Solar EnerTech Enters into Sales Contract with Australian Solar Company
February 03 2010 - 9:00AM
Business Wire
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.
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