WUXI, China, Nov. 2 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd.
(NYSE: STP), one of the world's leading manufacturers of photovoltaic (PV)
cells and modules, has announced a new collaborative research agreement with
the Centre of Excellence for Advanced Silicon Photovoltaics and Photonics at
the University of New South Wales, Australia (UNSW). The agreement, which
includes a $1.2 million contribution to UNSW, marks the continuation of a long
and productive collaboration between the two institutions.
''Suntech's research relationship with the University of New South Wales
strives to make solar power an even more attractive clean solution to the
world's energy needs,'' said Dr. Zhengrong Shi, Suntech's Chairman and CEO.
''Through our unique collaboration, UNSW students and staff are involved in
the complete technology development process, and we are able to transfer new
solar technologies to commercial production in a relatively short time.'' Dr.
Shi, who received his PhD degree from UNSW in 1992, is a specialist in
crystalline silicon solar cell technology and holds 10 patents in the field.
Suntech's contribution will fund the research and development of
technology that increases the conversion efficiency of solar cells and
decreases solar energy's cost per watt. Suntech and UNSW have already co-
developed an advanced screen-printing technology based on the use of
semiconductor fingers that enables the production of solar cells with up to
18% solar conversion efficiency. The Company has successfully conducted pilot
production using this technology and will begin large scale production by the
end of this year.
Suntech and UNSW are currently developing technology that can produce cells
with 20% solar conversion efficiency with pilot production planned to begin in
2007. Stuart Wenham, Suntech's Chief Technology Officer and Scientia Professor
and Director of the Centre of Excellence for Advanced Silicon Photovoltaics
and Photonics at UNSW, will lead the research collaboration.
UNSW is the world record holder in silicon solar cell efficiency and a
recognized leader in developing crystalline silicon solar cell technology. In
addition to this most recent agreement, Suntech also provides funding for a
number of UNSW undergraduate and postgraduate scholarships for training in the
area of photovoltaic engineering.
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the
world as measured by both production output and capacity of solar cells and
modules. Suntech provides solar solutions for a green future. Suntech designs,
develops, manufactures, and markets a variety of high quality, cost effective
and environmentally friendly PV cells and modules for electric power
applications in the residential, commercial, industrial, and public utility
sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of
Japan's largest PV manufacturers and one of the top-ranked companies in the
building-integrated photovoltaics (BIPV) space. Suntech's customers are
located in various markets worldwide, including key markets throughout Europe,
Japan, China and the United States. For more information, please visit
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. Among other things, Suntech's expectations with respect to their
research collaboration with UNSW contain forward-looking statements. 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:
VP of Business Development
Suntech Power Holdings Co., Ltd.
Ogilvy Public Relations Worldwide
In the United States:
Senior Vice President
Ogilvy Public Relations Worldwide
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: In China - Steven Chan, VP of Business Development of Suntech
Power Holdings Co., Ltd., +86-510-8531-8910, or firstname.lastname@example.org; or Rory
Macpherson, Senior Associate of Ogilvy Public Relations Worldwide, +86-10-
8520-6553, or email@example.com; In the United States - Thomas Smith,
Senior Vice President of Ogilvy Public Relations Worldwide,
+1-212-880-5269, or firstname.lastname@example.org /
/Web Site: http://www.suntech-power.com /
CO: Suntech Power Holdings Co., Ltd.
ST: China, Australia
IN: CPR EDU ENV OIL
SU: ASI LIC
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4720 11/02/2006 08:00 EST http://www.prnewswire.com