Solar EnerTech Completes Second Solar Cell Production Line
October 27 2008 - 7:59AM
PR Newswire (US)
MENLO PARK, Calif., Oct. 27 /Xinhua-PRNewswire-FirstCall/ -- Solar
EnerTech Corp. (OTC:SOEN) (BULLETIN BOARD: SOEN) (the "Company")
today announced that the Company recently completed the build out
of its second solar cell production line. The new 25 MW solar cell
production line is located at the Company's solar cell
manufacturing facility in Shanghai and the addition of this new
line doubles the company's solar cell production capacity from 25MW
to 50MW. "The completion of this second line is a great
accomplishment for our company and we are pleased to have finished
production two months ahead of schedule," commented Leo Young,
Chief Executive Officer of Solar EnerTech. "Our business
development team is working diligently to secure new orders so that
we can utilize our second line to the fullest extent possible. We
now have the ability to support dual-line production which provides
us with the potential to increase our product orders and broaden
our base of customers from Europe, North America and Asia. We are
moving forward with our strategic plan and believe we are well
positioned for continued growth ahead." About Solar EnerTech Corp.
Solar EnerTech is a photovoltaic ("PV") solar energy cell
manufacturing enterprise based in Shanghai, China, where the
Company has established a sophisticated 63,000 square foot
manufacturing plant in Shanghai's Jinqiao Modern Technology Park.
The Company has two 25MW solar cell production lines as well as a
50MW solar module production facility. 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. The Company has also established a
marketing, purchasing and distribution arm in Northern California's
Silicon Valley. 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.
For further information, please contact Investor Relations Bill
Zima ICR Inc. Tel: +1-203-682-8200 DATASOURCE: Solar EnerTech Corp.
CONTACT: Bill Zima of ICR Inc., +1-203-682-8200 (Investor
Relations), for Solar EnerTech
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