ReneSola Improves Cell Efficiency with New 'Virtus Wafer'

2011-01-14 19:22 1315

JIASHAN, China, Jan. 14, 2011 /PRNewswire-Asia/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading global manufacturer of solar wafers and provider of solar modules, today announced that it has developed a new multicrystalline wafer, the Virtus Wafer, which improves solar cell efficiency.  

The Virtus Wafer, which has been endorsed by several leading global solar cell manufacturers, achieves an average cell conversion efficiency rate of 17.5%, more than 1% higher than the industry-standard cell conversion efficiency rate for cells using multicrystalline wafers. ReneSola intends to commence pilot production of the Virtus Wafer in the first half of 2011.

Mr. Xianshou Li, ReneSola's chief executive officer, commented, "We are excited about our new Virtus Wafer, which is the direct result of our team's technological innovation and hard work. The Virtus Wafer is remarkable in that it's able to produce a conversion efficiency rate close to that of a monocrystalline wafer while maintaining the relatively low production cost of a multicrystalline wafer. We will continue to engage in R&D initiatives to stay at the forefront of solar technology and deliver high-quality, cost-effective solar wafers to leading energy companies across the globe."

About ReneSola

ReneSola is a leading global manufacturer of solar wafers and producer of solar power products based in China. Capitalizing on proprietary technologies, economies of scale, low-cost production capabilities and technological innovations and know-how, ReneSola leverages its in-house virgin polysilicon and solar cell and module production capabilities to provide its customers with high-quality, cost-competitive solar wafer products and OEM services. The Company possesses a global network of suppliers and customers that includes some of the leading global manufacturers of solar cells and modules. ReneSola's shares are traded on the New York Stock Exchange (NYSE: SOL).

Safe Harbor Statement

This press release contains statements that constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company's expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. The Company undertakes 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 the Company's situation may change in the future.

For investor and media inquiries, please contact:





In China:





Ms. Feng Qi
ReneSola Ltd
Tel: +86-573-8477-3903





Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-8520-6284





In the United States:





Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989



Source: ReneSola Ltd
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