DuPont and Yingli Green Energy Sign Expanded Strategic Agreement
Key Collaboration to Spur Further Adoption of Solar to Meet Growing Energy Demands
BAODING, China (PRWEB) June 05, 2013
DuPont and Yingli Energy (China) Company Limited (Yingli China), a wholly owned subsidiary of Yingli Green Energy Holding Company Limited (Yingli Green Energy), have signed a new one year, $100 million strategic agreement that includes the supply of advanced solar materials, the installation of a solar power plant and co-marketing initiatives aimed at accelerating the broader and faster adoption of solar energy to address the world´s growing energy needs. This agreement is an expansion of a $100 million supply agreement between the companies announced in February 2012.
“Materials are critical to help ensure our solar panels provide superior power output for their 25-year expected lifetime, or longer,” said Liansheng Miao, chairman and chief executive officer, Yingli Green Energy. “The agreement we have signed with DuPont assures our supply of high-quality materials that have proven performance and our continued collaboration on further technological advances to optimize the efficiency and durability of our products. Yingli Green Energy has long been committed to making solar affordable for everyone with superior quality products.”
Under the terms of the agreement, Yingli China will purchase materials including DuPont Solamet® photovoltaic metallization pastes that help boost the power output of solar cells and DuPont Tedlar® polyvinyl fluoride film that has been proven to protect solar panels even in the harshest environmental conditions. The companies also will extend their collaboration to include the installation of a solar energy plant at a DuPont facility in China using panels made with advanced materials from DuPont, and will potentially expand installation of similar plants to additional DuPont sites or other commercial projects in China. Yingli China and DuPont further agreed to extend their collaboration on technology to develop the next generation of high-efficiency solar cells and modules, and on co-marketing activities.
“This agreement further expands our strategic relationship, and we look forward to working even more closely with Yingli to deliver superior quality solar panels that will continue to accelerate the adoption of solar energy to meet the growing global demand for energy,” said David B. Miller, president, DuPont Electronics and Communications.
Yingli Green Energy Holding Company Limited, which markets its products under the brand “Yingli Solar,” is a leading solar energy company and one of the world´s largest vertically integrated photovoltaic manufacturers. Yingli Green Energy´s manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. For more information, please visit http://www.yinglisolar.com.
DuPont Solamet® photovoltaic metallizations and Tedlar® polyvinyl fluoride films are part of a broad and growing portfolio of products represented by DuPont Photovoltaic Solutions, which connects science and technology from across the company on a global scale to help support the dramatic growth in the photovoltaic industry. To learn more about DuPont Photovoltaic Solutions, visit http://photovoltaics.dupont.com.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
Forward-Looking Statements: This news release contains forward-looking statements based on management’s current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
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