Solar EnerTech Retains CCG Investor Relations

MOUNTAIN VIEW, Calif., May 13 /PRNewswire-Asia-FirstCall/ -- Solar EnerTech Corporation (OTC Bulletin Board: SOEN) ("Solar EnerTech" or the "Company"), a leading manufacturer of photovoltaic solar energy cells with its corporate office in Mountain View, California and with its manufacturing facility at Jinqiao Modern Technology Park in Shanghai, announced today that it has retained CCG Investor Relations to design and execute its investor relations campaign.

"We look forward to working with CCG to establish a more effective and transparent communications channel with the global investment community," said Mr. Leo Young, Chief Executive Officer of Solar EnerTech. "By leveraging CCG's international platform, extensive investor network and expertise, we are committed to active and transparent communications in order to raise our profile and improve investors' understanding of our business strategy and investment outlook. We expect to benefit from the strong overseas demand of our high-quality superior products to advance the SolarE brand name in the marketplace. We're also well-positioned to expand our market share with a shift in strategy to deliver superior products and services to our customers. We will work diligently to reach our goals of expanding our distribution coverage overseas to become the market leader in the global photovoltaic business"

Solar EnerTech is a fast-growing manufacturer of high quality photovoltaic solar energy cells, modules, and state-of-the-art solar applications. For the year ended September 30, 2009 Solar EnerTech's sales increased 12% year-over-year to $32.8 million, and diluted EPS improved to ($0.16) from ($0.18) a year ago. The increase in sales was driven by increases in module shipments to 10.5 Mega-watts (MW) during fiscal 2009, up from 6.67MW in fiscal 2008, which was partially offset by a 25% yearly decrease in average selling price to $3.07 per Watt in fiscal 2009, down from $4.10 in fiscal 2008.

"We are excited to be working with a client with superior industry knowledge, high-margin quality products, and extensive global reach," said Crocker Coulson, President of CCG. "Solar EnerTech has broad global coverage and they have been recognized as a distinguished manufacturer among customers in Europe and Australia. The Company differentiates itself from industry peers with their shift in strategy to capture a higher percentage of industry growth and their expanding customer base. We are confident that Solar EnerTech will continue to deliver quality products and maintain effective communications with investors."

About Solar EnerTech Corp

Solar EnerTech is a photovoltaic solar energy cell manufacturing enterprise incorporated in the United States with its corporate office in Mountain View, California. The Company has established a sophisticated 67,107-square-foot manufacturing facility at Jinqiao Modern Technology Park in Shanghai, China. The Company currently has two 25MW solar cell production lines and a 50MW solar module production facility.

Solar EnerTech has also established a Joint R&D Lab at Shanghai University to develop higher efficiency cells and to put the results of that research to use in its manufacturing processes. Led by one of the industry's top scientists, the Company expects its R&D program to help bring Solar EnerTech to the forefront of advanced solar technology research and production.

About CCG Investor Relations

CCG is a leading global investor relations and strategic communications consulting firm. In business for more than 30 years, the agency provides a complete range of investor communications, counseling, and IT and data solutions through our global network to over 300 clients across multiple capital markets. CCG has been awarded a number of industry honors for its handling of complex investor relations and crisis communications matters. The agency's corporate headquarters is in Los Angeles with additional offices in New York, Beijing, Shanghai, Hong Kong, Frankfurt, Sao Paulo and Tel Aviv. For further information, contact CCG directly, or visit the Company's web sites at http://www.ccgir.com and http://www.ccgirasia.com .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which are relevant as of the date of the given press release and should not be relied upon as of any subsequent date. Solar EnerTech undertakes no obligation to update publicly any forward-looking statements.

    For more information, please contact:

    CCG Investor Relations Inc.
     Pierre Maccagno, Account Manager
     Phone: +1-646-833-3422
     Email: [email protected]

     Mr. Crocker Coulson, President
     Phone: +1-646-213-1915
     Email: [email protected]
     Web:   http://www.ccgirasia.com

SOURCE Solar EnerTech Corp