Apollo Solar Energy: Agreement for solar power stations

Apollo Solar Energy Inc. has entered into a non-binding collaboration agreement with the China Energy Conservation Solar Energy Technologies, Inc (CECS). Apollo Solar Energy is a refiner and producer of high purity tellurium, tellurium-based compounds and various metals for the solar photovoltaic (PV) industry worldwide. The agreement is for the joint development of scaled thin-film solar energy power stations.

"We are very pleased to sign a non-binding collaboration agreement with CECS," Mr. Renyi Hou, the CEO of the Company stated, "CECS is the only solar energy oriented company currently funded by the China Energy Conservation Investment Corporation, a state-owned company responsible for leading the new renewable energy industry by directing development throughout China."

Both parties are expected to work together in three defined ways, including: Apollo Solar will provide CECS with the thin film solar panels when requested, on a long term basis; the parties will work jointly to build scaled thin film solar energy power stations; and lastly, CECS will acquire the thin film solar energy power stations that may be built independently by Apollo Solar through its own financing and technologies.

"CECS, a wholly-owned subsidiary of China Energy Conservation Investment Corporation, is the largest operator of wind and solar power stations in China. CECS is in charge of the construction and operation of scaled solar power stations, and is the largest investor and systematic operator of solar photovoltaic technology in China," Mr. Zhao Youmin, senior vice president of CECS said. "It is our duty to lead the direction of new renewable energy industry in China as a state owned investment corporation. We select Apollo as strategic partner for developing thin film solar power station since Apollo is a pioneer in thin film solar PV section with resource, technologies and network. We expect long term cooperation with Apollo under mutual benefit."