MOUNTAIN VIEW, Calif.,
May 13 /PRNewswire-Asia-FirstCall/ --
Solar EnerTech Corporation (OTC Bulletin Board: SOEN) ("Solar
EnerTech" or the "Company"), a leading manufacturer of photovoltaic
solar energy cells with its corporate office in Mountain View, California and with its
manufacturing facility at Jinqiao Modern Technology Park in
Shanghai, announced today that it
has retained CCG Investor Relations to design and execute its
investor relations campaign.
"We look forward to working with CCG to establish a more
effective and transparent communications channel with the global
investment community," said Mr. Leo
Young, Chief Executive Officer of Solar EnerTech. "By
leveraging CCG's international platform, extensive investor network
and expertise, we are committed to active and transparent
communications in order to raise our profile and improve investors'
understanding of our business strategy and investment outlook. We
expect to benefit from the strong overseas demand of our
high-quality superior products to advance the SolarE brand name in
the marketplace. We're also well-positioned to expand our market
share with a shift in strategy to deliver superior products and
services to our customers. We will work diligently to reach our
goals of expanding our distribution coverage overseas to become the
market leader in the global photovoltaic business"
Solar EnerTech is a fast-growing manufacturer of high quality
photovoltaic solar energy cells, modules, and state-of-the-art
solar applications. For the year ended September 30, 2009 Solar EnerTech's sales
increased 12% year-over-year to $32.8
million, and diluted EPS improved to ($0.16) from ($0.18) a year ago. The increase in sales was
driven by increases in module shipments to 10.5 Mega-watts (MW)
during fiscal 2009, up from 6.67MW in fiscal 2008, which was
partially offset by a 25% yearly decrease in average selling price
to $3.07 per Watt in fiscal 2009,
down from $4.10 in fiscal 2008.
"We are excited to be working with a client with superior
industry knowledge, high-margin quality products, and extensive
global reach," said Crocker Coulson, President of CCG. "Solar
EnerTech has broad global coverage and they have been recognized as
a distinguished manufacturer among customers in Europe and Australia. The Company differentiates itself
from industry peers with their shift in strategy to capture a
higher percentage of industry growth and their expanding customer
base. We are confident that Solar EnerTech will continue to deliver
quality products and maintain effective communications with
investors."
About Solar EnerTech Corp
Solar EnerTech is a photovoltaic solar energy cell manufacturing
enterprise incorporated in the United
States with its corporate office in Mountain View, California. The Company has
established a sophisticated 67,107-square-foot manufacturing
facility at Jinqiao Modern Technology Park in Shanghai, China. The Company currently has two
25MW solar cell production lines and 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.
About CCG Investor Relations
CCG is a leading global investor relations and strategic
communications consulting firm. In business for more than 30 years,
the agency provides a complete range of investor communications,
counseling, and IT and data solutions through our global network to
over 300 clients across multiple capital markets. CCG has been
awarded a number of industry honors for its handling of complex
investor relations and crisis communications matters. The agency's
corporate headquarters is in Los
Angeles with additional offices in New York, Beijing, Shanghai, Hong
Kong, Frankfurt,
Sao Paulo and Tel Aviv. For further information, contact CCG
directly, or visit the Company's web sites at http://www.ccgir.com
and http://www.ccgirasia.com .
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
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 more information, please contact:
CCG Investor Relations Inc.
Pierre Maccagno, Account Manager
Phone: +1-646-833-3422
Email: pierre.maccagno@ccgir.com
Mr. Crocker Coulson, President
Phone: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE Solar EnerTech Corp