Signing of the Sister-City Agreement of Newark, NJ, and Ningguo, Anhui Province, China, by Executive Senior Vice President of NJIT Dr. Don Sebastian Representing His Honorable Mayor Cory A. Booker and Executive Deputy Mayor Mr. Wang Pu, on November 18, 2010 4^th, 5^th, and 6^th from Right are: Head of Delegation and Economic Counselor of People’s Government of City Ningguo, Dr. Jingong Pan, NJIT Alumnus and CEO and Chairman of the Board of Apollo Solar Energy, Inc., and Professor Ken K. Chin, Ph.D., Director of Apollo CdTe Solar Energy Research Center, NJIT

Dr. Sebastian giving a talk on NJIT and sustainable renewable energy at Apollo Solar, Chengdu; attendees including personnels from Apollo and governemnt officials

Ying Wu, NJIT alumnus, founder of UT Star Com, and President of NJIT Alumni Association, Beijing Chapter, hosts a banquet in Beijing to welcome Dr. Sebastian, photo(1)

Ying Wu, NJIT alumnus, founder of UT Star Com, and President of NJIT Alumni Association, Beijing Chapter, hosts a banquet in Beijing to welcome Dr. Sebastian, photo(2)

Ying Wu with Apollo Center Director Professor Chin and Deputy Director Dr. Pan at the Banquet

During the visit to China (7/12-7/23), NJIT SVP Dr. Sebastian and Apollo Center Deputy Director Dr. Pan giving talks at Apollo Solar Energy, Inc, in Chengdu. photo(1)

During the visit to China (7/12-7/23), NJIT SVP Dr. Sebastian and Apollo Center Deputy Director Dr. Pan giving talks at Apollo Solar Energy, Inc, in Chengdu. photo(2)

During the visit to China (7/12-7/23), NJIT SVP Dr. Sebastian and Apollo Center Deputy Director Dr. Pan giving talks at Apollo Solar Energy, Inc, in Chengdu. photo(3)

During the visit to China (7/12-7/23), NJIT SVP Dr. Sebastian and Apollo Center Deputy Director Dr. Pan giving talks at Apollo Solar Energy, Inc, in Chengdu. photo(4)

During the visit to China (7/12-7/23), NJIT SVP Dr. Sebastian and Apollo Center Deputy Director Dr. Pan giving talks at Apollo Solar Energy, Inc, in Chengdu. photo(5)

 Apollo CEO Hou Renyi giving talk on Apollo’s strategic plan.

NJIT SVP Dr. Sebastian and Mayor of Ningguo signing letter of intent for coooperation in solar energy development. photo (1)

NJIT SVP Dr. Sebastian and Mayor of Ningguo signing letter of intent for coooperation in solar energy development. photo (2)

NJIT SVP Dr. Sebastian and Mayor of Ningguo signing letter of intent for coooperation in solar energy development. photo (3)

NJIT Senior Vice President Fr. Sebastian and Apollo CEO Mr. Hou signing Letter of Intent for Technological Sevice Provided by Apollo Center, NJIT, to Apollo.

Other photos 

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science & Technology Co., Ltd., is primarily involved in the production of Te-based compounds used to produce thin-film solar cells, cell modules, and solar electronic products.

The company’s products include ultra-high purity Te to manufacture radiation and infrared detectors; CdTe thin film compounds for the production of thin-film solar electric power modules; and other commercial-purity metals, such as selenium, antimony, bismuth, cadmium, and zinc for applications in various electronic material market segments comprising PV, radiation detector, and infrared detection. It markets and sells its products through direct sales to customers in North America, Japan, rest of Asia, and Europe. Apollo Solar Energy, Inc. is headquartered in Chengdu, the People’s Republic of China. >>About this news

Apollo Solar Energy, Inc. a refiner and producer of high purity tellurium, tellurium-based compounds and other metals for the solar photovoltaic industry has announced that the Company has entered into a non-binding collaboration agreement with China Energy Conservation Solar Energy Technologies, Inc. (CECS) to build scaled thin-film solar energy power stations.

According to the agreement, both parties anticipate working jointly in three ways: first, Apollo Solar intends to provide CECS with thin film solar panels, upon request, on a long-term basis, which panels the parties intend to use in the construction of scaled thin film solar power stations and photovoltaic grid-connected systems; second, the parties intend to work jointly to construct scaled film solar energy power stations; and third, CECS intends to acquire the thin film solar energy power stations that may be built independently by Apollo Solar through its separate financing and technology.

