QSolar Limited

June 16, 2011 09:01 ET

QSolar Files an Application for UL Certification in the United States

CALGARY, ALBERTA--(Marketwire - June 16, 2011) - QSolar Limited ("QSolar" or the "Company") (CNSX:QSL) is pleased to announce that it has filed an application to obtain Underwriters Laboratories (UL) certification in the United States. UL certification is required for the Company to sell its' products in the United States and the process of receiving this certification is substantially the same as the European certification process which QSolar has already received. The UL certification is required in order for the Company to fulfil the $74.5 million letter of intent received from Commercial Solar Design Inc. of California as previously announced on April 21, 2011.

Andreas Tapakoudes, President & CEO of QSolar commented, "We fully expect to complete the UL certification this year. This will be an important milestone because it opens up the very large US marketplace to QSolar's leading Spraytek, Kristal and Kristal Rainbow product lines and provides eligibility for the various incentive programs that are available by US regulators."

QSolar profile

QSolar manufactures solar photovoltaic (PV) panels in its new manufacturing facilities in Shanghai China, as well as the contracted manufacturer in Shenzhen using its proprietary patent pending Spraytek process and its own designs. QSolar products were introduced in July 2010 and have attracted significant interest, orders and letters of intent from European and U.S. markets. QSolar Spraytek panels offer several advantages over competing products as 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 addition, 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.

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)