DuPont Expects Continued Revenue Growth in Global Photovoltaic Market
Accelerating R&D Pipeline and Expanding Production Capacity to Fuel Growth
|Contact: Dan Turner|
NEW YORK, March 17, 2009 - DuPont expects to nearly triple its annual photovoltaic sales to more than $1 billion in 2012 based on strong fundamentals for long-term revenue growth in the photovoltaic solar energy market, combined with the company’s ability to deliver new technologies to the industry.
“Through investments in materials, technology development and manufacturing, DuPont is accelerating its ability to deliver innovations that will improve the lifetime and efficiency of photovoltaic modules,” David B. Miller, group vice president -- DuPont Electronic and Communication Technologies, said today at the Jefferies 7th Global Clean Technology Conference. “Photovoltaic technology is in its infancy and the opportunities in this market are extensive. DuPont is uniquely positioned to bring new, advanced technologies for future growth in traditional crystalline silicon and emerging thin film photovoltaic segments. We also are investing in greater production capability to help keep pace with the fast rising global demand.”
DuPont anticipates that the photovoltaic market will grow by double digits over the next several years, driving demand for existing and new materials that are more cost effective. The market size today is about $30 billion, and according to industry estimates, will increase to $70 billion by 2013. Within the past year, DuPont has made significant investments in product development and capacity expansions for leading brands critical to photovoltaic module manufacturing, including DuPont™ Tedlar® polyvinyl fluoride (PVF) films and DuPont™ Solamet® thick film metallization pastes, consistent with the rise in demand.
Further accelerating its capability to meet emerging materials requirements through new offerings in the thin film photovoltaic energy market also is critical for DuPont. The growth rate for thin film is projected to be about twice as high as demand for crystalline silicon, and DuPont expects this increase to drive specifications for both new and existing products that serve the thin film industry.
DuPont is a leading material and technology supplier to the photovoltaic industry with more than 25 years of experience in photovoltaic materials development and manufacturing. DuPont photovoltaic solutions represents the broadest portfolio in the solar energy industry, with more than 10 products critical to photovoltaic production, designed to work together to help increase the efficiency and lifetime of solar modules.
Today’s presentation can be found at the Investor Center of the company’s website at www.dupont.com.
DuPont – one of the first companies to publicly establish environmental goals 19 years ago – has broadened its sustainability commitments beyond internal footprint reduction to include market-driven targets for both revenue and research and development investment. The goals are tied directly to business growth, specifically to the development of safer and environmentally improved new products for key global markets.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials; research, development and field testing of new products, including regulatory approvals and market acceptance; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.