Apollo Solar Energy Appoints New Chief Executive Officer

CHENGDU, China, Nov. 10, 2010 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTC Bulletin Board: ASOE) ("Apollo Solar" or "the Company"), a leading vertically integrated miner, refiner and producer of high purity tellurium (Te), tellurium-based compounds and other metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, today announced that it has appointed Dr. Jingong Pan as its Chief Executive Officer.

According to the employment agreement between Dr. Pan and the Company, Dr. Pan will be entitled to receive an annual base salary of RMB 660,000 and has been granted options to acquire 1,000,000 shares of the Company's common stock which will vest in equal annual installments over the thirty-six month period.

Dr. Pan, age 45, has been a member of the Company's board of directors since March 2010.  Dr. Pan is currently an Adjunct Professor at the New Jersey Institute of Technology.  From 2000 to 2002, Dr. Pan served as a General Manager of Flaming Sun (USA) Corp., and from 1997 to 2000, served as Vice President of Anton USA (Bank of China Group).  Dr. Pan received a Bachelor of Science degree from the Harbin Institute of Technology, Masters degrees from the Harbin Institute of Technology and the New Jersey Institute of Technology, and a Ph.D. from the New Jersey Institute of Technology.  

"We are very pleased to appoint Dr. Pan as our new Chief Executive Officer," Prof. Zhiming Cao, chairman of the nomination committee of board of the Company commented, "since Dr. Pan has tremendous knowledge about solar PV industry and an excellent record of management experience in both China and US.  We expect Dr. Pan will play a leading role in the Company and promote Apollo's management to a new level."

"I'm also very pleased to take the position of Chief Executive Officer of Apollo," Dr. Jingong Pan stated. "It is an honor to work with Apollo in further developing the renewable energy industry in China.  I selected Apollo as a strategic partner for my career development because I believe Apollo is a pioneer in the thin film solar PV section with significant resources, technologies and network."

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science and Technology Co., Ltd, is primarily engaged in mining, refining and producing high purity tellurium (Te), tellurium-based compounds and other metals for thin film solar PV industry as well as 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.

Safe Harbor Statement

The statements contained in this press release that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The forward-looking statements include risks and uncertainties, including but not limited to, general economic conditions and regulatory developments, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements. The forward-looking statements are made only as of the date of this press release, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance.

SOURCE Apollo Solar Energy, Inc.

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