PowerFilm, the developer and manufacturer of flexible
Solar panels fell sharply after stating that group revenues will be 20-25% below expectations this year.
The fall in revenues was due to delays in the expansion of its manufacturing facilities. The Company said it now expects sale of "not less than US$8 million" for the current financial year. Despite the setback, PowerFilm reconfirmed its commitment to have 10 megawatts of installed capacity by the end of 2009, rising to 24 megawatts by the end of 2010.