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CHENGDU, China, Nov. 21 /PRNewswire-FirstCall/ -- Apollo Solar Energy,
Inc. (OTC Bulletin Board: ASOE; "Apollo Solar Energy" or "the Company"), a
leading vertically integrated miner, refiner and producer of tellurium (Te)
and high-purity tellurium based metals for specific segments of the electronic
materials market in the People's Republic of China ("PRC"), today announced
that in October 2008, it completed its Phase I construction of the plant which
started on April 8, 2007. Production has begun immediately after the
completion of the construction. The Company hosted its first Annual Autumn
Sales Event between October 30 - November 2, 2008 at the Chengdu Homeland
Hotel, Sichuan province, China.
Phase I of the construction was a 15 hectares Solar Photovoltaic Industry
Park, a new core material of solar photovoltaic cell manufacturing base
located in southwest airport economic development zone, Shuangliu, Chengdu,
China, that accounted for $20 million of investment, included a factory of
65,000 square meters and 300 sets of manufacturing equipment in operations.
With the state of art equipments, the Company has the capacity to produce 400
tons of high-purify photovoltaic cell material and 42 other types of
electronic materials.
Right after the completion of Phase I construction, the Company hosted its
first Annual Autumn Sales Event from October 30 - November 2, 2008. During the
4 days sales event, 84 customers, including CERAC, visited Apollo Solar Energy
and contracts in the amount $3.63 million were signed between the Company and
our customers. Letters of Intents to purchase our products in the next 3 years
were also signed.
About Apollo Solar Energy, Inc.
Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan
Apollo Solar S&T Co., Ltd (the Company), is primarily engaged in mining,
refining and producing of 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, commercial-purity metals.
Safe Harbor Statement
The statements contained herein 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,' 'expect'
or the negative thereof or other variations thereon or comparable terminology,
or by discussions of strategy that involve risks and uncertainties. In
particular, our statements regarding the potential growth of the markets or
forecasting financial results 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 filing, and we undertake no obligation to
publicly update such forward-looking statements to reflect subsequent events
or circumstances.
SOURCE Apollo Solar Energy, Inc.
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