2013-12-19 15:05:41 -
Calgary, Alberta CANADA, December 19, 2013 /FSC/ - QSolar Limited (QSL - CNSX),is pleased to announce it has signed a strategic partnership agreement for India with ETI Dynamics Ltd. (UK) ("ETI Dynamics"), an economic development firm with headquarters in India and the United Kingdom.
ETI Dynamics is already developing major solar energy projects in India through its asset management arm. These range from 100MW utility scale, ground mounted and grid interactive projects to rooftop solar installations that vary between 20-200KW.
The primary objective of the strategic partnership is to bring QSolar's products on to ETI Dynamics' energy platform that ushers economic and technological innovation into the market. ETI Dynamics will identify and develop sites that will introduce QSolar's proprietary and
innovative polymer Spraytek(r) and light-weight back-sheet technologies and solar products to the Indian market.
Upon delivering the first commercial rooftop and/or ground mounted site using the QSolar technologies, ETI Dynamics will expand the scope of the application to other areas including sustainable transport.
It will aim to introduce the QSolar product line to other segments such as Smart Cities and sustainable urban transport. ETI Dynamics is also looking to develop solar power boats that replace those currently running with diesel engines.
Execution of the strategic partnership will accelerate QSolar's entry into the Indian market through a host of partners that operate on the ETI Dynamics energy platform. These include engineering firms, project developers, manufacturing and assembling enterprises, equity and debt finance institutions.
ETI Dynamics will initially develop the right techno-commercial model for the Indian market based on prevailing market and industry benchmarks. Whilst on one hand it will focus on developing the market around QSolar's products, it will also develop the supply chain so that the products can meet just-in-time delivery as well as local content requirements for government funded programs. It is already in the process of identifying companies that would want to manufacture QSolar products locally under a master licensing agreement.
The immediate benefits to QSolar include the introduction of its existing solar technologies and solutions to the market in India initially, have access to a comprehensive platform to access federal departments and key decision makers who develop the national policy framework utilizing innovation, be part of a consortium led by ETI Dynamics to increase the success rate of a project, and find immediate commercial prospects and projects.
ETI Dynamics anticipates that the proposed QSolar solutions utilizing the embedded encapsulating and light-weight features of QSolars' proprietary technology will be immediately accelerated and supported through the Indian market. Introductions of the product and its benefits to various government ministries in major metropolitan cities in India have already been commenced by ETI Dynamics. Future developments are to include the partnering of a Canadian public agency and the award of an initial roof-top pilot project in India.
ETI Dynamics' asset management division is Zeus Environergy which is a joint venture with Zeus Caps, a principal finance platform focused on infrastructure investing in emerging markets. Since its inception, Zeus Caps has raised and channeled over USD $800 million in equity transactions.
Zeus Environergy was set up by ETI Dynamics and Zeus Caps to develop renewable energy and environment projects including water, waste and sustainable transport.
About QSolar Limited
QSolar trades under the symbol QSL on the Canadian National Stock Exchange ("CNSX").
QSolar Limited (www.qsolar.net) and its wholly-owned subsidiary, QSolar Ltd., and its wholly-owned subsidiary, QSolar (Shanghai) Photovoltaic Technology Co. Ltd., develop proprietary trade secret solar related processes and technologies, and manufacture and sell proprietary solar products. The Corporation currently manufactures solar photovoltaic (PV) panels in Shanghai, China using its proprietary trade secret Spraytek(r) and ESS process and its own QLite and QSS family designs. QSolar Spraytek(r) panels offer several advantages over competing products as they have significantly lower losses in hot climates due to their design, offer superior solar cell encapsulation for better protection, significant weight savings and durability features over existing competitors PV modules.
Additional information on the operations or financial results of QSolar Limited are included in reports on file with applicable securities regulatory authorities and may be accessed through the CNSX website (www.cnsx.ca) and SEDAR website (www.sedar.com) under the profile for QSolar.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gary Perkins, Investor Relations
Tekkfund Capital Corp.
Andreas Tapakoudes, Chief Executive Officer
Preston J. Maddin, Chief Financial Officer
The CNSX has neither approved nor disapproved the contents of this press release. The CNSX does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute forward looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", 'may", "will", "project", "should", 'believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether QSolar Limited is able to meet price, performance, quality and delivery requirements. Although QSolar believes that the expectations represented by any forward-looking statements and forward-looking information contained herein are reasonable based on the information available to them on the date of this document, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements or forward-looking information. QSolar undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
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Source: QSolar Limited (CNSX: QSL) www.qsolar.net
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