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Press release from Business Wire

First Solar Appoints Raffi Garabedian Chief Technology Officer; Dave Eaglesham Retires

Thursday, May 03, 2012

First Solar Appoints Raffi Garabedian Chief Technology Officer; Dave Eaglesham Retires17:02 EDT Thursday, May 03, 2012 TEMPE, Ariz. (Business Wire) -- First Solar, Inc. (NASDAQ: FSLR) today announced the retirement of Dave Eaglesham, Chief Technology Officer, and the appointment of Raffi Garabedian as his successor. Garabedian joined First Solar in 2008 as Director of Disruptive Technologies, and was promoted to Vice President of Advanced Technologies in 2010, overseeing the Company's advanced research and development (R&D) operations in Santa Clara, Calif. Eaglesham joined First Solar in 2006, and during his six years as First Solar's top technologist the Company's R&D group has achieved multiple world records for cadmium-telluride (CdTe) cell and module efficiency. “We thank Dave for his tremendous contribution to our success and his unwavering commitment to our mission, and we wish him the very best,” said Mike Ahearn, First Solar's Chairman. “Raffi is an experienced technology leader with a proven track record in our R&D organization, and we are confident in his ability to execute and extend our technology roadmap going forward.” “I am very proud of what we have achieved, not only in the lab, but on production lines and in solar power plants around the world,” said Eaglesham. “Raffi has been an integral part of our success, and I am very confident in his ability to lead our R&D program and to carry on our tradition of innovation.” Garabedian earned a BSEE degree from Rensselaer Polytechnic University and an MSEE degree from the University of California at Davis. Prior to joining First Solar, he was founder and CEO of Touchdown Technologies, a semiconductor test equipment company. Prior to that, Garabedian worked in the semiconductor and microelectromechanical systems (MEMS) industries for over 15 years, developing new products ranging from automotive sensors to telecommunications switching systems, and holds more than 20 issued patents in these fields. First Solar utilizes a continuous manufacturing process which transforms a sheet of glass into a complete solar module in less than 2.5 hours, which contributes to the company's industry-leading energy payback time and the low carbon footprint of systems using First Solar PV modules. First Solar also implemented the industry's first comprehensive, prefunded solar module collection and recycling program. Anyone wishing to dispose of First Solar modules can request collection at any time, at no additional cost, and First Solar will pick up the modules and recycle up to 90% (by mass) of the material for use in new products, including new solar modules and new glass products. About First Solar, Inc. First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module collection and recycling, First Solar's renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com. For First Solar Investors This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. First Solar, Inc.MediaTed Meyer+1 (602) 427-3318ted.meyer@firstsolar.comorInvestorsDavid Brady+1 (602) 414-9315dbrady@firstsolar.comLuke Fairborn+1 (602) 414-9315lucas.fairborn@firstsolar.comMichelle Pereira+1 (602) 414-9315michelle.pereira@firstsolar.com