SHENYANG, China, Oct. 13 /PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) ("A-Power" or “the Company”), a leading provider of distributed power generation systems in China and a fast-growing manufacturer of wind turbines, today announced that it will attend the Solar Power International Conference (SPI), which will take place on October 27-29, 2009, at the convention center in Anaheim, California.
Mr. Jinxiang Lu, A-Power’s Chairman and CEO, Mr. John Lin, its COO and director, and Mr. Eiji Ino, President of the Japanese thin-film photovoltaic cell maker EVATECH Co., Ltd. (“EVATECH”) will attend the SPI and also hold one-on-one investor meetings at the conference.
“A-Power is looking forward to meeting prospective customers and investors at the SPI, the largest solar conference and expo in the United States,” said Mr. Lu. “Every year this well-known conference attracts attendees from all segments of the solar value chain, and we will be very proud to be part of this important solar industry event.”
According to the SPI Website (http://www.solarpowerinternational.com/), approximately 750 companies and organizations, as well as more than 20,000 people, will exhibit at the SPI 2009.
In September of this year, A-Power signed an agreement to acquire 100% of EVATECH. The closing of the acquisition, expected to occur later this year, is subject to EVATECH’s rehabilitation process in the courts of Japan related to the EVATECH’s corporate and debt restructuring.
About A-Power
A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with technologies licensed from German FUHRLANDER AG and Denmark-based Norwin, and a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. A-Power also has strategic relationships with Tsinghua University in Beijing and the China Academy of Sciences in Guangzhou to develop and commercialize other renewable energy technologies. For more information, please visit http://www.apowerenergy.com .
Safe Harbor Statement
This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, our limited operating history and recent entrance into new markets may make it difficult for you to evaluate our business and future prospects; a decrease in the rate of growth of China's industry and economy may lead to a decrease in our revenues because industrial companies in China are our principal source of revenues, we may not be able to complete the acquisition with our acquisition target EVATECH; our acquisition target is undergoing restructuring in local courts, which may interfere with our ability to close the acquisition of the target company; our acquisition target's restructuring process in local courts relates to financial difficulties it experienced in the operation of its business, and it may continue to experience financial difficulties after we acquire it; our technicians may have difficulty adapting to new technology; systems that we develop and install may contain design or manufacturing defects, which could result in reduced demand for our services and customer claims and uninsured liabilities, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2008, amended. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.
Contact:
Mr. John S. Lin
Chief Operating Officer
A-Power Energy Generation Systems
john@apowerenergy.com
Mr. Valentine Ding / Mr. Dixon Chen
Investor Relations
Grayling
+1-646-284-9412
valentine.ding@us.grayling.com
dixon.chen@us.grayling.com
