• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

China Sunergy and Canadian Firm Opsun Technologies Sign Solar Products Framework Agreement

Posted on: Friday, 23 October 2009, 07:30 CDT

NANJING, China, Oct. 23 /PRNewswire-Asia/ -- China Sunergy Co., Ltd (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, and Opsun Technologies, Inc., a Canadian manufacturer of solar panels, mounting systems and solar concentrators ("Opsun"), have entered into a framework agreement related to the delivery of China Sunergy solar products to Opsun between 2009 and 2014.

The framework agreement aims to leverage the existing relationship between the firms to facilitate sales of China Sunergy's existing solar cell products while enhancing the development of specialized solar cells for future projects. The agreement encompasses the delivery of 100MW of solar cells and solar modules to Opsun, with the solar modules being provided through OEM arrangements.

Opsun will integrate China Sunergy's advanced solar cell technology into their PV Panel, Structural PV modules and 3X Concentrated modules, sales of which will initially be focused in the Canadian provinces of Ontario and Quebec as well as the north-eastern United States. As part of the developmental aspect of the agreement, China Sunergy will enhance existing solar cell technology based on Opsun's specifications, allowing the delivery of specialized solar products directly to Opsun. These solar products will be incorporated into Opsun's advanced '3 Suns' photovoltaic concentrator systems, demonstrating China Sunergy's ability to deliver customized solutions to clients.

"The relationship with Opsun has already proven to be a valuable one for China Sunergy, and we look forward to deepening our cooperation by working together to develop advanced solar products in the coming years," stated Mr. Allen Wang, Director and Chief Executive Officer of China Sunergy. "Opsun is an innovative company offering unique and dynamic products, and we anticipate our relationship leading to continued success at the front-line of the Canadian solar sector."

Raymond Gilbert, Opsun's Chairman, commented, "Opsun is delighted to have strengthened our partnership with China Sunergy, a well-known player in the photovoltaic field and a leading solar cell producer. As Opsun integrates CSUN's components into our new product lines, we will be in a stronger position to rapidly become a significant player in North America's fast growing photovoltaic market."

About China Sunergy Co., Ltd.:

China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy") is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .

About Opsun Technologies, Inc.:

Opsun aims to develop and manufacture a line of solar products that minimizes the total cost of solar systems by increasing efficiency, reducing material costs and facilitating installation on rooftops and solar farms. Founded in 2005, Opsun Technologies is composed of a team of PhDs, Masters in Science, engineers and technical people. Opsun's management team has more than 35 years of experience in service, manufacturing and energy corporations. Opsun's line of products, which has been developed to be installed in cold climates with snow and ice rain, features unique and innovative patented technologies and concepts. Opsun is participating in the Ontario Feed-In Tariff program.

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. These forward-looking statements and are based on current expectations, assumptions, estimates and projections about the company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, the company's ability to raise additional capital to finance the company's activities; the effectiveness, profitability, and the marketability of its products; the economic slowdown in China and elsewhere and its impact on the company's operations; demand for and selling prices of the company's products, the future trading of the common stock of the company; the ability of the company to operate as a public company; the period of time for which its current liquidity will enable the company to fund its operations; the company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; future shortage or availability of the supply of raw materials; impact on cost-competitiveness as a result of entering into long-term arrangements with raw material suppliers and other risks detailed in the company's filings with the Securities and Exchange Commission. 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

SOURCE China Sunergy Co., Ltd

Source: PR Newswire

More News in this Category