CHENGDU, China, April 29, 2011 /PR Newswire-Asia-First Call/ -- Apollo Solar Energy, Inc. (OTCBB: ASOE) ("Apollo Solar" or "the Company"), a leading vertically integrated refiner and producer of high purity tellurium (Te), tellurium-based compounds and other metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, today announced that Mr. Harry Reid, majority leader of the United States Senate, along with 9 other United States Senators, visited the Company's manufacturing facilities in Chengdu on April 25, 2011. Never before has such a large congressional delegation visited Southwest China.
Senator Harry Reid and 9 other United States Senators, including Senator Richard Shelby (R-AL), Senator Barbara Boxer (D-CA), Senator Richard Durbin (D-IL), Senator Michael Enzi (R-WY), Senator Charles Schumer (D-NY), Senator Frank Lautenberg (D-NJ), Senator John Isakson (R-GA), Senator Jeff Merkley (D-OR), Senator Michael Bennet (D-CO), who were accompanied by US embassy officers, US Chengdu general consulate officers, and local governmental officers, visited Apollo's manufacturing facilities in Chengdu. The delegation had productive conversations with Apollo's new management team. Dr. Jingong Pan, CEO of the Company, reported the Company's recent progress in the areas of marketing and research and development. The Senate delegation was impressed by the company's unique advantages and ambitious plans in the solar energy field, and that the company expects to be the best core advanced material supplier for the CdTe thin film PV panels industry.
"The relationship between the United States and China is important for our two nations, but it is also important for the world," Senator Reid was quoted as saying on his website. "How the United States and China work together on commerce, currency and clean energy will help determine the future health of the global economy. I thank China's leaders for meeting with us to discuss these important issues." To learn more about this Senators delegation visit to Chengdu, please see: http://chengdu.usembassy-china.org.cn/codel201104.html
"We believe that the US Senate delegation's visit to our Company shows our leading position in the CdTe thin film PV industry. This industry expects tremendous growth in 2011 and beyond. Following First Solar's large commercial success, Abound Solar received a $400 million guarantee loan from the US Department of Energy last year, and GE announced a $600 million investment in Prime Star Solar in April 2011." Dr. Jingong Pan further stated: "We believe demand for our core products will increase dramatically when Abound Solar and Prime Star Solar commence CdTe thin film panel manufacturing. We also believe that Apollo's intensive research and unique processing of core materials will help our clients improve their efficiencies and cost competitiveness."
About Apollo Solar Energy, Inc.
Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science and Technology Co., Ltd, is primarily engaged in mining, refining and producing high purity tellurium (Te), tellurium-based compounds and other metals for thin film solar PV industry as well as for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, ultra- high purity metals and commercial-purity metals.
Safe Harbor Statement
The statements contained in this press release that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, the statements regarding the Company's expected growth of the CdTe thin film PV industry in 2011, the expected demand for the Company's products, and the ability of the Company's research and unique processing of core materials to help its clients improve their efficiencies and cost competitiveness are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including but not limited to, general economic conditions and regulatory developments, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements. The forward-looking statements are made only as of the date of this press release, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance.
SOURCE Apollo Solar Energy, Inc.