2013-01-09 00:35:12 -
Calgary, Alberta, Canada - January 8, 2013 (CNSX:QSL) - QSolar Limited ("QSolar" or the "Corporation") is pleased to announce that, having completed the development of a new substrate, for use in its QLiteX solar panel manufacturing process, it has now commenced full scale manufacturing in its Shanghai manufacturing facilities integrating and utilizing the new ultra-light substrate. In conjunction with this development, QSolar has filed a new patent application.
The Corporation has commenced manufacturing of the new substrate and shipped its newer version of QLiteX to customers. This development will assist the Corporation in further controlling its product costs, improve quality control, have fully integrated manufacturing of the full production cycle, and have much greater flexibility in the design and introduction of
new products.
QSolar continues to do in-house research and provide ongoing development to constantly improve its suite of products. Conventional solar panel manufacturing, unlike QSolar, uses glass as a substrate and encapsulates the solar cells using EVA and TPT film in capital intense and power hungry laminators. The lamination process and materials has not changed significantly in this sector for many years. QSolar products feature the following advantages to glass lamination manufacturing:
1. QLiteX solar panels are nearly half the weight of conventional solar panels;
2. QLiteX solar panels are non-metalic frameless design which does trap dust, particles and is not susceptible to corrosion and pitting in contrast to conventional solar panels;
3. QLiteX being nearly unbreakable in contrast to conventional solar panels utilizing glass which is susceptible to breakage on minor impact or weight load;
4. The new ultra-light QSolar substrate incorporates air cooling ducts enhancing efficiency in contrast to glass panels;
5. The new QSolar substrate can be of virtually any size and any thickness or color.
With the new QSolar substrate, QSolar will continue to offer embedded solutions that are of lighter weight and greater strength and that, can be colored and custom shaped if required, providing greater flexibility in the module design. In addition, other substrates are being tested and can be potentially embedded utilizing our Spraytech(r) technology.
The Corporation's patent portfolio now consists of fourteen patents and patents pending including previously filed patents which include three for our Spraytek(r) solar module manufacturing process, two patents for our Kruciwatt(r) wafer manufacturing process, one patent for the ESS embedded spraying technology, one patent for the low loss solar panel design, one patent for QLiteX and one patent for a solar powered waste processing plant.
The Corporation intends to continue to enhance its value and conduct ongoing research and development based on available budgeted financial resources with the aim of improving the existing processes and technologies and introducing new products and applications to position QSolar at the forefront of solar technology. QSolar continues to provide products for potential new markets that cannot be addresses with conventional solar panels.
QSolar trades under the symbol QSL on the Canadian National Stock Exchange ("CNSX").
About QSolar Limited
QSolar Limited and its wholly-owned subsidiary, QSolar Ltd., and its wholly-owned subsidiary, QSolar (Shanghai) Photovoltaic Technology Co. Ltd., develop patented and proprietary solar related processes and technologies, and manufacturing and sell proprietary solar products. The Corporation currently manufactures solar photovoltaic (PV) panels in its new manufacturing facilities in Shanghai, China and in a contracted manufacturing facility in Shenzhen, China using its proprietary patent pending Spraytek(r), Kruciwatt(r) and ESS process and its own QLite designs. QSolar products were initially introduced by QSolar in July 2010 and have attracted significant interest, orders and letters of intent from European and U.S. markets generated by its sales office representatives. 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 over existing competitors PV modules, longer life and cost less than equivalent solar products, and are now offered in various sizes and colors. In addition, QSolar offers solar panels with positive tolerance which means that the customer will get a guaranteed output which can be up to 5% more than the actual specifications.
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:
Andreas Tapakoudes, Chief Executive Officer
QSolar Limited
Telephone: 011-44-7534-711-503
email:
andreas@QSolar-Limited.com
Preston J. Maddin, CFO
QSolar Limited
Telephone: 403-617-0000
email:
cfo@qsolar-limited.com
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.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report and the documents that we incorporate by reference, are forward-looking statements and can generally be identified by words such as "will," "allow," "outlook," or the negative of these terms, and other comparable terminology.
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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