Invest in Cleantech

Invest in Cleantech

Friday, December 14, 2007

China Sunergy Announces Agreement with asola

China Sunergy Announces Agreement with asola

NANJING, China, Dec. 14 2007 -- China Sunergy Co., Ltd. (Nasdaq: CSUN ), a specialized solar cell manufacturer based in Nanjing, China, announced today that it has entered into a supply agreement (the "Agreement") with asola Advanced and Automotive Solar System GmbH ("asola"), a reputable German module manufacturing company. Under the Agreement, China Sunergy will supply a total volume of 10.2MW of solar cells to asola during 2008.

Commenting on the Agreement, Allen Wang, CEO of China Sunergy said: "Following the recent aleo & CSI sales agreements, I am pleased to announce that we have made further in-roads into the European solar market and diversified our customer base. I believe that our European customers have been extremely satisfied with the standard of our solar cell products and look forward to further expanding our European footprint."

Commenting further, Reinhard Wecker, CEO and President of asola, added: "I am very glad to have found China Sunergy who I view as a valuable partner for our 2008 expansion plans and beyond. As we look to develop our business in new markets such as the US, Italy and Spain we would like to double or even triple our purchase volumes from China Sunergy each year."

Both parties will also explore the possibility of further cooperation between 2009 and 2012.

About China Sunergy Co., Ltd.:

China Sunergy Co., Ltd. (Nasdaq: CSUN - News; "China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit .

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the 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 effectiveness, profitability, and the marketability of the company's products; the ability of the company to operate as a public company; the period of time for which its current liquidity will enable the company to fund its operations; future shortage or availability of the supply of raw materials; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For further information contact:

China Sunergy
Fischer Chen

Financial Dynamics
Julian Wilson:
Tel: +86-10-8591-1951

Peter Schmidt:
Tel: +1-212-850-5654

No comments: