CHENGDU, China, April 8 /PRNewswire-Asia-FirstCall/ -- 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) and tellurium based metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, in the People's Republic of China, today announced that its management team visited the National Renewable Energy Laboratory (NREL), Colorado State University (CSU), and Colorado School of Mines (CSM) -- three leading institutions in CdTe PV research.
At each of these three institutions, Mr. Renyi Hou, CEO of Apollo Solar, gave presentations of Apollo Solar's tellurium (Te) mines and reported the results of their latest mining investigations. Based on new geographic explorations, new Te sediment deposition layers were found. Mr. Hou estimates that Apollo Solar's tellurium (Te) production capacity will increase dramatically. Tellurium is the core element used in the Cadmium-Telluride (CdTe) thin-film solar PV industry.
The meetings and presentations at NREL in Golden, Colorado were attended by more than thirty top NREL scientists including four research group leaders. Mr. Hou reported, "As a major high purity Te supplier in the world, Apollo Solar expects to provide material and technology that will improve CdTe thin film PV efficiency."
Based upon new theories from scientists at the Apollo-New Jersey Institute of Technology (NJIT) CdTe Solar Research Center, Mr. Hou's report received an enthusiastic response from scientists at the NREL. Scientists expect that the new high purity methods used in Apollo Solar's Te refinery will help solve the practical problems in the CdTe thin-film PV industry and help manufactures, like First Solar Inc. (Nasdaq: FSLR), Apollo Solar's largest US customer, reach higher thin-film PV cell efficiency.
"Scientists of the NREL theory groups for CdTe and silicon will publish two significant joint papers with the Apollo-NJIT CdTe Solar Research Center," said Professor Ken K. Chin, Director of the Apollo-NJIT CdTe Solar Research Center. "They will use Apollo Solar's new high purity materials in their CdTe projects for testing and verification. The Apollo-NJIT CdTe Solar Research Center is preparing the theoretical part of the new methods for the joint paper while the scientists of the NREL are preparing the new ways to process the materials. We expect the new material test report to be completed in the near future."
About Apollo Solar Energy, Inc.
Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science & Technology Co., Ltd, is primarily engaged in mining, refining and producing tellurium (Te) and high-purity tellurium based metals 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
The statements contained herein that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, the statements regarding the Company's expected increase in its Te production capacity and the ability of its material and technology to improve CdTe thin film PV efficiency are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including but not limited to, general economic conditions and regulatory developments, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements. The forward-looking statements are made only as of the date of this press release, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance.
For more information, please contact:
Company Contact:
Dr. Jingong Pan, VP of IR
Email: drpan27@gmail.com
Tel: +1-732-261-2099
Investor Relations Contact:
John Campo, IR consultant
Wall Street International
Email: campojb@yahoo.com
Tel: +1-410-236-8200
