SANTA CLARA, Calif., Oct. 8 /PRNewswire-FirstCall/ -- DayStar Technologies, Inc. (Nasdaq: DSTI), a developer of photovoltaic products based on CIGS thin film semiconductor technology, today will provide updates on two major areas: technical accomplishments, including Big Baby progress, and the build-out of the company's Newark, Calif. production facility. Dr. Stephan DeLuca, the company's CEO, will provide these updates in a conference call today at 10 am Pacific time.
To listen to the call, dial 210-839-8501 approximately 10 minutes prior to the start of the call. The pass code is DayStar. The conference call will be available via a live webcast on the investor relations section of the DayStar website at www.daystartech.com. Access the web site 15 minutes prior to the start of the call to download and install any necessary audio software. An archived webcast replay will be available on the web site for 12 months. A taped replay will be made available approximately one hour after the conclusion of the call and will remain available for one week. To access the replay, dial 203-369-3944. The pass code for the replay is 1234.
"We have met all of our Q3 technical goals and we are maintaining our timeline to begin production in Q1 2009 and commercial shipments in Q3 2009," Dr. DeLuca said. "We have been working on scaling up our deposition process with Big Baby, which allows us to deposit CIGS simultaneously on two, 2ft x 4ft glass substrates. To this date, we have met all of Big Baby's technical milestones. The work we have done with Big Baby has given me confidence that we have a fundamental tool design suitable for high volume CIGS production.
"We are on track in building our production line. CIGS 1 is now being assembled in our Newark facility with the final CIGS 1 chambers due to arrive next week. We expect to be able to run process in CIGS 1 before the end of this year. The tenant improvements in the manufacturing building are well under way and on time to meet the scheduled deliveries of the purchased tool sets for the remainder of the process steps. We continue to closely monitor our vendors to ensure on time deliveries of the production tools. We have moved engineering and materials management teams to our Newark facility, and we expect to have our complete operations team moved there this quarter," he said.
DeLuca also noted that the Company's plans to move beyond completion of its production line and facility and to support commercial production are dependent upon securing substantial additional capital to fund future operations. "We are currently considering various alternatives to secure the necessary additional financing to maintain our production scale-up and commercialization plans," he said. "Given current market conditions, the ability to secure necessary financing on acceptable terms remains a significant risk, but we believe that our technology and production capabilities are compelling."
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is engaged in the development, manufacturing, and marketing of photovoltaic products based upon CIGS thin film semiconductor technology. For more information, visit the DayStar website at www.daystartech.com.
Forward Looking Statement
Certain statements contained in this press release, including, without limitation, statements regarding expectations of further technological development as well as, timing and technical and financial ability to scale to production capacity and complete the build out of a production facility, and timing and ability to secure additional financing and other statements contained herein regarding matters that are not historical facts, are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements are only predictions based on assumptions that are believed to be reasonable at the time they are made and are subject to significant risks and uncertainties. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those factors discussed in the section entitled "Risk Factors" in our Annual Report on Form 10-KSB filed with the SEC on March 31, 2008 as well as other forms filed with the SEC. You should not place undue reliance on the forward- looking statements in this press release, and we disavow any obligation to update or supplement those statements in the event of any changes in the facts, circumstances, or expectations that underlie those statements.
SOURCE DayStar Technologies, Inc.
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