CHENGDU, China, Oct. 23 /PRNewswire-Asia/ -- Apollo Solar Energy, Inc. (OTC Bulletin Board: ASOE) ("Apollo Solar" or "the Company"), a leading vertically integrated miner, refiner and producer of high purity tellurium (Te), tellurium-based compounds and other metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide today announced that the Company has decided to postpone the previously proposed 10GW Ningguo Solar Power Station Project, including a 2MW Demo Solar Power Station in Ningguo City, due to challenges related to local government support, among other issues.
The Company has made this decision in order to focus on its core business and make necessary strategic adjustments to meet the changing solar industry environments in accordance with its long term growth plan.
About Apollo Solar Energy, Inc.
Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science and Technology Co., Ltd, is primarily engaged in mining, refining and producing high purity tellurium (Te), tellurium-based compounds and other metals for thin film solar PV industry as well as for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra- high purity metals and commercial-purity metals.
Safe Harbor Statement
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