Worldwide Energy and Manufacturing Announces Approximately $38M to Date in Solar Division Contracts
Worldwide Energy and Manufacturing USA, Inc. (OTCBB: WEMU), a U.S.-based China manufacturing company specializing in products for customers in the industries of solar energy, aerospace, wireless telecommunications, medical equipment and automotive, today announced that its solar division, AmeriSolar, has signed solar module contracts for new orders valued at approximately $8.2 million. The company expects all contracts to be filled and recorded in the 2008 calendar year. These orders demonstrate Worldwide’s successful implementation into the renewable energy market.
Worldwide Energy’s Chief Executive Officer Jimmy Wang, stated: “We are pleased by the continued demand for solar modules contracts which is demonstrated by the continued strong demand in our energy division. The worldwide need for alternative energy sources will continue to drive our growth. Our solar energy resources, our Fortune 500 customer base and our aggressive sales team, combined with our recent $4.75 million funding, gives our company tremendous momentum. We are aggressively continuing to grow our solar module market share.”
The global solar market is estimated at $30 billion in revenues for 2007, according to Photon Consulting, and solar energy continues to be one of the fastest growing sectors within the clean-tech industry with a recent 40% annual growth rate and an expected 40% continued growth rate in the next few years. Worldwide Energy is becoming one of the fastest growing companies in the clean-tech solar industry.
About Worldwide Energy and Manufacturing USA, Inc.
Worldwide Energy and Manufacturing USA, Inc. (“Worldwide”), headquartered in South San Francisco, California, is a 14-year-old engineering-oriented firm specializing in PV panel, mechanical, electronics and fiber optic products manufacturing. The company’s worldwide customer base includes the industries of solar energy, wireless telecommunications, aerospace, automobiles and medical equipment. Subsidiaries include Shanghai Intech Electro Mechanical Products Co. Ltd., Shanghai Intech Electronics Manufacturing Co. Ltd. and Shanghai Intech Precision Mechanical Products Manufacturing Co. Ltd., located in Shanghai, China.
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The above news release contains forward-looking statements. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of business risks, external factors and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.
Contact: At the company: Worldwide Energy and Manufacturing USA, Inc. Jimmy Wang 650-794-9888, Ext. 221 firstname.lastname@example.org://www.wwmusa.com Investor relations: Dave Gentry RedChip Companies, Inc. 1-800-REDCHIP (733-2447), Ext. 104 Dave@redchip.comhttp://www.RedChip.com
SOURCE: Worldwide Energy & Manufacturing USA, Inc.