NANJING, China and SAN FRANCISCO, July 15, 2011 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy" or "The Company"), a specialized solar cell and module manufacturer, today announced the opening of its U.S. headquarters China Sunergy (US) Clean Tech Inc. in San Francisco. San Francisco Mayor Edwin M. Lee, China Sunergy Chairman Mr. Tingxiu Lu, and China Sunergy CEO Stephen Cai officially opened the new headquarters office at an opening ceremony and reception on July 14, 2011.
"The U.S. will eventually become one of the largest solar markets in the world," declared Stephen Cai, the CEO of China Sunergy, in his speech at the event. "We will invest in the U.S., hire people in the U.S., and serve customers in the U.S., under the CSUN brand name. Our strategy is to localize as much as possible."
China Sunergy's U.S. operations will be managed by a newly appointed U.S. CEO, Mr. Willis He, who will be based in San Francisco. Mr. He, who has over 13 years studying and working experience in the U.S., joins from MEMC Electronic Materials, a publicly listed global leader in the manufacture and sale of wafers to the solar and semi-conductor industries. As a solar sales director, Mr. He worked closely with many solar cell and module companies to develop and expand MEMC's China business. Mr. He holds a M.B.A. from Olin School of Business, Washington University in St. Louis.
"Willis will lead our local recruitment efforts, pursue bankability status with U.S. banks, investigate U.S. manufacturing and project development opportunities, and be the public face of our company in America. This is the right time and the right place for China Sunergy to enter this growing market," added Stephen Cai.
Although later to develop than Europe, solar markets in the U.S. are entering a period of rapid growth due to strong consumer demand for green energy and more financial incentives from federal and state governments and utility companies. 2010 saw installed photovoltaic capacity in the U.S. increase by over 100%. Of that total, 28% was completed in the state of California, according to a report released in June by the Interstate Renewable Energy Council.
"We are thrilled that China Sunergy has chosen San Francisco for its North American headquarters location," said Mayor Lee. "As leading Chinese businesses, such as China Sunergy, grow in the international cleantech market, San Francisco enthusiastically welcomes them."
Chairman Lu remarked, "Despite the recent ups and downs in the worldwide solar industry, we are still confident in its future development. The establishment of our U.S. branch is a demonstration of our commitment to and confidence in the U.S. market. With the hard work and efforts of our employees, China Sunergy will deliver an outstanding performance in the U.S. market."
The contact details for the new office are:
China Sunergy (US) Clean Tech Inc.
575 Market Street, 37th floor
San Francisco, CA 94105
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators, and solar power systems for use in various markets. For more information, please visit our website at http://www.chinasunergy.com.
Investor and Media Contacts: | ||
China Sunergy Co., Ltd. | ||
Elaine Li Phone: + 86 25 5276 6696 Email: Elaine.li@chinasunergy.com | ||
Brunswick Group | ||
Hong Kong Ginny Wilmerding Phone: + 852 3512 5000 Email: csun@brunswickgroup.com | Hong Kong Xiaoxiao Nina Zhan Phone: + 852 3512 5000 Email: csun@brunswickgroup.com | |
