CHENGDU, China, April 14, 2011 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTCBB: ASOE) ("Apollo" or "the Company"), a 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 Professor Ken Chin, director of the Apollo-NJIT Solar Energy Research Center, filed a US patent application titled "CdTe Solar Panel Processing Technology based on Cd Vacancy Theory" (application number 61/357,058).
"Despite its commercial success, CdTe photovoltaic is still often called a 'mystery'. While many critical processing steps in current CdTe solar panel manufacturing were developed empirically through the years, their mechanisms remain controversial and not well-known. Our new invention, however, is based on fundamental understanding of the CdTe solar cell's materials, structure, and device physics," Dr. Jingong Pan, CEO of Apollo, stated. "We believe that our new invention may lead to a significant improvement in energy conversion efficiency and reduction of production cost of CdTe thin film panels. As a result, we believe that our invention may significantly promote the development of the CdTe thin film PV industry, and increase market share for our products worldwide."
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 and for specific segments of the electronic materials market worldwide. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra- high purity metals and commercial-purity metals.
About Apollo-NJIT Solar Energy Research Center
NJIT - New Jersey Institute of Technology, a state university in New Jersey, is best known for solar physics, advanced engineered particulate materials, nanotechnology, neural engineering and e-learning. The Apollo-NJIT Solar Energy Research Center is funded by Apollo through a three-year, $1.5 million, sponsorship that brings together the unique researching skills of NJIT and the innovative spirit of 'Apollo's research and development team to explore the future of the solar energy industrial applications of CdTe. In connection with this sponsorship arrangement, Apollo received first refusal and exclusive rights to use all patents filed by the Apollo-NJIT Solar Energy Research Center.
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 expectation that its new invention may lead to a significant improvement in product quality marked by energy conversion efficiency and reduction of production cost of CdTe thin film panels, that its new invention will significantly promote the development of the CdTe thin film PV industry, and the resulting impact on the worldwide demand for its products', 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.
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SOURCE Apollo Solar Energy, Inc.