Canadian Solar to Sponsor of EHC Munchen Hockey Club

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Aug 27, 2010, 06:00 ET

MUNICH, Germany, Aug. 27 /PRNewswire-Asia-FirstCall/ -- Canadian Solar (Nasdaq: CSIQ), one of the world's largest solar companies, announced it will sponsor the Munich hockey team, EHC Munchen, in the upcoming DEL season. This sponsorship underscores the Ontario-based solar company's commitment to the German market and to one of the world's most popular sports.

Next season, the EHC Munchen players, with ten Canadians among them, will enter the rink with Canadian Solar's logo on their jerseys. The Company's logo with the sun will also prominently appear on the two top goalies' shin guards and gloves.

"Hockey is a high-energy, highly competitive, team sport. The game requires utmost precision, efficiency, dynamics and the highest performance level. Both the EHC Munchen hockey team and Canadian Solar share these characteristics, making coach Pat Cortina's team the perfect match for us," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "This sponsorship is also a commitment to our Canadian identity, and to our subsidiary in Munich."

Commitment to Support High-performance Sports

Canadian Solar has historically been one of the largest solar companies in Europe with Germany being one of its largest markets. The Company moved its European headquarters from Babenhausen (Allgau region) to Munich earlier in 2010, reflecting its commitment to the important German market. As part of its brand identity program, Canadian Solar is an active supporter of local high-performance sports in a variety of the markets it operates in. There is a strong connection between Canadian Solar and hockey: last season, the Canadian solar company has sponsored the Italian national hockey goalie, Thomas "Tschomby" Tragust. Besides sponsoring hockey in Germany, the company also supports the Italian top league basketball club, Canadian Solar Virtus Bologna, and the US baseball team San Francisco Giants.

About Canadian Solar

Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe and Asia, Canadian Solar provides premium quality, cost-effective and environmentally friendly solar solutions to support global, sustainable development. For more information, visit http://www.canadiansolar.com .

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the risks regarding the previously disclosed SEC and internal investigations as well as general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Germany; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on August 19, 2010. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

SOURCE Canadian Solar Inc.