|Friday, 19 February 2010, 15:31 HKT/SGT|
SINGAPORE, Feb 19, 2010 - (ACN Newswire) - Anwell Technologies Limited ("Anwell" or the "Group"), a global supplier of advanced manufacturing equipment and process technologies for optical disc, OLED and solar industries, is pleased to announce that its thin film solar panels have been certified to have a conversion efficiency of 8.58% by the Quality Supervision & Testing Center of Chemical & Physical Power Sources of the Ministry of Information Industry of China ("Testing Center"). Conversion efficiency is a measure of electric power output converted from absorbed light.
Established in 1985, the Testing Center is the largest qualified testing laboratory for different physical power products approved by the General Administration of Quality Supervision Inspection and Quarantine of China. It is also one of the four qualified laboratories in the world that has the necessary facilities to match the standards of the World Photovoltaic Scale (WPVS).
"We are pleased to have our panels tested and certified by such a prestigious national laboratory in China. The positive results from the tests are proof that panels produced by our in-house developed technologies are able to meet the most rigorous of international standards. It also validates the capabilities of our proprietary designed equipment and process capability. We are looking for further process enhancement as to maximise the capacity of the production line," said Franky Fan, Chairman & CEO of Anwell.
Anwell's 40MW solar panel production line installed in Henan, China has arrived the final phase of testing. Mass production at the plant remains on track to begin by end of March. In mass production, the Group expects to achieve a stabilized conversion efficiency of above 7%, compared with the industry average of 5-6% for amorphous silicon panels, according to research released by the Solar Energy Research Institute of Singapore.
With the strong research & development capabilities developed as an equipment manufacturer and access to a low cost production base in China, the Group will be able to enhance its competitiveness by maximising this unique cost synergy. The Group plans to continue the development of its advanced process technology for tandem and triple junction module production in the coming future, which may improve the conversion efficiency of our product up to 13%.
Growing opportunities for solar in China
Since the start 2009, the Chinese Government has announced a series of measures to spur the growth and development of the solar industry in China. Efforts have culminated in the RMB20 billion, "Golden Sun" stimulus program. Two of Anwell's projects were part of an initial batch of 294 projects approved by the Chinese Ministry of Finance to receive subsidies up to half of the project's construction and related transmission costs, under the stimulus program. The total investment for the projects is approximately RMB40.2 million, entitling the Group to subsidies up to RMB20.1 million. The Group has already begun work on both projects with an expected completion date in July 2010.
Anwell Technologies Ltd. (SES:G5X.SI or ANW:SP) ("Anwell") is a global leader in providing turnkey production solutions for optical media replication business. The Group's activities include manufacturing and sales of optical media production lines and media products. With the various proprietary technologies developed since the Group was founded in year 2000, Anwell has continued to study the opportunities to tap into other industries, including OLED, solar industries and etc. The Group officially announced its entry into the solar business in 2008. The Group began mass production with its own proprietary equipments at its thin film solar production plant in Henan, PRC in March 2010. For more information, please refer to www.anwell.com .
Ken Wu, CFO
Anwell Technologies Limited
Tel: +852 2499 9178
Fax: +852 2499 9170
E-mail: [email protected]
Kamal Samuel / Adrian Seah
Financial PR Pte Ltd
Tel: +65 6438 2990
Fax: +65 6438 0064
Feb 19, 2010 15:31 HKT/SGT
Topic: Awards received
Sectors: Solar, Alt. Energy
From the Asia Corporate News Network
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