May 11 2010
Apollo Solar Energy, Inc. (OTC Bulletin Board: ASOE) ("Apollo Solar" or "the Company"), a leading vertically integrated miner, refiner and producer of high purity tellurium (Te) and tellurium-based metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, in the People's Republic of China, today announced the Company has filed a Form 8K, disclosing a slide presentation that Apollo Solar expects to use at future investor conferences, such as the China Rising Investment Conference on May 17, 2010 in New York.
In the slide presentation, Apollo Solar discusses its current long-term corporate mission, and expected strategy for the next five years. The long-term corporate mission of Apollo Solar is to develop technologies and materials that can produce CdTe thin film solar panels with higher efficiency and cheaper costs, which the Company believes will make CdTe thin film solar power stations competitive with other commercial power stations. If these developments are successful, Apollo Solar expects to become a major supplier of tellurium (Te) and tellurium-based compounds to companies throughout the world.
Apollo Solar also plans to expand its business in the downstream solar photovoltaic (PV) industry, by acquiring thin film solar panels through OEM business partnerships with existing thin film solar panel manufacturers, for its anticipated solar energy farm project with the Ningguo City government, Anhui Province, China. As Apollo Solar previously disclosed, it entered into a non-binding Letter of Intent with the Ningguo City government pursuant to which Apollo Solar may have an opportunity to build a 10 GW grid-connected solar power station within the next -six to eight years.
"It is our corporate mission to use clean, renewable solar energy sources that we believe will protect the Earth through the restriction of carbon emissions," stated Mr. Renyi Hou, CEO of the Company. "We also believe that governmental support for the solar PV industry, including Cadmium-Telluride (CdTe) thin-film solar cells, will lead to higher volume wholesale production. As a high-purity Te supplier, Apollo Solar expects to provide material and technology that will improve CdTe thin film PV efficiency and economics.
"By cooperating with other solar photovoltaic cell producers through OEM agreements, we expect to take advantage of our exclusive source of high purity Te, CdTe, and other related photovoltaic materials, to manufacture more effective and economical solar photovoltaic cells that could be used to build a future solar energy farm," Mr. Renyi Hou noted.