QSolar Limited

May 20, 2011 10:02 ET

Qsolar Completes Two Pilot Solar Installations in Italy and Spain and Announces Progress With Chinese Distributor

CALGARY, ALBERTA--(Marketwire - May 20, 2011) -Qsolar Limited ("Qsolar" or the "Company") (CNSX:QSL) today announced that it has completed pilot solar installations in Verona, Italy and Valencia, Spain that will be used as demonstration models for customers the Company currently is in sales discussions with. The demonstration models are both the highly successful QSolar 230W frameless Spraytek panels.

QSolar is also pleased to announce that Beijing Nandu Trade of 36 Songyu South Rd, Chaoyang District, 100021 Beijing, China, the Company's Chinese distributor is currently evaluating the Spraytek panels with black back sheet built to meet their specific client requirements.

Andreas Tapakoudes, President & CEO of Qsolar, commented "We are pleased with progress the Company is making in its sales pipeline. Italy and Spain are both significant markets for QSolar and prospective clients have potential orders pending the performance of demonstration models that have now been installed. In addition to productive distribution strategies in Europe and the United States, QSolar management is pleased with the progress of our Chinese distribution partner where results are anticipated as a result of our pricing and innovative product advantages.

Qsolar profile

Qsolar is manufacturing solar PV panels under a contract manufacturing agreement in China using its proprietary patent pending Spraytek process and its own designs.Qsolar products were introduced in July 2010 and since the introduction there has been a very significant interest, orders and letters of intent from European and U.S. markets. Qsolar Spraytek panels offer several advantages over competing products in that they have significantly lower losses in hot climates due to their design, offer superior solar cell encapsulation for better protection and longer life and cost less than equivalent products in the market. Furthermore Qsolar offers solar panels with positive tolerance which means that the customer will get a guaranteed output which can be up to 5% more than the actual specifications. This leads to further savings as competitive products are offered with tolerances of +-3% which means that they can have up to 3% lower output than what is specified.

QSolar commenced trading on the Canadian National Stock Exchange (CNSX) under the symbol QSL on March 25, 2011 through a reverse take-over of Bricol Capital Corporation. For more information on QSolar please view the Listing Statement on the CNSX website, www.cnsx.ca.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report and the documents that we incorporate by reference, are forward-looking statements and can generally be identified by words such as "will," "allow," "outlook," or the negative of these terms, and other comparable terminology.

Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether Qsolar Limited is able to meet price, performance, quality and delivery requirements. Qsolar undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

Shares outstanding 41,000,000

Contact Information

  • Qsolar Limited
    Andreas Tapakoudes
    President & CEO
    403-770-8436 (FAX)