Applied Materials CEO sees solar-panel revenue $500 mln by 2010

[jpak]

http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=google&guid=%7B4522B210-EEEE-4B82-A7E3-D66C2B6A7BA7%7D&keyword=

Applied Materials Inc. (AMAT) Chief Executive Michael Splinter said Tuesday the solar energy market represents a $4 billion opportunity for the semiconductor-equipment maker.

Speaking during the company's analyst meeting, which was broadcast over the Internet, Splinter said that by 2010 capital expenditures spent on solar energy equipment will approach $3 billion. Splinter sees no reason why Applied Materials can't capture 15% to 20% of the capital expenditures in that time frame, giving its solar energy business $500 million in revenue by 2010.

According to Splinter, Applied Materials is pushing into the solar energy market now in part because it has the equipment to supply the solar energy market.

While Splinter says making equipment for the semiconductor business will continue to be its main business for many years to come, the company also wants to grow in markets it isn't already in. He said solar energy is an area that focused on silicon and is a global and international play for the company.

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[Gregorian]

1. This is a major landmark.

We are now entering into the next phase in human energy conversion. The fact that AM sees this is testament to the avalanche that is about to occur. Whether growing crystals will be how photovoltaics are made, will be seen.

I find this a bit nostalgic as my father was one of the very early engineers for the company. Energy is the new frontier.