of utility scale power, helping California consumers reduce their annual oil consumption by two million barrels. In addition, Solel provides the key technology for new solar power plants in the U.S. and Spain. Solel's headquarters, manufacturing plant and R&D center are in Beit Shemesh, Israel, and it operates in the U.S. through its subsidiary, Solel, Inc. In Spain, Solel operates through its subsidiary, Solel Spain, and is represented for sales by Pasch Y CIA. For more information please visit: www.solel.com.

About Glaston

On July 5, 2007 Glaston published an One-Stop-Partner order press release that is associated with the release of today. Glaston Corporation is a growing and international glass technology company. Glaston is the global market leader in glass processing machines and a comprehensive One-Stop-Partner supplier to its customers. Its product range and service network are the most extensive in the industry. Glaston's well-known brands are Bavelloni, in preprocessing machines and tools, Tamglass and Uniglass in safety glass machines and Albat+Wirsam in software solutions. Glaston's own glass processing unit, Tamglass Glass Processing, is a manufacturer of high quality safety glass products, and operates in Finland. Glaston's share (GLA1V) is listed on the OMX Nordic Exchange Helsinki Mid Cap List. Consolidated net sales in 2007 were EUR 269.8 million. Glaston had about 1,400 employees at the end of the year. Glaston has machine manufacturing in six countries on four continents and sales and maintenance in nearly 30 countries.

600450 Solel and Glaston Open $9M Solar Reflector Manufacturing Facility glassonweb.com

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