Solar Thin Films, Inc. Enters Into Marketing Agreement With CG Solar of China
SOURCE:
Solar Thin Films, Inc.
2008-03-28 12:45:00
Solar Thin Films, Inc. Enters Into Marketing Agreement With CG Solar of China
DIX HILLS, NY–( EMWNews – March 28, 2008) – Solar Thin Films, Inc. (
announced that it has signed a three-year marketing agreement with CG
Solar. Under the terms of the agreement, Solar Thin Films will initially
have non-exclusive rights to distribute CG Solar’s photovoltaic products
within North America and Europe. Solar Thin Films will receive exclusive
rights to distribute CG Solar’s photovoltaic products within North America,
for the duration of the marketing agreement, upon the aggregate sale of 3
MWs of CG Solar’s product within North America and Europe.
The agreement covers CG Solar’s existing product, as well as the as of yet
unreleased transparent product for Building Integrated Photovoltaics
(“BIPV”) applications. Solar Thin Films will work in conjunction with CG
Solar to obtain required approvals for CG Solar’s photovoltaic modules in
the United States and Canada. The agreement provides Solar Thin Films with
a discounted price that will be further discounted upon the achievement of
certain sales milestones.
Solar Thin Films CEO Peter Lewis stated, “We are delighted to be associated
with CG Solar and China Glass. CG Solar provides us with high quality
dependable products. We are excited to represent CG Solar’s innovative
transparent technology as it will be an ideal resource for BIPV
applications.”
About CG Solar
CG Solar is located in China, and is a subsidiary of China Glass Holdings
Co., Ltd. (“China Glass”). China Glass, together with its a subsidiaries,
is one of the ten largest companies engaged in glass processing and
production in China, as well as one of the leading building material
manufacturers in China.
About Solar Thin Films
Solar Thin Films (www.solarthinfilms.com) develops, manufactures and
markets a complete line of manufacturing equipment for the production of
“thin-film” amorphous silicon and CIGS photovoltaic (“PV”) modules,
together with a wholly owned subsidiary based in Budapest, Hungary.
Personnel associated with the company have been responsible for the setup
of 14 thin-film photovoltaic factories worldwide. The Company sells
equipment and turnkey systems to customers including EPV Solar (Hamilton,
NJ, USA) and Blue Star Terra (Weihai, China). Management believes that its
line of cost-effective thin-film photovoltaic manufacturing equipment
positions the Company to take advantage of the rapidly growing demand for
solar modules and an expected market shift towards “thin film” PV modules
as part of a cost effective, “clean technology” energy solution.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating
results, potential applications of the Company’s technology, opportunities
for the Company, and any other statements about the future expectations,
beliefs, goals, plans, or prospects expressed constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. Any statements that are not statements of historical fact
(including statements containing the words “will,” “believes,” “plans,”
“anticipates,” “expects,” “estimates,” and similar expressions) should also
be considered to be forward-looking statements. There are a number of
important factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements
including: limited operating history, need for future capital, and economic
conditions generally. Additional information on potential factors that
could affect results and other risks and uncertainties are detailed from
time to time in the Company’s periodic reports, including Forms 10-KSB,
10-QSB, 8-K, and other forms filed with the Securities and Exchange
Commission (“SEC”).
These statements, and other forward-looking statements, are not guarantees
of future performance and involve risks and uncertainties.
Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89
Get Unlimited Organic Website Traffic to your Website
TheNFG.com now offers Organic Lead Generation & Traffic Solutions