CALGARY, ALBERTA -- (Marketwire) -- 06/10/11 -- QSolar Limited ("QSolar" or the "Company") (CNSX: QSL) is pleased to announce that following the completion of a private placement in April (see news release of April 19, 2011), the Company has accelerated shipments of its solar Photovoltaic (PV) panels to European clients. QSolar's product shipments were of the highly successful 230W and 250W panels and represent a 100% increase over the previous quarter's shipments.
Andreas Tapakoudes, President & CEO of QSolar commented, "This is an exciting period for QSolar and its' shareholders. The additional working capital from the April financing has placed QSolar in a better position to receive and execute orders, as represented by the increase in shipments to our European clients. Also, as we continue to ramp up production with the launch of our new Kristal and Kristal Rainbow product lines and the introduction of our own manufacturing facility in China, the shipments will continue to increase."
QSolar profile
QSolar manufactures solar photovoltaic (PV) panels in its new manufacturing facilities in Shanghai China, as well as the contracted manufacturer in Shenzhen using its proprietary patent pending Spraytek process and its own designs. QSolar products were introduced in July 2010 and have attracted significant interest, orders and letters of intent from European and U.S. markets. QSolar Spraytek panels offer several advantages over competing products as they have significantly lower losses in hot climates due to their design, offer superior solar cell encapsulation for better protection and longer life and cost less than equivalent products. In addition, QSolar offers solar panels with positive tolerance which means that the customer will get a guaranteed output which can be up to 5% more than the actual specifications.
QSolar commenced trading on the Canadian National Stock Exchange (CNSX) under the symbol QSL on March 25, 2011 through a reverse take-over of Bricol Capital Corporation. For more information on QSolar please view the Listing Statement on the CNSX website, www.cnsx.ca.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report and the documents that we incorporate by reference, are forward-looking statements and can generally be identified by words such as "will," "allow," "outlook," or the negative of these terms, and other comparable terminology.Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether QSolar Limited is able to meet price, performance, quality and delivery requirements. QSolar undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
Shares outstanding 41,000,000
Contacts:
QSolar Limited
Andreas Tapakoudes
President & CEO
403-775-1266
403-770-8436 (FAX)
info@QSolar.net
