Solar EnerTech Corp. (OTCBB:SOEN) (the "Company") today announced it has entered into a 15MW contract with Aussie Solar Installations (“Aussie Solar”), a division of Carbon Management Solutions Pty Ltd., one of Australia’s leading distributors of solar power equipment, to distribute the Company’s solar panel modules in Australia.

Aussie Solar has specialized in the sale, assembly and installation of photovoltaic equipment since 2001. Aussie Solar/Carbon Management Solutions is a prime PV system integrator and over the years, has grown into one of the largest solar power installers in New South Wales, Australia. Since 2009, Aussie Solar has had the exclusive right to distribute Solar EnerTech’s solar panels in Australia. Under the contract, Solar EnerTech’s total shipment to Aussie Solar amounts to approximately US$26 million, which the Company plans to deliver in separate shipments before the end of 2010.

“We are delighted to be fulfilling one of our largest orders to date to Australia,” commented Leo Young, Chief Executive Officer of Solar EnerTech. “This new contract is a reflection of the improved business environment as we’re seeing more customers place orders with us based on our high quality, customized products. We have the right operating platform and team in place to further increase our new business opportunities and expand our customer base.”

“We are very pleased to enter into this contract with Solar EnerTech,” said Amber Ferguson, Managing Director of Aussie Solar. “We are responsible for the entire installation process -- from supplying solar components through connecting systems -- and our platform’s ease-of-use has resulted in high levels of customer satisfaction. Quality control and customer satisfaction are imperative in our business and we are pleased to work with companies like Solar EnerTech, which have high product quality and strong support.”

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 67,107-square-foot manufacturing facility in Shanghai's Jinqiao Modern Technology Park in Shanghai, China. The Company currently has two 25MW solar cell production lines and a 50MW solar module production facility.

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.

Solar Enertech (CE) (USOTC:SOEN)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Solar Enertech (CE) Charts.
Solar Enertech (CE) (USOTC:SOEN)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Solar Enertech (CE) Charts.