2012-09-06 15:05:26 -
Calgary, Alberta CANADA, September 06, 2012 /FSC/ - QSolar Limited (QSL - CNSX"QSolar" or the "Corporation") is pleased to announce that effective July 13, 2012, QSolar Ltd. has entered into an initial five year exclusive distribution, sourcing and trademark licencing agreement (the "Agreement which is renewable and extendable subject to certain terms and conditions, with Enersus GmbH & Co, KG ("Enersus a distributor located in Dienheim, Germany. Enersus is engaged in the business of importing and selling many types of solar components and particularly solar panels throughout Europe and emerging countries.
Under the Agreement, subject to certain terms and conditions, QSolar has granted Enersus the exclusive distribution right for all its present and future QSolar Products for ten countries being
Germany, Austria, Switzerland, Sri Lanka, Thailand, South Sudan, Czech Republic, Maldives, Ukraine, and Turkey to exclusively market, promote, purchase and sell QSolar Products. The Agreement also calls for guaranteed minimum purchase commitments and Agreement term extensions, if the distributor exceeds the estimated distribution targets set out in the Agreement or should distribution targets be achieved earlier than set out in the Agreement. The parties have agreed that the target distribution requirements are to commence once the modules are "bankable" or insurable in the major European market of Germany, and the guaranteed minimum purchase commitments are based on a rolling three-year business plan to be updated by Enersus every six months with QSolar's approval.
Enersus is a private company, founded in 2003 and is globally active in the field of renewable energies and solar power park consultancy. Their core competence is in the procurement and sale of solar panels, inverters and construction materials directly to their customers, consulting to engineering, procurement and construction companies, project rights for investors and OEM production partner for module manufacturers. Enersus has experienced sales up to 500 megawatts of photovoltaic modules with its partner network located almost worldwide.
QSolar Products open a wide range of new applications in the solar energy market which are proprietary, unique and leading edge. QSolar's newest solar panel offering, QLiteX offers a line of solar panels that are of significantly lighter weight than traditional solar panels offered and available in the marketplace. QSolar's spraying system, processes, technologies and all related products including QSolar's proprietary Spraytek79(r), Spraytek99(r), ESS(r)Spraytek spraying systems and proprietary compounds and materials, Kristal Rainbow(r), Kruciwatt(r), QLite(r) and future proprietary and patented processes and technologies (collectively "QSolar Products") are comprised in whole or part in the solar panel manufacturing process. QSolar has developed a spraying technique, Spraytek99(r) using a highly protective insulator plastic compound which forms an impenetrable film around the cell protecting it from the weather under any conditions. QSolar has also developed the ESS(r)SPRAYTEK process where solar cells can be now embedded on virtually any substrate and thus integrate solar electricity generation with any substrate material. QSolar has developed a proprietary solar wafer manufacturing process referred to as Kruciwatt(r) which enables direct production of crucible wafers from the molten silicon.
The Enersus Gmbh &Co.KG website may be viewed at www.enersus.de. The QSolar website may be viewed at www.qsolar.net.
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., develop patented and proprietary solar related processes and technologies, and manufacture and sell their own proprietary solar products. The Corporation currently manufactures solar photovoltaic (PV) panels in its new manufacturing facilities in Shanghai, China using its proprietary patent pending Spraytek(r), Kruciwatt(r) and ESS process and its own 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 in France and through its various sales 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, longer life 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 and QSolar Ltd. are included in reports on file with applicable securities regulatory authorities and may be accessed through the CNSX website (www.cnsx.ca) and the SEDAR website (www.sedar.com) under the profile for QSolar.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andreas Tapakoudes, Chief Executive Officer
Preston J. Maddin, CFO
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.
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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Source: QSolar Limited (CNSX: QSL) www.qsolar.net
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