GILBERT, AZ -- 06/19/08 --
Evolution Solar Corp. (PINKSHEETS: EVSO) has
entered into negotiations to acquire a Hong Kong-based R&D and Procurement
Company. Evolution Solar most recently announced its plans to develop
alternative energy technologies using thin film solar panels.
"Evolution Solar is planning to establish a footprint with the
manufacturing capabilities in the Asian markets that can assist in the
reduction in the manufacturing and procurement of materials in the heavy
technology manufacturing providence of Shanghai, China," said Robert
Kaapke, President and CEO of Evolution Solar.
Technology currently exists for analyzing cost and performance of solar
systems, developing parabolic trough technology for solar electricity
generation, and developing advanced technologies such as concentrating
photovoltaics (solar panels).
The Holy Grail for solar panel manufacturers is to engineer and
commercially manufacture solar panels that can produce one watt of power
for under a dollar, without subsidies, making solar energy generally
cheaper than coal generation. Currently the best crystalline silicon solar
panels sell for about $3.40 to $4.00 per watt.
"We see our competitors trying to reduce the cost per watt by scaling up
production or using less than industrial grade materials," Mr. Kaapke
explained. "We believe better engineering and technological innovations
are the keys to delivering increasingly cost effective solar panels."
Industry analysis has predicted the cost per watt should decrease to $1 by
2010. First Solar is currently making solar modules that are twice as
cost-effective as the industry standard, selling at $2.40 per watt.
According to AmTech, JA Solar Holdings Co., Ltd. reportedly met its
production targets for '08 and continues to be significantly over-procured
in terms of raw materials supply for 2008 and 2009.
About Evolution Solar Corporation
Evolution Solar Corporation, (PINKSHEETS: EVSO), commercializes leading
edge alternative solar energy technologies and related photovoltaic
technologies, equipment and next generation appliances. Evolution Solar is
an emerging industry leader capitalizing on its understanding of solar
technology and supporting the development of alternative energy plans for
large corporations and government organizations. Evolution Solar is also
an expert consultant agency to organizations in their strategic and
procurement plans for alternative energy contracts with public utilities.
For more information please visit our homepage at:
http://www.evolutionsolar.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This news release contains forward-looking information within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, including
statements that include the words "believes," "expects," "anticipate" or
similar expressions. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of the company to differ materially
from those expressed or implied by such forward-looking statements. In
addition, description of anyone's past success, either financial or
strategic, is no guarantee of future success. This news release speaks as
of the date first set forth above and the company assumes no responsibility
to update the information included herein for events occurring after the
date hereof.
Contact:
Robert Kaapke
Evolution Solar Corp.
648 East Harwell Road
Gilbert, AZ 85234
Phone: 480.370.3535
Email: Email Contact
