2012-12-12 23:04:26 -
Calgary, Alberta CANADA, December 12, 2012 /FSC/ - QSolar Limited (QSL - CNSX"QSolar" or the "Corporation") is pleased to announce that its wholly owned subsidiary, QSolar (Shanghai) Photovoltaic Technology Co., Ltd. has received TUV SUD IEC 61215 and IEC 61730 certifications, for the full range of its solar panels up to the size of 250W (watts). TUV SUD certificate number Z2 12 12 03144 001 was issued effective December 4, 2012 marking a major developmental milestone for the Corporation.
TUV SUD Product Service GmbH ("TUV SUD") is headquartered in Munich, Germany and was founded in 1866. TUV SUD is one of the world's leading technical service organizations. It is represented by more than 17,000 employees across 800 locations worldwide. This
TUV certification was issued by TUV SUD at Yangzhou Opti-Electrical Products Testing Institute, Yangzhou, Jiangsu, People's Republic of China.
The TUV SUD certification mark indicates that QSolar products comply to the highest available international standards of performance and durability, IEC 61215 and safety, IEC 61730. The TUV SUD certification mark can now be affixed on the full range of its QSolar products up to the size of 250W. QSolar products are now certified according to:
IEC 61730-2:2004 * (*- Fire Test MST23 was not performed)
The Corporation has developed and recently commenced manufacturing its own proprietary substrate in its own manufacturing facility in Shanghai, China in order to further reduce product costs, improve the flexibility of its designs, increase the vertical manufacturing integration process, and thus fully control the quality of its finished product. QSolar panels manufactured with our own new proprietary substrate are being certified to TUV Rheinland and UL Rheinland of North America Inc. standards by TUV Rheinland. The TUV Rheinland Group, the parent company is based in Germany, is a global leader in the provision of neutral inspection, certification and testing for PV modules and components. Testing is currently being carried out with our new in-house manufactured substrate in its Shanghai laboratory.
As announced in a press release dated May 1, 2012, and due to QSolar's on-going research and development program, and the constant introduction of new innovative products, the Corporation has determined that the certification process of newly designed products will be on-going and new products introduced will be certified each time they become available. The completion of the TUV Rheinland certification process including our new substrate, now expected in the first quarter of 2013, will allow QSolar to further offer any international customer or market with the world's highest certification and standards of its products.
After successful completion of the certification process including a factory inspection, the Corporation expects to receive the following test marks from TUV Rheinland:
1. TUV - "Qualified, IEC 61215, Safety tested, IEC 61730, Periodic Inspection" (from TUV Rheinland);
2. UL - "Safety tested, UL 1703, Listed, Periodic Inspection" (from TUV Rheinland of North America Inc.).
Today's announcement of TUV SUD is extremely important for QSolar as it gives the Corporation the flexibility to address all of the Corporation's major markets identified now, and upon receipt of TUV Rheinland, to continue increasing the market coverage in such countries as the United States, where UL certification is required, and address new certification updates that maybe required by regulators in regulated countries.
QSolar has been selling its products until today, to customers that did not require TUV (SUD or Rheinland) certification. It is anticipated that the addition of this important TUV SUD certification will increase the sales outlook of our products as we have larger prospective customers, which have evaluated our products, but have been constrained until TUV SUD or TUV Rheinland certification was received to commence ordering QSolar products.
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
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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