Average Efficiency Rates of 17.5% Achieved From Mass Production Cells
NANJING, China, Nov. 19 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. ("China Sunergy") (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, announced today that it has started mass production of its selective emitter cells after successfully commissioning recently arrived production equipment.
Commercially produced selective emitter cells yielded an average efficiency rate of 17.5% during the first few days of mass production.
Prior to starting mass production, China Sunergy achieved 18.2% conversion efficiency on some of its pilot runs in early November.
Commenting on the announcement, Dr. Jianhua Zhao, CTO of China Sunergy, said: "I am delighted that we have managed to develop and commercialize these high-efficiency cells in less than a year, and am confident that as we refocus our R&D resources we will be able to achieve similar success with other high- efficiency cell products. As we continue to optimize our selective emitter cell equipment and technology, I also believe that we should be able to achieve average efficiency rates of 18% on future commercial batches of these cells."
Commenting further, Dr. Allen Wang, CEO of China Sunergy said: "I have always believed in the technological advantage China Sunergy holds and this is strong evidence that our R&D efforts are starting to pay off. We will continue to drive further efficiency from these cells going into 2008 and will be adding an additional four production lines during the second-half of the year, as we look at ways to expand our margins going forward."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the company's ability to raise additional capital to finance the company's activities; the effectiveness, profitability, and the marketability of its products; the future trading of the common stock of the company; the ability of the company to operate as a public company; the period of time for which its current liquidity will enable the company to fund its operations; the company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For further information, please contact:
China Sunergy
Fischer Chen
Email: fischer.chen@chinasunergy.com
Financial Dynamics
Julian Wilson
Tel: +86-10-5811-1902
Email: julian.wilson@fd.com
Michael Polyviou
Tel: +1-212-850-5748
Email: michael.polyviou@fd.com
