2012-09-12 00:19:24 -
Calgary, Alberta, Canada - September 11, 2012 (CNSX:QSL) - QSolar Limited ("QSolar" or the "Corporation") is pleased to announce the introduction of QLiteX, a new super-lightweight line of crystalline solar panels developed utilizing its new patent pending proprietary process and technology known as Spraytek(r)99. With the implementation of QSolar's proprietary Spraytek(r) technology and the new introduction of the QLiteX family of solar panels, solar cells may now be embedded onto a super light substrate other than glass. QLiteX has been developed to weight under 20 lbs. for a standard 250W crystalline solar panel compared to competing solar panels weighing approximately 44 lbs. Spraytek(r) enables the adding of color to the cells during the proprietary manufacturing process.
QLiteX solar panels may
only be implemented using the new proprietary patent pending manufacturing technologies and specialized equipment required for spreading the proprietary compound. The Corporation continues to push the boundaries of potential solar energy panel uses to new levels including the introduction of a QLiteX rainbow color line of standard and super-lightweight solar panels as well as solar panels available with color background. These new developments will potentially open an additional broad new solar installation market with a wide spectrum of standard and new super-lightweight color products, which may be ordered in standard or custom shapes and custom specifications, utilizing our embedded ESS spraying process and QLiteX composite material sheet.
The new development introduces a super-lightweight solution to building load factor considerations and installation techniques not requiring frames and contrary to traditional glass applications or lamination techniques and limitations used by most competitors in the solar installations industry. This new solution does not alter the mechanical strength of the solar panels and retains its resistance to wind loading. This has become important in the world wide solar panel market in that the majority of proposed roof installations do not proceed due to weight constraints when utilizing standard glass panels. The weight advantage of QLiteX has also resulted in a marine solution for shipping vessels where weight is critical.
QSolar has manufactured and sold the QLiteX product and it has now been installed by a third party company in the Czech Republic. In addition QLiteX has now been shipped for evaluation to the following countries of Sri-Lanka, Maldive Islands, United States, United Kingdom, Switzerland, Germany, Denmark and China.
QSolar will continue to offer embedded sprayed glass solutions that are of lighter weight, can be colored and custom shaped if required. In addition, other substrates are being tested and can be potentially embedded utilizing our Spraytech(r) technology.
In conjunction with this new research and development and the introduction of the new family of QLiteX products, the Corporation has filed a new patent application.
The Corporation's patent portfolio now consists of thirteen 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 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 trades under the symbol QSL on the Canadian National Stock
About QSolar Limited
QSolar Limited and its wholly-owned subsidiary, QSolar 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), QLite 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 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 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 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 SEDAR website (www.sedar.com) under the profile for QSolar.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andreas Tapakoudes, Chief Executive Officer
Preston J. Maddin
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.
To view this press release as a webpage, please click on the following link: