DuPont Leader: Photovoltaics Growth Powered by Market-Driven Innovation
Sales of $1 Billion in 2010 Based on New Product Launches, Rich Technology Pipeline and Strong Market Demand
|Contact: Dan Turner|
WILMINGTON, Del., Sept. 22, 2010 – DuPont Electronics & Communications President David B. Miller said today that the company expects to achieve $1 billion in revenue from sales into the photovoltaic market in 2010 -- one year ahead of schedule. The growth is supported by new market-driven innovations that improve solar module efficiency and performance, bringing costs down in line with other forms of energy and reducing the world’s dependence on fossil fuels.
“We are delivering growth through our market-leading position in materials such as DuPont™ Solamet® metallization paste, DuPont™ Tedlar® backsheet films and a family of encapsulant resins and films that improve the efficiency and reliability of solar modules,” Miller told analysts participating in the DuPont Business Series webcast.
“Our broad portfolio of offerings spans crystalline silicon cells and modules as well as thin film modules, putting us in an ideal position to capitalize on market growth in both segments of the photovoltaics industry. Several notable new product launches this year have helped us to accelerate growth above market. We also are investing in greater production capability and partnering with our customers to help keep pace with the fast rising global demand,” said Miller.
The photovoltaics industry has been experiencing explosive growth in 2010 as demand for high-performance and lower-cost products continue to increase. With a global population expected to exceed 9 billion in 2050 and global energy consumption projected to increase 60 percent, and more than double in emerging markets in the next 20 years, Miller emphasized the need to face head-on the challenge of developing renewable energy sources, and how innovation will be a driving force toward delivering solutions.
“Addressing energy needs is a global concern. The generation of renewable energy will be the fastest growing sector in the energy market for the next 20 years, and materials for photovoltaic applications are a critical success factor for sustainable growth,” said Miller. “We can apply the power of our market-driven science to offer products and technologies that can transform the sun’s potential into clean energy, contributing to decreasing dependence on fossil fuels.”
DuPont is applying the power of its integrated science to help reduce the world’s dependence on fossil fuels. DuPont has a range of market-leading innovations that address the renewable energy challenge, including enabling materials for photovoltaics, biofuels, renewably sourced materials and technologies engineered to improve energy efficiency.
Today’s presentation can be found at the Investor Center of the company’s website at www.dupont.com.
DuPont (www.dupont.com) 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 90 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 and development of new products, including regulatory approval 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.