EVERGREEN SOLAR (NasdaqNM: ESLR)

Dear Reader, 

You may have noticed that we have featured Evergreen Solar several times in the last few weeks.  Evergreen Solar has the long-term vision of providing consumers with cheaper, cleaner energy and reducing third-party dependence. Since we brought you our original profile on November 21, 2002 (Click Here), ESLR released important news regarding its String Ribbon Technology (Click Here) on December 4, 2002 and the StockUpTicks special feature CEO ACCESS, brought you an exclusive interview with ESLR CEO Mark Farber (Click Here) that highlighted ESLR's current momentum and future strategy for growth. 

Here's a brief review of the high points:

ELSR TRADES AT 30% OF BOOK VALUE
ELSR HAS $13.5 MILLION IN CASH
ELSR HAS A 9-TO-1 RATIO OF ASSETS TO LIABILITIES

ESLR - Sunlight to Electricity Today

Strong Management
Evergreen Solar was started in 1994 in a 2,500 square foot laboratory by three founders from Mobil Solar. Mark Farber, President and CEO, has spent 26 years in the energy field and was director of marketing at Mobil Solar.  Richard Chleboski, Chief Financial Officer, was the head of strategic planning at Mobil Solar. Jack Hanoka, Chief Technology Officer, was one of their most prolific inventors at Mobil Solar and has been instrumental in Evergreen’s technology development efforts. 

Power Products In The Building Industry
ESLR primarily sells photovoltaic (PV) modules - the engines of solar electric systems - used in remote power and emerging grid-connected markets. The PV modules produced by Evergreen Solar are distinctive in their appearance because they incorporate proprietary crystalline silicon technology known as String Ribbon. ESLR is also developing solar roofing tiles and other building-integrated solar power products that will accelerate the acceptance and penetration of  solar power products in the building industry. 

Design And Quality
The Company's solar panels will be enhanced by its wrap-around solar cells, which are currently under development, to provide simplified interconnection procedures allowing greater range in solar panel design and a distinctive, attractive appearance for on-grid solar systems. The Company's current solar panels range from 47 to 110 watts. The Company's solar panels are certified to international standards for safety and quality.

Manufacturing & MIT 
The ESLR manufacturing facilities contain state-of-the-art equipment for crystal growth, cell processing, and module lamination. The Company maintains strong ties to the Massachusetts Institute of Technology, including the active involvement of String Ribbon's inventor, Prof. Emanuel Sachs.

Evergreen Solar has positioned itself in the world markets for solar power by involving itself in sales and projects that span a wide array of individual, industrial and commercial needs. Solar Power has become the best generator for many remote or dispersed off-grid applications including telecommunications, water pumping, navigation aids, transportation signals, remote lighting, and rural homes and in a larger context, small grid-connected markets are emerging from utility and government-sponsored demonstration projects and pioneering consumer markets. 
 
 

Large And Small Energy Systems That Incorporate ESLR PV Modules

A Rooftop In Japan	A California House	Back-Up In Arizona	Rural Honduras

Evergreen Cedar Series Photovoltaic Modules Evergreens's PV modules provide clean, quiet, reliable electricity from sunlight where traditional sources are too distant, expensive, or environmentally unacceptable. With no moving parts to wear out, no emissions of any kind, and a limitless, readily-available power source, PV meets the need for electricity in places and ways that other sources simply cannot.

To understand the importance of String Ribbon technology is to grasp the elegant balance it strikes between conventional and emerging technologies. String Ribbon combines the best attributes of conventional crystalline silicon and emerging thin films. It achieves the reliability, stability, high efficiency, and market acceptance of crystalline silicon - without the inherent cost and waste of sawing. And it embodies the efficient material utilization and potential for continuous processing of thin films, but with a more manufacturable process. 

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