China Energy Conservation Solar Energy Technologies, Inc, the only Chinese state-owned solar energy oriented company focusing on the power conservation industry, is leading the new renewable energy industry by directing development throughout all of China. CECS has been charged with the construction and operation of scaled solar power stations in China, and is currently the largest investor and systematic operator of solar photovoltaic technology in China. CECS plans to develop and build photovoltaic power stations using its technology internationally, and also seeks opportunities to invest in valuable photovoltaic grid-connected system projects in the future. At present, CECS’s installed electric capacities are almost 1,400 MW, including solar power station construction projects that are still in the development and construction stages.

President Barack Obama announced the loan to Abound Solar, a Loveland-based company with a manufacturing facility in Longmont, during his weekly radio address Saturday.

The company, which employs 360 people in Colorado and manufactures thin film solar panels, will nearly double its employee base in the state, Abound Solar spokesman Mark Chen said.

He said it’s not yet clear exactly how the new jobs will break down between Abound Solar’s Longmont production facility, its headquarters in Loveland and its research lab in  Fort Collins.

But he said Longmont would most likely be the biggest beneficiary since the bulk of production is done in the city. The company will be able to add two production lines to the one it already has in Longmont as a result of the loan guarantee, Chen said.

“We’ll have our second manufacturing line in place by the second quarter of next year and we’ll be hiring well in advance of that,” Chen said Saturday.

The loan guarantee is part of nearly $2 billion in stimulus funds approved by the Department of Energy to Abound and Arizona-based Abengoa Solar Inc., Obama said in the address.
Read more: Obama announces $400M loan for Abound Solar’s plants in Longmont and Indiana – Boulder Daily Camera http://www.dailycamera.com/boulder-county-news/ci_15431141#ixzz10GjhbhP4
DailyCamera.com

The 2MW demo solar power station is expected to become operational in September 2010. The agreement provides for the payment of subsidies to Apollo Solar from central, provincial and local government entities in the PRC for electricity generated by the power station, as follows:

• 2.15 Yuan RMB (US $0.31) per kilowatt hour (kwh) during the first year of operation of the power station;
• 1.70 Yuan RMB (US $0.25) per kwh during the second year of operation of the power station; and
• 1.50 Yuan RMB (US $0.21) per kwh during the third and following years of operation of the power station, in accordance with the rules and regulations of the central government of China.

Apollo Solar believes that the availability of these types of subsidies could make solar power stations profitable and could attract potential investors to invest in commercial solar power stations.

“We are very pleased to sign the agreement with Ningguo Municipal Government to build the 2 MW demo solar power station, the first project of those contemplated by the non-binding letter of intent signed in April between Apollo Solar and the Ningguo Municipal Government” stated Mr. Renyi Hou, the CEO of the Company. “Apollo Solar has purchased 2 MW of thin film solar panels in the US and we expect the shipment to arrive at Ningguo City in mid- June of 2010. We then anticipate completing the installation of the 2 MW of thin film solar panels, and beginning testing of the operation, by the end of September, 2010.”

“We believe that governmental support for the solar PV industry, including Cadmium-Telluride (CdTe) thin-film solar cells, could lead to the commercialization of solar power stations. At the Mediterranean Solar Plan Conference on May 11, in Valencia, Spain, the International Energy Agency, IEA, predicted that 20-25% of total electricity supply will come from solar power stations before 2050 if governments continue current subsidy policies for the solar PV industry, though current solar power is far below 1%.” Mr. Hou commented. “Apollo Solar plans to procure high quality thin film solar panels with competitive pricing through OEM agreements which we believe will allow us to enter the downstream solar PV industry to build and operate solar power stations.”

Under the terms of his employment agreement, Mr. Liu will receive an annual base salary of $87,976 during his first year of employment, which amount will increase to $105,572 and $123,167 in the second and third years of his employment, respectively. Mr. Liu was also granted stock options to acquire up to 500,000 shares of the Company’s common stock, the first 200,000 of which will vest in equal monthly installments during his first year of employment, and the remaining 300,000 of which will vest in equal monthly installments during the second and third years of employment. The options have an exercise price equal to the fair market value of the Company’s common stock on the date of grant.

