BAODING, China and SUNNYVALE, Calif., July 26 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which holds the brand "Yingli Solar," today announced that it has signed a technology, research and production collaboration agreement with Innovalight, Inc. ("Innovalight"), a privately-held firm selling a platform of silicon ink-based high efficiency solar cell materials and technology. By collaborating with Innovalight, Yingli Green Energy expects to raise the average efficiency of the multicrystalline cells produced on its commercial production lines.
"We are glad to sign this agreement with Innovalight," said Dr. Dengyuan Song, Chief Technology Officer of Yingli Green Energy. "We believe strong research and development capabilities are critical to strengthen our industry leadership, and we have recently launched a series of innovation initiatives. Our collaboration with Innovalight once again re-affirms our commitment to technology advancement and allows us to bring the benefits of cutting-edge technologies to our valued customers."
"We are delighted to have Yingli Green Energy as our customer and partner," said Conrad Burke, Chief Executive Officer of Innovalight. "Innovalight's silicon ink technology is a powerful platform to incorporate in the production of high efficiency solar products. Our collaboration with one of the largest vertically integrated solar product manufacturers in the world today is very exciting," he added.
Innovalight manufactures a proprietary nanotechnology-based silicon ink and licenses a proprietary platform process which allows a simple upgrade to solar cell manufacturing production lines to boost performance of solar cells and lower production costs.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which holds the brand "Yingli Solar", is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Currently, Yingli Green Energy maintains a balanced production capacity of over 600 MW per year. Two capacity expansion projects of 300 MW and 100 MW located in Baoding and Hainan, respectively, have started initial production in early July 2010, and are expected to bring the total nameplate capacity of Yingli Green Energy to 1 GW by the end of third quarter 2010. In addition, Yingli Green Energy's in-house polysilicon plant, Fine Silicon, which has a designed annual production capacity of 3,000 metric tons, is at the final stage of the segment trial process, and is expected to start fully integrated production from mid-2010. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 7,000 employees and more than 10 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit http://www.yinglisolar.com
Innovalight is based in Sunnyvale, California. The company manufactures silicon ink and licenses a proprietary process technology to solar cell manufacturing companies. Innovalight is venture capital backed and has received additional development funds from the U.S. Dept. of Energy. For more information, visit http://www.innovalight.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward- looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For more information, please contact: For Yingli Green Energy: In China: Qing Miao Director, Investor Relations Yingli Green Energy Holding Company Limited Tel: +86-312-3100502 Email: [email protected] In the Americas: Judy Tzeng Lee Director of Corporate Development Yingli Green Energy Holding Company Limited Phone: +1-510-847-3920 Email: [email protected] In Europe: Rebecca Jarschel Brand Manager Yingli Green Energy Europe GmbH Tel: +49-89-540303412 Email: [email protected] For Innovalight: Tim Turpin SparkPR Tel: +1-415-321-1894 Email: [email protected]
SOURCE Yingli Green Energy Holding Company Limited