Solar Thin Films, Inc. Enters Into Marketing Agreement With CG Solar of China
Source: Marketwire/CNN Money.com / March 28, 2008
http://money.cnn.com/news/newsfeeds/articles/marketwire/0381275.htm
Solar Thin Films, Inc. (OTCBB: SLTN) today announced that it has signed a three-year marketing agreement with CG Solar. Under the terms of the agreement, Solar Thin Films will initially have non-exclusive rights to distribute CG Solar’s photovoltaic products within North America and Europe. Solar Thin Films will receive exclusive rights to distribute CG Solar’s photovoltaic products within North America, for the duration of the marketing agreement, upon the aggregate sale of 3 MWs of CG Solar’s product within North America and Europe.
The agreement covers CG Solar’s existing product, as well as the as of yet unreleased transparent product for Building Integrated Photovoltaics (“BIPV”) applications. Solar Thin Films will work in conjunction with CG Solar to obtain required approvals for CG Solar’s photovoltaic modules in the United States and Canada. The agreement provides Solar Thin Films with a discounted price that will be further discounted upon the achievement of certain sales milestones.
Solar Thin Films CEO Peter Lewis stated, “We are delighted to be associated with CG Solar and China Glass. CG Solar provides us with high quality dependable products. We are excited to represent CG Solar’s innovative transparent technology as it will be an ideal resource for BIPV applications.”
About CG Solar
CG Solar is located in China, and is a subsidiary of China Glass Holdings Co., Ltd. (“China Glass”). China Glass, together with its a subsidiaries, is one of the ten largest companies engaged in glass processing and production in China, as well as one of the leading building material manufacturers in China.
About Solar Thin Films
Solar Thin Films (www.solarthinfilms.com) develops, manufactures and markets a complete line of manufacturing equipment for the production of “thin-film” amorphous silicon and CIGS photovoltaic (“PV”) modules, together with a wholly owned subsidiary based in Budapest, Hungary.