Apollo Solar Energy Announces a Long-Term Purchase Contract from a Major Solar Company

CHENGDU, China, Nov. 16, 2010 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTC: ASOE) a leading vertically integrated miner, refiner and producer of high purity tellurium (Te) and tellurium based metals for the CdTe/CIGS Thin Film solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, today announced that a five-year purchase contract has been signed between Apollo Solar Energy and a major worldwide solar panel manufacturer.

According to the contract, Apollo will provide 5N ultra-high purity tellurium, the core material of CdTe thin film solar PV, with projected sales of approximately 730 million RMB (USD 110 million) over 5 years period.

"We have been cooperating closely for the past five years with this manufacturer and we believe this purchase contract will be a win-win strategy for both of us in the long run." said Dr. Jingong Pan, CEO of the Company.

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science & Technology Co., Ltd, is primarily engaged in mining, refining and producing tellurium (Te) and high-purity tellurium based metals for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra-high purity metals and commercial-purity metals.

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SOURCE Apollo Solar Energy, Inc.