CHANGZHOU, China, June 1 /PRNewswire-Asia/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced its research agreement with the Solar Energy Research Institute of Singapore ("SERIS") to develop an all-back-contact high-efficiency silicon wafer solar cell using Trina Solar's monocrystalline wafers.
Trina Solar will engage SERIS to provide research and development services to develop a high efficiency crystalline solar cell by printing contacts on the cell's rear to increase front surface exposure to sunlight. The Company targets to realize up to 21.5% production efficiency, and up to 23.5% laboratory test efficiency, with project completion within three years following commencement in June 2010. In exchange for the project's intellectual property rights, Trina Solar will cover the cost of the research project.
"We are pleased to collaborate with SERIS, Singapore's national institute for applied solar energy research, to develop and embark on this innovative cell process technology," said Dr. Huang Qiang, Trina Solar's Vice President of Technology. "We are confident that the combination of our leading manufacturing capabilities with high-quality research from SERIS, will lead to further increases in the efficiency of our crystalline silicon solar cells, which we plan to integrate into our production lines by 2013."
"We are excited to have this opportunity to work with Trina Solar in the development phase of this advanced solar cell technology. We expect the technology to be transferred to the production line and ready for commercial production within the next three years," said Prof Armin Aberle, Cluster Director "Silicon Photovoltaics" at SERIS.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd., is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since its foundation in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
About SERIS
SERIS is Singapore's national institute for applied solar energy research. SERIS conducts industry-oriented research and development as well as use-inspired basic research in the field of solar energy conversion. The institute collaborates closely with industry. The mission of SERIS is to conduct research and development for a sustainable energy supply based on solar resources. We focus on the development of materials, components, processes and systems for photovoltaic electricity generation and energy efficient buildings. SERIS is globally active but will focus on technologies and services for tropical regions, in particular for Singapore and South-East Asia. For further information, please visit SERIS's website at http://www.seris.nus.edu.sg/ .
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; the volatility of the Company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
For further information, please contact:
Trina Solar Limited
Terry Wang, CFO
Phone: +86-519-8548-2009 (Changzhou)
Thomas Young, Senior Director of Investor Relations
Phone: +86-519-8548-2009 (Changzhou)
Email: ir@trinasolar.com
Brunswick Group
Caroline Jinqing Cai
Phone: +86-10-6566-2256
Michael Fuchs
Phone: +86-10-6566-2256
Email: trina@brunswickgroup.com
