Cheap and efficient solar energy on the horizon
SAN FRANCISCO and WUXI, China, April 6 /PRNewswire-Asia/ -- Swinburne
University of Technology has teamed up with Suntech Power Holdings Co., Ltd.
(NYSE: STP), the world's largest photovoltaic (PV) module manufacturer, to
create the next generation of solar cells.
The Australian university and Suntech will collaborate to develop solar
cells that are twice as efficient and run at half the cost of those currently
available.
Swinburne will contribute $3 million dollars to the venture, with Suntech
pledging a further $3 million over the course of the collaboration. The
project is also seeking funding from the Victorian Government.
Leading the group will be Swinburne Centre for Micro-Photonics Director,
Professor Min Gu and Suntech CEO Dr Shi Zhengrong. Dr. Shi, who is also an
Australian citizen, founded Suntech in 2001 and built it into a leading solar
company.
According to Professor Gu, the group's combination of research and
business expertise will allow them to develop and manufacture the
revolutionary solar cells within five years.
"The project will be based around the development of nanoplasmonic solar
cells," said Professor Gu. This new technology allows for the efficient
collection of solar energy in a wider colour range than those currently being
developed in other laboratories. "These will be twice as efficient as the
current generation of cells, and will also cost significantly less to run."
While Swinburne will lead the R&D and Suntech will manage the
manufacturing, according to Professor Gu the project will be collaborative
throughout each stage.
"By working with Suntech in the development phase, we can ensure the
technology can be transferred to the production line. This should allow us to
have the cells ready for manufacture within five years," added Professor Gu.
Dr. Shi said, "This relationship will combine Swinburne's high quality
research with Suntech's ability to rapidly commercialize new technologies into
cost effective applications. Nanoplasmonic technology has the potential to
take solar to the next level."
According to Swinburne Vice-Chancellor Professor Ian Young the agreement
will not only be significant for the university, but it could also have a
positive impact on Australia's manufacturing industry.
"This partnership will result in major research and development in solar
energy," said Professor Young. "It could lead to significant industrial
benefits for the state of Victoria, and even be a precursor to Suntech
manufacturing in Australia."
The collaborative research group will be housed in Swinburne's new
Advanced Technology Centre, which is a $130 million dollar development due to
be completed by early 2011.
About Swinburne University of Technology
Swinburne University of Technology has an international reputation for
quality career-orientated education and commitment to research. With a strong
teaching and learning program with applied vocational emphasis, Swinburne has
established many strong links with industry.
The university houses a number of globally recognised and innovative
research centres including the Centre for Astrophysics and Supercomputing and
the Centre for Micro-Photonics. Currently under construction, Swinburne's
Advanced Technology Centre will bring greater research and teaching excellence
to the areas of optical physics, sustainable infrastructure and advanced
manufacturing.
Swinburne has more than 40,000 students and 2,000 staff across five
campuses in the greater Melbourne region, as well as strong international
networks through its campus in Sarawak, Malaysia. The university continues to
expand its reach by implementing innovative teaching and learning practices,
increased spending on infrastructure and developing global partnerships.
For more information visit www.swinburne.edu.au
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar
energy company as measured by production output of solar modules. Suntech
designs, develops, manufactures, and markets premium-quality, high-output,
cost-effective and environmentally friendly solar products for electric power
applications in the residential, commercial, industrial, and public utility
sectors. Suntech's patent-pending Pluto technology for crystalline silicon
solar cells improves power output by up to 12% compared to conventional
production methods.
Suntech also offers one of the broadest ranges of building-integrated
solar products under the MSK Solar Design Line(TM). Suntech designs and
delivers commercial and utility scale solar power systems through its wholly
owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and
will own and operate projects greater than 10 megawatts in the United States
through Gemini Solar Development Company, a joint venture with MMA Renewable
Ventures. With regional headquarters in China, Switzerland and San Francisco
and sales offices worldwide, Suntech is passionate about improving the
environment we live in and dedicated to developing advanced solar solutions
that enable sustainable development. For more information, please visit
http://www.suntech-power.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements,
and include the potential for the new solar cells to be twice as efficient as
the current generation of cells, and cost significantly less to run; the
potential for nanoplasmonic solar technology to make solar competitive with
all other forms of electricity generation; and the ability to manufacture the
cells within 5 years. Such statements involve certain risks and uncertainties
that could cause actual results to differ materially from those in the
forward-looking statements. Further information regarding these and other
risks is included in Suntech's filings with the U.S. Securities and Exchange
Commission, including its annual report on Form 20-F. Suntech does not
undertake any obligation to update any forward- looking statement as a result
of new information, future events or otherwise, except as required under
applicable law.
For more information please contact:
For Swinburne University of Technology
Crystal Ladiges
Senior Media Officer
Swinburne University of Technology
Tel: +61 3 9214 5064
Email: CLadiges@groupwise.swin.edu.au
For Suntech
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
In the United States:
Sanjay M. Hurry
Vice President
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
SOURCE Suntech Power Holdings Co., Ltd.
-0- 04/06/2009
/CONTACT: Crystal Ladiges, Senior Media Officer, Swinburne University of
Technology, +61 3 9214 5064, CLadiges@groupwise.swin.edu.au; In China: Rory
Macpherson, Investor Relations Director, Suntech Power Holdings Co., Ltd.,
+86-21-6288-5574, rory@suntech-power.com, In the United States: Sanjay M.
Hurry, Vice President, The Piacente Group, Inc. (Investor Relations Counsel,
Suntech), +1-212-481-2050, suntech@tpg-ir.com/
/Web Site: http://www.suntech-power.com /
(STP)
CO: Suntech Power Holdings Co., Ltd.; Swinburne University of Technology
ST: California, China
IN: OIL
SU: JVN
PR
-- CN94810 --
4110 04/06/2009 06:30 EDT http://www.prnewswire.com
