NANJING, China, June 7 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, announced today that it has taken further steps to commercialize the production of its selective emitter cells. Selective emitter cells are an improved version of the P-type solar cells currently produced by most solar cell manufacturers.
Following extensive research and development, the Company has been able to achieve small-scale commercial production of its selective emitter cells and also deliver average conversion efficiency rate that has been well above 17%. Following these promising pilot production runs, China Sunergy is confident that it remains on track to achieve full scale commercial production of selective emitter cells in the second half of 2007.
As part of the move towards full commercial production of selective emitter cells, the Company has already placed an order with Italian based equipment manufacturer Baccini S.P.A. to purchase a printing machine that will allow it to conduct more scalable commercial production runs of these high-efficiency cells in the second half of the year. The printing machine and other ancillary equipment are expected to arrive in late June and the installation and trial run to be completed sometime in July this year.
Commenting on the development, Lu Tingxiu, Chairman and CEO of China Sunergy said:
"The commercialization of our selective emitter cells remains on track and I am pleased with the results our research and development team has achieved. China Sunergy will continue to focus on developing the technologies required to produce highly-efficiency solar cells and on being an industry leader in this important part of the solar value chain."
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.
Forward-looking Statements
This release contains forward-looking statements. Whenever you read a statement that is not simply a statement of historical fact (such as when we describe what we "believe" or "expect" will occur, and other similar statements), you must remember that our expectations may not be correct, even though we believe that they are reasonable. We do not guarantee that the events described in this release will happen as described or that they will happen at all. You should read this release with the understanding that actual future results may be materially different from what we expect. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. We undertake no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though our situation will change in the future.
Whether actual results will conform with our expectations and predictions is subject to a number of risks and uncertainties, many of which are beyond our control, and reflect future business decisions that are subject to change. Some of the assumptions, future results and levels of performance expressed or implied in the forward-looking statements we make inevitably will not materialize, and unanticipated events may occur which will affect our results. The "Risk Factors" section of the prospectus we filed with the SEC on May 17, 2007 describes the principal contingencies and uncertainties to which we believe we are subject.
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
Peter Schmidt:
Tel: +1-212-850-5654
Email: Peter.Schmidt@fd.com
