http://www.crystalox.com/

With 25 years in solar technology development, PV Crystalox Solar is a leading manufacturer of multicrystalline silicon ingots and wafers, the key component in solar power systems.

Its customers, the world's leading solar cell producers, combine these wafers into solar modules to harness the clean, silent and renewable power from the sun.

PV Crystalox Solar is playing a central role in making solar cost competitive with conventional hydrocarbon power generation, and as such continues to seek to drive down the cost of production whilst increasing solar cell efficiency. The gap between the cost of solar power production and utility energy is decreasing year on year.

With a long history of production with high growth and profitability, PV Crystalox Solar is well placed to benefit greatly from the rapid growth in the solar energy market

London, United Kingdom: PV Crystalox Solar Plans Listing on London Stock Exchange

PV Crystalox Solar, a producer of solar-grade silicon products for solar electricity generation systems, today announced its intention to proceed with an initial public offering of its ordinary shares, which are intended to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange.

JPMorgan Cazenove has been appointed as sponsor to the Company and global coordinator and sole Bookrunner in relation to the offer. Jefferies International Limited has been appointed as co-lead manager.

PV Crystalox Solar, initially established in the UK in 1982, is a highly specialised supplier to the worlds leading solar cell manufacturers, producing multicrystalline silicon ingots and wafers for use in solar electricity generation systems. The Group was one of the first to develop multicrystalline technology on an industrial scale, setting the industry standard for ingot production.

PV Crystalox Solar manufactures silicon ingots in Oxfordshire, United Kingdom, with the majority of its output shipped to Japan, where it is sold either as ingots or as wafers after processing by a sub-contractor. The balance of the Groups ingots are processed into wafers for European customers at the Groups facilities in Erfurt, Germany. The German operation is constantly developing the Groups wire saw technology for the production of thinner wafers.

PV Crystalox Solar has strong, long-established relationships with major solar cell manufacturers, including Sharp and Schott Solar. The Group does not compete with its customers and is therefore able to work closely with them to improve wafer quality and minimize costs.

By focusing purely on the production of solar-grade silicon products, the Group benefits from the higher margins available to companies in the upstream of the photovoltaic value chain, where there are fewer competing manufacturers and higher barriers to entry.

PV Crystalox Solar has an established record of delivering strong financial performance. The Group recorded revenues of 242m for the year ended 31 December 2006, an increase of 32% (31 December 2005: 183m) and a 56% increase in Group pre-tax profits to 49m (31 December 2005: 31.3m)

In 2006 the Group produced silicon wafers and ingots corresponding to a solar electricity generation capacity of 215 MWp. As at the end of 2006 the Group had available production capacity equivalent to 288 MWp and employed around 200 staff.

Iain Dorrity, Chief Executive Officer, PV Crystalox Solar said PV Crystalox Solar has a long and successful history as one of the worlds leading manufacturers of solar-grade silicon products. Over the last five years we have been consistently profitable, trebling our sales and continuing to grow our margins. We look forward to listing on the London Stock Exchange, which we believe will further enhance our ability to grow the business.

The Group is proposing to build its own polysilicon production facility in Germany to secure an additional source of feedstock. The Directors believe that in-house polysilicon production will provide greater flexibility in sourcing its silicon feedstock. PV Crystalox Solar expects the facility to commence operation in 2009 with an initial planned production volume of 900 metric tonnes in that year, rising to 1,800 metric tonnes in 2011
http://www.solarbuzz.com/news/NewsEUCO396.htm

Interim Results

Market overview
· Intensively competitive PV industry environment continued in H1 2014
· Wafer prices have fallen back to mid-2013 levels
· Global PV installations lower than expected in H1 2014
· PV trade disputes resume in USA and China

Overview of results
· Cash conservation strategy continues
· Wafer shipments 99MW (H1 2013: 84MW)
· Revenues €30.1m (2013: €28.3m)
· Loss from continuing operations €6.9m (H1 2013: Profit €1.3m)
· Net cash of €35.4m on 30 June 2014 (31 December 2013: €39.2m)
· €8.7m to be received in customer settlement in September 2014

Iain Dorrity, Chief Executive Officer, commented:
"Despite the continuing challenging PV market conditions, we are pleased to report the Group has increased shipment volumes and strengthened customer relationships in Taiwan and Europe. The Group has a healthy net cash balance and maintains significant manufacturing operating capacity. The Board believes that its ongoing strategy will maximise shareholder value and position the Group to take advantage of an eventual return of a more rational business environment."

Interim Management Statement

A bit of life?

This long-running solar was mentioned Sat. in the Mail (DYOR), as potential, I recall. Nothing more, yet MMs have pushed SP to 18p. ( +A few days ago this was 12p and unattractive then, IMHO. )
In 2012 sp was 4p - and Markets have only got worse - the whole thing dependent on Tax advantages. Householders who pay for Solar are taking a huge risk - and ignoring potential failure of the panels, even before they break-even....IMHO.
EDIT (30Sept2016)- seems they've wriggled out of a contract (mutually), to buy silicon above Market prices ( What!)....so sp has fallen to