ONTARIO, Canada, Nov. 11, 2010 /PRNewswire-Asia-FirstCall/ -- Canadian Solar, Inc. (Nasdaq: CSIQ), one of the world's largest solar companies and a sponsor of the ZERO Race, announces the arrival of the ZERO Race's electric vehicles in Vancouver on November 12, 2010 to begin the North American leg of their global journey. The vehicles, which have already crossed Russia, Kazakhstan and China, will continue their journey from Vancouver and down along the USA's western coastline.
Sponsored by Canadian Solar Inc., the first Zero Race in history was created by Louis Palmer, the first man to drive a solar-powered vehicle around the world. Palmer adapted Jules Verne's vision of global circumnavigation in 80 days to reflect 21st century technology and environmental awareness by restricting race entrants to emission-free vehicles. The race began on August 16, 2010, at the United Nations Palace in Geneva, Switzerland, and has covered more than 16,000 kilometers to date. Three participating teams from three continents are driving 500 kilometers each day in 100 percent electric vehicles powered solely by renewable energy technologies.
"The ZERO Race draws attention to two major challenges facing society today -- securing an efficient, environmentally friendly energy supply, and developing minimum-impact, reliable modes of transportation," said Dr. Shawn Qu, CEO and chairman of Canadian Solar, Inc. "As a company whose products and values are rooted in highly efficient, high-quality renewable energy technology, we are pleased to support a project demonstrating an emission-free future is possible."
The ZERO race represents a major milestone in the history of electric vehicles. "The purpose of the race is to show that zero-emission vehicles running on renewable energies are already available and reliable," said Louis Palmer, ZERO race organizer. "With shrinking resources and the impacts of global climate change, the ZERO Race strives to present solutions for a better, greener future."
The ZERO Race is scheduled to finish in Geneva in January 2011. In the meantime, the vehicles will be driving down the West Coast of North America, ending in Cancun, Mexico, on December 5 in time to attend the World Climate Change Conference.
San Francisco, CA
The vehicles will be at the Crissy Field parking lot next to the St. Francis Yacht Club from 3:30 to 4:30 p.m. on Tuesday November 16, 2010.
Key Dates in North America
For more information about the ZERO Race, please visit: www.zero-race.com/.
About Canadian Solar Inc. (NASDAQ: CSIQ)
Canadian Solar Inc. is one of the world's largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements:
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the risks regarding the previously disclosed SEC and internal investigations as well as general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Germany; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on August 19, 2010. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
SOURCE Canadian Solar Inc.