Intevac, Inc. (Nasdaq:IVAC), a leading supplier of thin-film processing systems, announced the receipt of an order for 12 ENERGiâ„¢ ion implant systems for advanced solar cell manufacturing. A record solar order for Intevac's Thin-film Equipment business, this follow-on order enables over 1GW (gigawatt) of high-efficiency solar cell capacity expansion by the same customer in China that had ordered two systems in 2016.

"The industry is beginning its transition to higher-efficiency solar cells, which reduce the Levelized Cost of Electricity (LCOE)," commented Wendell Blonigan, president and chief executive officer of Intevac. "Securing this record solar order from a leading cell manufacturer in China validates the capability and value proposition of our implant technology for high-efficiency solar cell manufacturing, and demonstrates continued and meaningful progress in our Thin-film Equipment growth strategy."

"Our customer's capacity expansion of high-efficiency bi-facial solar cells incorporates our ion implant source technology as a key enabler in achieving higher-efficiency N-type solar cells," said Chris Smith, vice president of business development for Intevac's Thin-film Equipment business. "Over the past several months, we have collaborated with our customer to optimize the cell efficiency and drive for an overall lower cost-of-ownership to enable this advanced cell design."

The first two ENERGi systems were ordered in the second quarter of last year and shipped in the second half of 2016. The 12 follow-on systems are scheduled to ship in the second half of 2017, with revenue recognition dependent on the timing of customer sign-off. Company management will provide an update to fiscal 2017 revenue guidance during its first-quarter results conference call scheduled for May 1, 2017.

Intevac | www.intevac.com