Design Wins With Major European and US Solar Cell Manufacturers Marks Strategic Vertical Market Success
LIVERMORE, Calif.--(BUSINESS WIRE)--Jan. 18, 2007--Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, announced today that they have secured new design wins with four solar panel manufacturing companies in the rapidly expanding international solar power market.
During the quarter just ended, Adept delivered over $300,000 in Adept's vision guided robotics to the Solar industry, bringing the installed base, into this sector, to over 75 systems. Solar joins Disk Drive, Medical Device and Life Sciences and High Speed Packaging as defined strategic vertical markets, all of which require clean room operation combined with fine precision and flexibility
"The rapid growth in demand for solar power has created a shortage of solar panels, which has given rise to high volume, manufacturing programs. This includes both traditional silicon based solar panels and alternate technologies, such as thin film solar panels and string ribbon production methods," said Robert Bucher, chief executive officer of Adept Technology, Inc.
Bucher continued, "To get the required production yields, high volume solar panel processing plants are combining robotics with on-the-fly inspection. This makes an ideal vertical market for Adept's vision integrated motion software incorporated into our line up of precision industrial robotics."
The Solar Power Market has had consistent 20-25% CAGR over the past 20 years according to Solar Buzz LLC, a leading Solar Power Market Research Firm. European, China and US demand for photovoltaic modules will more than triple by 2010, driven by innovations, economies of manufacturing, cost of alternate energy sources and government regulations and subsidies.
About Adept Technology
Adept Technology, Inc. designs, manufactures and markets robotic systems, motion control and machine vision technology for global markets including automotive, consumer electronics, consumer goods, food, industrial tooling, medical devices, and pharmaceutical. Adept robots, controllers, and software are used for small parts assembly, material handling and packaging. Adept intelligent automation product lines include industrial robots, configurable linear modules, machine controllers for robot mechanisms and other flexible automation equipment, machine vision, and systems and applications software. Founded in 1983, Adept Technology is the largest U.S.-based manufacturer of industrial robots. More information is available at www.adept.com.
CONTACT: Adept Technology, Inc.
Lauren Bucher, 925-245-3533 (Press and Industry Analyst)
Steve Moore, 925-245-3413 (Financial Analyst)
Chief Financial Officer
SOURCE: Adept Technology, Inc.