SAN RAMON, Calif., June 14, 2011 – Canadian Solar Inc. (the “Company”, “we” or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar companies, today announced it has become an official sponsor of the New York Yankees.
“Solar is an affordable clean, renewable energy alternative to fossil fuels and Canadian Solar is passionate about that,” said Dr. Shawn Qu, CEO of Canadian Solar, Inc. “The New York Yankees are the most popular sports franchise in the world with an incredible fan base and we think this partnership provides a meaningful platform for a strong renewable energy message. We are celebrating America’s favorite pastime and at the same time we hope to convey the solar story.”
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, “Canadian Solar is proud to become an official sponsor of the iconic New York Yankees. The New York Yankees have always transcended the sport of baseball, with the franchise recognized globally for its championships, professionalism and excellence. Canadian Solar also represents excellence to solar customers worldwide, backed by our history of technology innovation, proven performance and superior customer service. By joining with the New York Yankees, we can now leverage one of the world’s most powerful, global brand-building platforms to further expand awareness of Canadian Solar and our innovative, affordable, cost effective solar energy solutions.”
Since its opening in 2009, Yankee Stadium has made a strong commitment to raising environmental awareness. Various waste-reducing activities, including the establishment of the Yankees Sustainability Facility Program, have helped promote responsible energy consumption and community improvement. The program ensures the efficiency of all equipment while focusing on energy reduction. During the 2010 season, waste management, composting and recycling helped divert more than 35 percent of Yankee Stadium’s trash away from landfills. Additionally, close to 9,000 gallons of cooking oil used in the Stadium last year was converted into roughly 7,000 gallons of biodiesel fuel.
“We are extremely pleased about our new relationship with Canadian Solar,” said Michael J. Tusiani, Yankees senior vice president of corporate sales & sponsorships. “We hope its in-Stadium signage will strengthen the importance of environment attentiveness, which is a significant platform for our organization.”
The solar industry grew 101% in the USA in 2010 creating over 93,000 jobs, making it one of the fastest-growing industries in the United States.
About Canadian Solar Inc. (NASDAQ: CSIQ)
Canadian Solar Inc. is one of the world's largest solar companies. As a leading vertically integrated provider of ingots, wafers, solar cells, solar modules and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visit www.canadiansolar.com.
U.S. offices: 12657 Alcosta Blvd, Suite 140, San Ramon, CA 94583
Safe Harbor/Forward-Looking Statement
Certain statements in this press release including statements are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the risks regarding the previously disclosed SEC and internal investigations as well as general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Germany; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F originally filed on May 17, 2011. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
SOURCE Canadian Solar Inc.