MOUNTAIN VIEW, Calif., May 13 /PRNewswire-Asia-FirstCall/ -- Solar
EnerTech Corporation (OTC Bulletin Board: SOEN) ("Solar EnerTech" or the
"Company"), a leading manufacturer of photovoltaic solar energy cells with its
corporate office in Mountain View, California and with its manufacturing
facility at Jinqiao Modern Technology Park in Shanghai, announced today that
it has retained CCG Investor Relations to design and execute its investor
relations campaign.
"We look forward to working with CCG to establish a more effective and
transparent communications channel with the global investment community," said
Mr. Leo Young, Chief Executive Officer of Solar EnerTech. "By leveraging
CCG's international platform, extensive investor network and expertise, we are
committed to active and transparent communications in order to raise our
profile and improve investors' understanding of our business strategy and
investment outlook. We expect to benefit from the strong overseas demand of
our high-quality superior products to advance the SolarE brand name in the
marketplace. We're also well-positioned to expand our market share with a
shift in strategy to deliver superior products and services to our customers.
We will work diligently to reach our goals of expanding our distribution
coverage overseas to become the market leader in the global photovoltaic
business"
Solar EnerTech is a fast-growing manufacturer of high quality photovoltaic
solar energy cells, modules, and state-of-the-art solar applications. For the
year ended September 30, 2009 Solar EnerTech's sales increased 12%
year-over-year to $32.8 million, and diluted EPS improved to ($0.16) from
($0.18) a year ago. The increase in sales was driven by increases in module
shipments to 10.5 Mega-watts (MW) during fiscal 2009, up from 6.67MW in fiscal
2008, which was partially offset by a 25% yearly decrease in average selling
price to $3.07 per Watt in fiscal 2009, down from $4.10 in fiscal 2008.
"We are excited to be working with a client with superior industry
knowledge, high-margin quality products, and extensive global reach," said
Crocker Coulson, President of CCG. "Solar EnerTech has broad global coverage
and they have been recognized as a distinguished manufacturer among customers
in Europe and Australia. The Company differentiates itself from industry
peers with their shift in strategy to capture a higher percentage of industry
growth and their expanding customer base. We are confident that Solar EnerTech
will continue to deliver quality products and maintain effective
communications with investors."
About Solar EnerTech Corp
Solar EnerTech is a photovoltaic solar energy cell manufacturing
enterprise incorporated in the United States with its corporate office in
Mountain View, California. The Company has established a sophisticated
67,107-square-foot manufacturing facility at Jinqiao Modern Technology Park in
Shanghai, China. The Company currently has two 25MW solar cell production
lines and a 50MW solar module production facility.
Solar EnerTech has also established a Joint R&D Lab at Shanghai University
to develop higher efficiency cells and to put the results of that research to
use in its manufacturing processes. Led by one of the industry's top
scientists, the Company expects its R&D program to help bring Solar EnerTech
to the forefront of advanced solar technology research and production.
About CCG Investor Relations
CCG is a leading global investor relations and strategic communications
consulting firm. In business for more than 30 years, the agency provides a
complete range of investor communications, counseling, and IT and data
solutions through our global network to over 300 clients across multiple
capital markets. CCG has been awarded a number of industry honors for its
handling of complex investor relations and crisis communications matters. The
agency's corporate headquarters is in Los Angeles with additional offices in
New York, Beijing, Shanghai, Hong Kong, Frankfurt, Sao Paulo and Tel Aviv. For
further information, contact CCG directly, or visit the Company's web sites at
http://www.ccgir.com and http://www.ccgirasia.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
Statements contained in this press release, which are not historical facts,
are forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are
based largely on current expectations and are subject to a number of known and
unknown risks, uncertainties and other factors beyond our control that could
cause actual events and results to differ materially from these statements.
These statements are not guarantees of future performance, and readers are
cautioned not to place undue reliance on these forward-looking statements,
which are relevant as of the date of the given press release and should not be
relied upon as of any subsequent date. Solar EnerTech undertakes no obligation
to update publicly any forward-looking statements.
For more information, please contact:
CCG Investor Relations Inc.
Pierre Maccagno, Account Manager
Phone: +1-646-833-3422
Email: pierre.maccagno@ccgir.com
Mr. Crocker Coulson, President
Phone: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE Solar EnerTech Corp