QSolar Engages TUV SUD on Desert PV Solar Panel Pilot Installation in Dubai, UAE and Appoints Indepeadmin
QSolar Engages TUV SUD on Desert PV Solar Panel Pilot Installation in Dubai, UAE and Appoints Independent Director
Calgary, Alberta CANADA, December 12, 2013 /FSC/ – QSolar Limited (QSL – CNSX,(“QSolar” or the “Corporation”) is pleased to provide an update to its announcement in its November 12, 2013 news release regarding testing on its newly developed high temperature QLX desert-ready photovoltaic (“PV”) solar panels. The Corporation has engaged TUV SUD (Jiangsu TUV Product Service Ltd., Shanghai Branch) (“TUV SUD”), to compare the performance, including confirming system configuration, recording components and evaluating power measurement results and prepare an independent technical report on the comparison of QSolar QLX desert-ready solar panels against standard panels of a tier one manufacturer, in the desert pilot installation in Dubai, UAE.
The success of this pilot will be key for QSolar opening up the multibillion dollar solar power market in the Middle East, a very desirable market where the objective is to have an effective solution to efficiency and extreme ultra-violet issues that currently degrade and discolor other manufacturers’ glass solar panels subjected to extreme heat conditions. The performance of standard glass solar panels has not been satisfactory, in that these solar panels degrade significantly under the extreme heat of the desert and performance is further reduced by numerous sand storms which cover the surface of the panels with dust or by a mixture of sand and hydrocarbon micro particles in the air and settling on solar panels.
QSolar completed installation of the testing system in Dubai on December 2, 2013 and TUV SUD will commence its site visits to Dubai in the first weeks of January 2014. QSolar is testing its QLX desert ready photovoltaic (“PV”) solar panels, utilizing its proprietary non-glass QSS substrate, as well as a standard glass module purchased from a tier 1 manufacturer, at the same location, to compare their performance under desert conditions.
TUV SUD is an international service corporation focusing on consulting, testing, certification and training. At over 800 locations, primarily in Europe, North America, Asia Pacific, TUV SUD Group employs approximately 19,000 staff that provide services to validate the safety of products of all kinds to protect humans and the environment against hazards.
The Corporation is also pleased to announce that Mark L.P. Ferguson has joined the board of directors as an independent Canadian director of QSolar.
Mr. Ferguson, B.A. (University of Calgary), has been appointed by the board of directors and has consented to act as a new Canadian independent director effectively immediately. Mr. Ferguson is a senior executive based in Calgary, Alberta and has a proven track record of over thirty years of experience spending his corporate career in senior management positions with significant expertise in trust and pension services, corporate governance and corporate development. Mr. Ferguson also has significant audit and compensation expertise and as an independent director has been appointed to QSolar’s audit and compensation committees. Mr. Ferguson is currently semi-retired and operates his own private consulting firm providing corporate board mandate services and providing professional board expertise. Mr. Ferguson has held a senior executive and management positions as Vice-President-Western Region with Computershare (formerly Montreal Trust Company), and management position as Director-Corporate Development with Royal Trust Corporation of Canada and a Senior Trust Officer with National Trust Company. Mr. Ferguson currently serves and has served on numerous public, private and non-profit boards and remains active in the community.
About QSolar Limited
QSolar trades under the symbol QSL on the Canadian National Stock Exchange (“CNSX”).
QSolar Limited (www.qsolar.net) and its wholly-owned subsidiary, QSolar Ltd., and its wholly-owned subsidiary, QSolar (Shanghai) Photovoltaic Technology Co. Ltd., develop proprietary trade secret solar related processes and technologies, and manufacture and sell proprietary solar products. The Corporation currently manufactures solar photovoltaic (PV) panels in Shanghai, China using its proprietary trade secret Spraytek(r) and ESS process and its own QLite and QSS family designs. QSolar Spraytek(r) 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, significant weight savings and durability features over existing competitors PV modules.
Additional information on the operations or financial results of QSolar Limited are included in reports on file with applicable securities regulatory authorities and may be accessed through the CNSX website (www.cnsx.ca) and SEDAR website (www.sedar.com) under the profile for QSolar.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gary Perkins, Investor Relations
Tekkfund Capital Corp.
Telephone: 416- 882-0020
Andreas Tapakoudes, Chief Executive Officer
Preston J. Maddin, CFO
The CNSX has neither approved nor disapproved the contents of this press release. The CNSX does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, ‘may”, “will”, “project”, “should”, ‘believe”, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
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. Although QSolar believes that the expectations represented by any forward-looking statements and forward-looking information contained herein are reasonable based on the information available to them on the date of this document, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements or forward-looking information. 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.
To view the press release as a PDF file, please click on the following link:
Source: QSolar Limited (CNSX: QSL) http://www.qsolar.net
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Posted: December 12th, 2013 under FSCWIRE.