Apollo Solar Energy files a Form 8K Disclosing a New Corporate Presentation

CHENGDU, China, May 10 /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) and tellurium-based metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, in the People's Republic of China, today announced the Company has filed a Form 8K, disclosing a slide presentation that Apollo Solar expects to use at future investor conferences, such as the China Rising Investment Conference on May 17, 2010 in New York. A copy of the slide presentation can be found at the following link: http://tinyurl.com/ApolloSolar8K

In the slide presentation, Apollo Solar discusses its current long-term corporate mission, and expected strategy for the next five years. The long-term corporate mission of Apollo Solar is to develop technologies and materials that can produce CdTe thin film solar panels with higher efficiency and cheaper costs, which the Company believes will make CdTe thin film solar power stations competitive with other commercial power stations. If these developments are successful, Apollo Solar expects to become a major supplier of tellurium (Te) and tellurium-based compounds to companies throughout the world.

Apollo Solar also plans to expand its business in the downstream solar photovoltaic (PV) industry, by acquiring thin film solar panels through OEM business partnerships with existing thin film solar panel manufacturers, for its anticipated solar energy farm project with the Ningguo City government, Anhui Province, China. As Apollo Solar previously disclosed, it entered into a non-binding Letter of Intent with the Ningguo City government pursuant to which Apollo Solar may have an opportunity to build a 10 GW grid-connected solar power station within the next -six to eight years.

"It is our corporate mission to use clean, renewable solar energy sources that we believe will protect the Earth through the restriction of carbon emissions," stated Mr. Renyi Hou, CEO of the Company. "We also believe that governmental support for the solar PV industry, including Cadmium-Telluride (CdTe) thin-film solar cells, will lead to higher volume wholesale production. As a high-purity Te supplier, Apollo Solar expects to provide material and technology that will improve CdTe thin film PV efficiency and economics.

"By cooperating with other solar photovoltaic cell producers through OEM agreements, we expect to take advantage of our exclusive source of high purity Te, CdTe, and other related photovoltaic materials, to manufacture more effective and economical solar photovoltaic cells that could be used to build a future solar energy farm," Mr. Renyi Hou noted.

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 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.

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. In particular, the statements regarding the Company's expected entry into an agreement with the Ningguo City Municipal Government to create a solar energy community, and the Company's ability to provide material and technology that will improve CdTe thin film PV efficiency, are examples of such forward-looking statements. 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.

    For more information, please contact:

    Company:
     Dr. Jingong Pan, VP of IR
     Email: [email protected]
     Tel:   +1-732-261-2099

    Investor Relations:
     John Campo, IR consultant
     Wall Street International
     Email: [email protected]
     Tel:   +1-410-236-8200

SOURCE Apollo Solar Energy, Inc.

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