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Quantum and Asola Awarded $17 Million Solar Module Supply Contract by a Leading German Solar System Supplier
Irvine, CA – May 27, 2008 – Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW) today announced that its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, has won a $17 million contract from Sunworx GmbH, for the supply of high-efficiency silicon photovoltaic solar modules. Sunworx, which is one of the leading solar system suppliers in Germany, will take delivery of these modules in 2008.“Sunworx is notable for their innovative solutions, consistent growth and long-term business success. Asola is pleased to partner with this dynamic company, as they share our passion for the highest quality and reliability,” said Asola's founder and CEO, Reinhard Wecker.
Intersolar 2008, 12.6.-14.6.2008
Visit us on stand 586 in hall B4!The Intersolar 2008, Europe’s largest trade fair for solar technology, is opening its gates in Munich for the very first time. The Intersolar is the key location for all those involved in the international solar power sector and the number of trade visitors has grown enormously over the past few years.
The fair is expected to attract about 40,000 trade visitors to an exhibition area measuring 76,000 m2 this year. As ever, asola will be there again this year.
Come and visit us at stand 586 in hall B4.
Asola Poised To Boost Solar Capacity To 45 MW
Quantum Fuel Systems Technologies Worldwide Inc. says its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, is expanding its annual solar module manufacturing capacity to 45 MW. Asola has successfully secured financing for this expansion and plans to commission a new facility by this fall. Quantum and Asola have entered into a long-term supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells. Together with supply contracts with other major suppliers around the world (i.e., MOTECH, Sunergy and others), the Ersol agreement guarantees a steady supply of solar cells to Quantum and Asola, the companies say.SOURCE: Quantum, 21.May 2008
Press release 02.11.2007
| - | Module manufacturer asola Advanced and Automotive Solar Systems GmbH concludes EUR 230 million contract with ersol |
| - | Cell deliveries for a period of 10 years |
| - | Joint focus on the US market with California-based Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW) |
Erfurt, 2 November 2007. From 2008, ersol Solar Energy AG (ersol) will deliver silicon solar cells to the module producer asola, based in Erfurt, Germany. To this end, both companies have today signed a long-term supply agreement that will run until 2017. The total volume of the contract amounts to around € 230 million. ersol is scheduled to receive down payments from asola, which will later be credited to the German module producer, when purchasing solar cells, in the form of a purchase price reduction.
“In parallel to their production in Erfurt, Quantum and asola are planning a 30 MWp production plant in California. For ersol, the signing of this contract again offers the chance to further develop the US market, which will become a key market in the future,” says Dr Claus Beneking, CEO of ersol AG, following the signing of the new customer agreement. The conclusion of this latest contract saw ersol increase its order volume for solar cells to more than € 3 billion.
asola plans to extend its production facilities in Erfurt to over 30 MWp by the end of 2008 and is achieving this with the help of Quantum Technologies (NASDAQ:QTWW), which is acquiring 24.9% interest in the Thuringia-based company. “asola and Quantum appreciate ersol’s first-class cell technology and its anticipated continued development. This delivery agreement forms the basis for further contracts with even bigger volumes,” says Reinhard Wecker, Managing Director of asola, explaining his decision for the “made by ersol” solar cells. “Together with the new stakeholder Quantum, we will further double our capacity in Germany, and we will expand into the US, Italy and Spain.”
“As a California-based company, we believe that Quantum, together with asola, is well positioned to capitalize on the multi-billion dollar California Solar Initiative, which provides incentives for solar installations over the next decade for residential homes and commercial, industrial and agricultural purposes,” says Alan P. Niedzwiecki, President and CEO of Quantum.