Intersolar 2010 ALERT: Canadian Solar Selected Top 10 Finalist

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Jun 07, 2010, 07:00 ET

MUNICH, June 7 /PRNewswire-Asia-FirstCall/ -- Canadian Solar Inc. (the "Company," "we" or "Canadian Solar") (Nasdaq: CSIQ), one of the world's largest solar companies, today announced it was selected a Top 10 finalist for the Intersolar Award for outstanding industry innovations for Canadian Solar's innovative NewEdge series. Canadian Solar will showcase its full product portfolio, along with a preview of its newest offerings from June 9 to 11 at the Intersolar 2010. For the first time, the new CS6X power module and the ClearPower module will be presented at Booth 310 in Hall B6.

Canadian Solar will take advantage of the solar industry's largest convention to inform visitors about the Company's newest advancements, including the CS6X series, the Company's most powerful module produced to date. With up to 300 Watts of power output, the robust series is the perfect choice for deployments, from household rooftops to full-scale solar farms. Canadian Solar offers five versions of the all-purpose module with industry-leading plus output tolerance of +5W.

ClearPower, a New BIPV module

For the first time, the Company is also presenting its ClearPower modules, the most cost effective alternative to glass-on-glass BIPV products. The robust solar solution's translucency allows it to be integrated with buildings and is perfect for greenhouses, facades, roof windows, and whole-glass rooftops. Future buyers can choose between a monocrystalline and a polycrystalline version, and moreover, they can choose their transparency level from a range between 10 to 40 percent. This allows customers to pick the shade level they need. The new modules can handle a mechanical load up to 5,400 Pa, almost twice as strong as traditional BIPV modules.

Nominee for the Intersolar Award 2010

Canadian Solar's NewEdge series is a nominee for the Intersolar Award 2010 in the "photovoltaic" category. "The fact that the NewEdge module was selected as a top finalist is an indicator of the potential the industry has identified in this product by Canadian Solar", said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "We are pleased to be recognized for the innovation of our products and the opportunity to present at InterSolar 2010." The ten nominees have presented products and solutions, which were shown for the first time in 2010 at the Intersolar Europe or at the Intersolar North America. The award will be presented on June 9 in a ceremony at the world's largest photovoltaic trade fair.

NewEdge saves up to 50 percent of costs

The NewEdge modules come with the patented Zep Groove. They are compatible with both the new Zep Solar installation system for homes and with traditional systems. The ultra-low parts count and the reduction in installation time make Zep one of the fastest and most cost effective solar systems. The system allows home owners to cut installation costs up to 50 percent and installation time up to 75 percent. The modules are already available in the United States, and scheduled for availability in Europe.

Record-breaking diversity

Canadian Solar offers the solar industry's largest PV portfolio, with outputs ranging from 0.3 W up to 300 W. Known for its quality products and innovation, Canadian Solar's latest achievement is the successful commercial production of cells using Enhanced Selective Emitter technology (ESE), a new milestone in solar cell engineering. In this process, ESE cell structure eliminates the "dead layer" and gets super blue response improving efficiency to 18.5 percent for monocrystalline and 17 percent for polycrystalline cells.

In January 2010, five module types from the company's CS series achieved top rankings in the PV USA PTC rating. Canadian Solar modules are among the highest ranking in the industry in PV USA (PTC) ratings, which are quickly becoming universally accepted standards for measuring real-world module energy production and performance. Canadian Solar modules offer high-yield, long-term performance, and superior efficiency and reliability to meet the highest standards in the world.

About Canadian Solar Inc. (NASDAQ:CSIQ)

Canadian Solar Inc. 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 including statements regarding our expected future shipment volumes, gross and net margins, manufacturing capacities and cell conversion efficiencies, 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 SEC and internal investigations described above 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, including customers of our silicon materials sales; 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 originally filed on June 8, 2009, as amended by its report on Form 20-F/A filed on October 14, 2009. 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.