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China Sunergy Announces Approval of N-type Cell Patent
Friday, July 13, 2007
Patent Represents China Sunergy's Unique First Step Towards Commercializing N-type Cells
Nanjing, China -- China Sunergy Co., Ltd. (Nasdaq: CSUN) , a specialized solar cell manufacturer based in Nanjing, China, announced today that it has received N-type cell patent approval from the State Intellectual Property Office of The People Republic Of China ("SIPO"). The approval covers a period of 20 years and further solidifies China Sunergy's unique position in commercializing N-type cell on top of its existing technological capabilities. China Sunergy has also submitted a patent application to SIPO for P-type selective emitter cell technology and currently expects to get the approval in 2009.
Since the commencement of its limited commercial production of selective emitter cells in early May, China Sunergy has achieved an average conversion efficiency rate of well above 17% on this type of product. This compares to the average conversion efficiency rate of 15.9% that China Sunergy achieved on monocrystalline 125-millimeter cells in the second quarter this year. China Sunergy is currently targeting to achieve more scaleable commercial production of this higher efficiency product on one of its existing six production lines during the third quarter of this year.
Mr. Tingxiu Lu, Chairman and CEO of China Sunergy, commented: ''Our strong new product pipeline, which will include P-type selective emitter cells and N- type cells, and the exciting progress in commercializing the former, is giving us confidence that we will be one of the technology leaders in the years ahead. Furthermore, this will also help us address the raw material supply tightness that the industry is experiencing at the moment."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. 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 go to http://www.chinasunergy.com/.
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, 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 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 produce new products; 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; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. 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.
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