2014-02-25 15:41:25 -
Calgary, Alberta CANADA, February 25, 2014 /FSC/ - QSolar Limited (QSL - CSE"QSolar" or the "Corporation") is pleased to announce approximately 870 kilowatts in new sales have been secured and booked to commence the new year of 2014 as a result of new sales initiatives and marketing efforts centralized out of Shanghai, China. This is in part as a result of a recent marketing trip to Lahore, Pakistan in January 2014, in an effort to penetrate and open up this significant emerging solar market working closely with its Pakistan distributor, Power Highway ( www.powerhighway.net).
QSolar has secured two additional container orders, the first container order representing a repeat solar panel order for Power Highway in Pakistan and the second container
order is being shipped for Power Highway to the Middle East North African ("MENA") market. In addition, the Shanghai sales staff has sold a significant order of our QSS 250 watt solar panels to a new customer in China. All shipments are currently being coordinated and are being shipped from inventory on hand.
QSolar has developed new sales initiatives in the mass solar market competing with traditional glass solar panels. Upon completion of TUV SUD and TUV SUD UL certifications, QSolar anticipates entering into the mass rooftop market where competition is limited due to traditional glass solar panels being too heavy for the rooftops. QSolar offers a solution due to the light weight of its solar panels while being more efficient and less costly than thin film solutions currently being offered where rooftop loads will not support competitors' glass solar panels.
Mr. Irfan Ahmad Mian, CEO of Power Highway stated, "We are extremely excited to be representing QSolar and their innovative, environmentally friendly products. QSolar's families of durable lightweight solar panels combined with the significant savings in turnkey installation are well suited for Power Highway to provide solutions to our customers. We are also pleased to offer the durable lightweight features of this new product to our solar water pump customers that will enable ease of installation and minimal maintenance on the actual solar panels. The solar market in Pakistan is developing and Power Highway believes that both Pakistan and the MENA countries represent excellent opportunities where Power Highway provides solar solutions."
"QSolar is pleased to be working with Irfan and his Power Highway team," commented Andreas Tapakoudes, CEO of QSolar, "It is important to have a local market partner. Power Highway is extremely capable in providing innovative solar turnkey solar solutions where the environmental conditions for solar can be harsh due to desert-like conditions. Our solar panels are designed where roof top weight loads will not handle the weight of traditional glass panels supplied by competitors and suitable in high density population areas. Our non-toxic environmentally friendly materials used in our products combined with extremely low carbon footprint, are well positioned for providing turnkey installation solutions provided by QSolar or Power Highway, and should be attractive in this market."
Power Highway was established in 2004 and is a solar solution provider, distributor and reseller based out of Lahore, Pakistan. Power Highway's mission is to provide reliable and affordable renewable energy solutions to their customers on a turnkey basis. With the combination of Power Highway expertise in the solar area in Pakistan and other countries and the availability of innovative technology from QSolar, Power Highway is able to deliver complete solar solutions on a cost effective basis to address the prevalent energy crisis in Pakistan and related MENA countries.
About QSolar Limited
QSolar trades under the symbol QSL on the Canadian Securities Exchange ("CSE
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 CSE 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.
Telephone: 416- 882-0020
Andreas Tapakoudes, Chief Executive Officer
Preston J. Maddin, Chief Financial Officer
The CSE has neither approved nor disapproved the contents of this press release. The CSE 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 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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