From May 2009 to May 2010, Mr. Liu, age 42, served as Chief Financial Officer of Jiangsu Sanhuan Industry & Commerce Co Ltd., a China-based environmental equipment manufacturer. From January 2004 through December 2007, Mr. Liu served as Assistant Vice President of the Audit and Compliance Department of the New York Stock Exchange (the “NYSE”), where he conducted business review and process audits of Chinese companies to ensure compliance with NYSE Equities and Options rules, corporate governance requirements, the Sarbanes-Oxley Act of 2002, and the rules and regulations of the Securities and Exchange Commission. Mr. Liu has been a Certified Public Accountant since 2005.

In connection the hiring of Mr. Liu, Ms. Xuefeng Li, our current interim Chief Financial Officer, ceased to act in such role and will continue to serve as Chief Accounting Officer of Sichuan Apollo Solar Science & Technology Co., Ltd, the Company’s wholly-owned subsidiary.

“We are very pleased to appoint Mr. Liu as Chief Financial Officer of Company,” Mr. Renyi Hou, the CEO of the Company commented. “Mr. Liu has experience working in the audit and compliance department of the NYSE, and we expect that he will play a leading role in our corporate governance and fundraising endeavors in the future, as well as help promote the Company’s management team to a new level.”

“I’m also very pleased to take the position of Chief Financial Officer of Apollo,” Mr. Wilson Liu commented. “I feel it is both my honor and my duty to help direct the new renewable energy industry in China, as I believe that solar is the future of renewable energy. I selected Apollo as a strategic partner for my career development because I believe that Apollo will be a pioneer in the thin film solar PV sector. I look forward to a long-term and cooperative relationship with the Company.”

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 refining and producing tellurium (Te) and high-purity tellurium based metals for specific segments of the electronic materials market. The Company’s products include CdTe thin-film compounds, CIGS 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 expectation that Mr. Liu will play a leading role in our corporate governance and fund raising endeavors in the future 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.

Mr.
Jack Lifton is an independent consultant, with more than 48 year’s experience, in the sourcing of those minor metals for which he originally coined the phrase “the Technology Metals.” Educated as a physical chemist and metallurgist, his work includes original research into the properties of most of the rare metals used in alternative energy technologies. He now covers the exploration for, and the mining, refining and recycling of a spectrum of nonferrous metals, including lithium, tellurium, selenium, indium, gallium and the rare earth metals.

Mr.
Jack Lifton consults, writes, and lectures around the world. His clients include companies in the global OEM automotive, heavy equipment, electrical and electronic, mining, smelting and refining industries. He has a wealth of knowledge in locating and analyzing new and recycled supplies of technology metals. Today, Mr. Lifton primarily consults to institutional investors doing due diligence on metal-related opportunities for green technologies.

Based upon the consulting agreement, Mr.
Jack Lifton will provide consulting services to Apollo, including but not limited to, the following: (i) organizing a technical and business advisory board that consist of top worldwide experts in the field of high purity metals that have strategic and critical applications in alternative energy, electronic materials and other high technologies; (ii) assisting Apollo’s marketing team with selling its high purity metals, including tellurium, in the United States and other major industrial countries; (iii) introducing Apollo to institutional investors and accredited investors.

“We are very pleased to engage Mr.
Jack Lifton as Chief Technical and Business Advisor of the Company,” Mr.
Renyi Hou, CEO of the Company commented. “Mr. Lifton has 48 years experience in the sourcing of ‘Technology Metals’ that play a significant role in innovation of green energy, electronic materials and other high technology industry. We expect that Mr. Lifton’s experience and network in the field will assist Apollo’s management and marketing effort to a new level.”

“I’m also very pleased to take the position of Chief Technical and Business Advisor of Apollo,” Mr.
Jack Lifton commented. “Apollo’s innovative technologies and manufacturing skills in producing high and ultra-high purity technology metals in large quantities for the mass production of green technologies in particular and for electronic in general are unsurpassed. Therefore it is to Apollo that the high tech industry will now turn for the first step on the green road to the future.”

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, CIGS thin-film compounds, ultra- high purity metals and commercial-purity metals.
Apollo Solar also expects to be a leading constructor and operator in future government-funded solar power station projects in China, including possible 10 GW solar power stations in Anhui province, China.

Safe Harbour 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 it will supply thin film solar panels to CECS and joint construction of thin scaled solar energy power stations with CECS 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.

For more information, please contact: Company: Dr. Jingong Pan, VP of IR Email: drpan27@gmail.com Tel: +1-732-261-2099 Investor Relations: John Campo, IR consultant Wall Street International Email: campojb@yahoo.com Phone: +1-410-236-8200

SOURCE Apollo Solar Energy, Inc.
 

Source: PR Newswire