asola expands into Canada - Signs MOU to Build a 30 MW Solar Manufacturing Facility in Ontario

ERFURT, GERMANY - asola has signed a Memorandum of Understanding to establish a joint venture manufacturing plant in Ontario, Canada, to enable production and distribution of high quality solar modules in Canada. The Canadian partner, Evergreen Power Ltd., is a developer of renewable energy projects, with well-established relationships in the building industry. The planned initial production capacity is 30 MW (megawatts) per year of solar modules incorporating mono- and poly-crystalline silicon solar cells, with a potential to generate revenues in excess of $60 Million annually. The joint venture company will market solar photovoltaic (PV) modules under the "asola" brand. Quantum owns a 24.9% interest in asola.

 
The manufacturing facility, located near Toronto, will replicate the proven equipment, processes and quality control measures employed at asola’s state of the art 45 MW facility in Germany. The facility will build asola modules incorporating proprietary technologies and the best practices from Germany, the largest solar market in the world.

"We are pleased with the energy, enthusiasm and market knowledge of Evergreen Power, and look forward to quickly launching our products into the fast growing Ontario market", said Reinhard Wecker, the founder and CEO of asola. "We plan to bring a series of proven designs including innovative building integrated photovoltaic products to the Canadian market".

"We are excited to be one of the first to market with PV modules manufactured in Ontario", said Tim Burke, COO of Evergreen Power Ltd.  "We will be ready to meet market demand for high quality PV modules in mid-2011, with long term goals to manufacture modules for use in the automotive industry. Evergreen’s participation in this venture will also secure module supply for our FIT program customers."

About asola:

asola - Advanced and Automotive Solar Systems GmbH produces and markets high-quality silicon-based photovoltaic modules that comprise mono-crystalline or polycrystalline silicon cells. asola's technologies include high output and high efficiency flat modules for residential and industrial applications, and specialized spherical modules for automotive applications. asola is presently developing for Fisker Automotive's Fisker Karma vehicle, the most spherically-bent solar car roof in the world. More information can be found in http://www.asola-power.com/.

About Evergreen Power:

Evergreen Power Ltd. is a renewable energy integration company that supplies and installs grid-tied photovoltaic systems to commercial, residential and agricultural customers, and government institutions such as school boards.   Evergreen Power provides complete project feasibility analysis services to commercial customers.  Evergreen Power operates throughout Southern, Central and Eastern Ontario, and is registered on the Ontario Power Authority’s Vendor List.  More information can be found at www.evergreenpowerltd.ca 

For more information, please contact: 
  
At asola:
Reinhard Wecker
CEO
r-wecker@asola-power.com
+49 (0) 3643 49 890 010

At Evergreen Power:
Tim Burke
COO
tburke@evergreenpowerltd.ca
+1-705-328-9431