Solar EnerTech's U.S. Joint Venture Company to Attend Large Solar Trade Show in the U.S.
October 26 2009 - 9:00AM
PR Newswire (US)
MOUNTAIN VIEW, Calif., Oct. 26 /PRNewswire-Asia/ -- Solar EnerTech
Corp. (OTC:SOEN) (BULLETIN BOARD: SOEN) (the "Company") today
announced that SET-Solar Corp. (previously referred to as
Shunda-SolarE Technologies), the Company's joint venture with
Jiangsu Shunda, one of China's largest polysilicon and wafer
manufacturers, will appear at the Solar Power International
Conference from October 27-29, 2009 at the Anaheim Convention
Center in Anaheim, California. SET-Solar Corp. will exhibit its
polysilicon material, silicon ingots and wafers produced by Jiangsu
Shunda and high-efficiency solar cells and high-performance solar
modules produced by Solar EnerTech. The conference is the largest
business to business solar event in North America. Over 800
exhibitors and more than 25,000 attendees are expected to attend.
Leo Young, the Company's President and Chief Executive Officer
along with other members of senior management will be in attendance
to meet with existing customers and prospective investor groups.
The high volatility of oil prices, coupled with increased concerns
over rising CO2 emissions worldwide, has led to the cultivation of
renewable energy projects, including advanced photovoltaic (PV)
technology, in recent years. Solar EnerTech and its PV cells and
module applications have benefitted from increased demand for clean
energy sources worldwide. "Our business has been propelled by the
ongoing efforts and investment from European countries, and more
recently by local governments and businesses in the US," said Leo
Young, the Company's Chief Executive Officer. "Through our U.S.
joint venture, Solar EnerTech is participating in this tradeshow to
showcase new products and introduce its value-added services to all
US-based B2B and B2C PV industry players." Roland Chu, SET-Solar's
Chief Executive Officer commented, "We are pleased with the growth
of SET-Solar in the five months in which we have been in business.
We are also pleased to have obtained the California Solar
Initiative (CSI) Listing, which enables us to penetrate multiple
sectors of the PV market in the U.S. Our strategy with our
customers has been to move beyond simply supplying solar panels and
offer a more comprehensive service solution that includes inverters
and other accessories, as well as financing and leasing options. We
remain encouraged with our growth opportunities in the U.S.
marketplace." Solar EnerTech/SET-Solar's showcase at the Anaheim
Convention Center is exhibit space #1285. About Solar EnerTech
Corp. Solar EnerTech is a photovoltaic ("PV") solar energy cell
manufacturing enterprise incorporated in the United States with its
corporate office in Mountain View, California. The Company has
established a sophisticated 63,000 square foot manufacturing plant
located in China, in Shanghai's Jinqiao Modern Technology Park.
Currently, the Company is capable of producing 50MW of solar cells
from its existing production lines. Solar EnerTech has also
established a Joint R&D Lab at Shanghai University to develop
higher efficiency cells and to put the results of that research to
use in its manufacturing processes. Led by one of the industry's
top scientists, the Company expects its R&D program to help
bring Solar EnerTech to the forefront of advanced solar technology
research and production. Safe Harbor Statement Statements contained
in this press release, which are not historical facts, are
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based largely on current expectations and are
subject to a number of known and unknown risks, uncertainties and
other factors beyond our control that could cause actual events and
results to differ materially from these statements. These
statements are not guarantees of future performance, and readers
are cautioned not to place undue reliance on these forward-looking
statements, which are relevant as of the date of the given press
release and should not be relied upon as of any subsequent date.
Solar EnerTech undertakes no obligation to update publicly any
forward-looking statements. DATASOURCE: Solar EnerTech Corp.
CONTACT: Bill Zima of ICR Inc., +1-203-682-8200 (Investor
Relations)
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