Spire and Gloria Solar to Dissolve Systems Joint Venture

Spire to form Spire Solar Systems to pursue U.S. PV systems installation business.

BEDFORD, Mass.--(BUSINESS WIRE)--Jun. 11, 2009-- Spire Corporation (Nasdaq: SPIR), a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic (PV) modules worldwide, and Gloria Solar Co., Ltd., (“Gloria Solar”) of Tainan, Taiwan, a leader in PV module manufacturing, announced today that they have reached an agreement to liquidate their Joint Venture, Gloria Spire Solar, LLC (“GSS”), which performed PV systems integration within the United States (U.S.).

Over the past several months, with the pause in the market for PV systems, Spire and Gloria reassessed their strategies for their respective solar product lines and reached the decision that the best course of action was to dissolve GSS. The companies agreed to an allocation of the remaining assets of GSS including cash, after all liabilities have been paid. Each company will also receive a share of project leads. Spire Solar Systems will continue to support the current customer base.

Spire will re-establish this business as “Spire Solar Systems” which will continue to provide PV systems integration for the U.S. market. Spire Solar Systems will be located at Spire’s headquarters in Bedford, Massachusetts. To maintain continuity with the existing client base, it will be staffed by several key employees from GSS and will operate under Stephen Hogan, Executive Vice President and General Manager of Spire Corporation, as acting CEO of Spire Solar Systems.

“This new direction will free Spire to develop new opportunities emerging rapidly in the U.S. systems market, stimulated by the federal funding,” said Roger G. Little, Chairman and CEO of Spire Corporation. “Also, Spire Solar Systems can provide an outlet for modules manufactured by our turnkey module line customers. Additionally we can provide systems design, training, and integration services to these customers. This approach supports our overall strategy of encouraging distributed local module manufacturing.”

About Spire Corporation

Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture PV modules worldwide. Spire Semiconductor provides processing technology for Spire’s silicon solar cell manufacturing lines and produces and sells custom gallium arsenide cells for solar concentrator systems. For corporate or product information, contact Spire Corporation, “The Turnkey Solar Factory Company,” at 781-275-6000, or visit www.spirecorp.com.

Certain matters described in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-K and other periodic reports filed with the Securities and Exchange Commission.