MOUNTAIN VIEW, Calif., Oct. 26 /PRNewswire-Asia/ -- Solar EnerTech Corp. (OTC Bulletin Board: SOEN) (the "Company") today announced that SET-Solar Corp. (previously referred to as Shunda-SolarE Technologies), the Company's joint venture with Jiangsu Shunda, one of China's largest polysilicon and wafer manufacturers, will appear at the Solar Power International Conference from October 27-29, 2009 at the Anaheim Convention Center in Anaheim, California. SET-Solar Corp. will exhibit its polysilicon material, silicon ingots and wafers produced by Jiangsu Shunda and high-efficiency solar cells and high-performance solar modules produced by Solar EnerTech.
The conference is the largest business to business solar event in North America. Over 800 exhibitors and more than 25,000 attendees are expected to attend. Leo Young, the Company's President and Chief Executive Officer along with other members of senior management will be in attendance to meet with existing customers and prospective investor groups.
The high volatility of oil prices, coupled with increased concerns over rising CO2 emissions worldwide, has led to the cultivation of renewable energy projects, including advanced photovoltaic (PV) technology, in recent years. Solar EnerTech and its PV cells and module applications have benefitted from increased demand for clean energy sources worldwide.
"Our business has been propelled by the ongoing efforts and investment from European countries, and more recently by local governments and businesses in the US," said Leo Young, the Company's Chief Executive Officer. "Through our U.S. joint venture, Solar EnerTech is participating in this tradeshow to showcase new products and introduce its value-added services to all US-based B2B and B2C PV industry players."
Roland Chu, SET-Solar's Chief Executive Officer commented, "We are pleased with the growth of SET-Solar in the five months in which we have been in business. We are also pleased to have obtained the California Solar Initiative (CSI) Listing, which enables us to penetrate multiple sectors of the PV market in the U.S. Our strategy with our customers has been to move beyond simply supplying solar panels and offer a more comprehensive service solution that includes inverters and other accessories, as well as financing and leasing options. We remain encouraged with our growth opportunities in the U.S. marketplace."
Solar EnerTech/SET-Solar's showcase at the Anaheim Convention Center is exhibit space #1285.
About Solar EnerTech Corp.
Solar EnerTech is a photovoltaic ("PV") solar energy cell manufacturing enterprise incorporated in the United States with its corporate office in Mountain View, California. The Company has established a sophisticated 63,000 square foot manufacturing plant located in China, in Shanghai's Jinqiao Modern Technology Park. Currently, the Company is capable of producing 50MW of solar cells from its existing production lines.
Solar EnerTech has also established a Joint R&D Lab at Shanghai University to develop higher efficiency cells and to put the results of that research to use in its manufacturing processes. Led by one of the industry's top scientists, the Company expects its R&D program to help bring Solar EnerTech to the forefront of advanced solar technology research and production.
Safe Harbor Statement
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which are relevant as of the date of the given press release and should not be relied upon as of any subsequent date. Solar EnerTech undertakes no obligation to update publicly any forward-looking statements.
