QSolar Limited

June 21, 2011 09:01 ET

QSolar's Chinese Subsidiary Qualifies for 17% Export Incentive and Appoints Head of its Shanghai Operations

CALGARY, ALBERTA--(Marketwire - June 21, 2011) - QSolar Limited ("QSolar" or the "Company") (CNSX:QSL) is pleased to announce that its new subsidiary in Shanghai has qualified for the Chinese export incentive at the 17% maximum rate of the dollar value of its proprietary solar panel exports from China.

Andreas Tapakoudes, President & CEO of QSolar commented "This is a very significant development for QSolar as the 17% incentive represents a net increase in the Company's margins and will provide us with an even better pricing advantage and lead to higher profitability. The combination of our proprietary technology, low cost unique manufacturing processes and the 17% rebate incentive will enable QSolar to compete in any market and increase our market presence worldwide.

In addition, QSolar announces that it has retained Dricus de Rooij as head of the Company's Shanghai operations. Mr. de Rooija brings related industry experience to QSolar, most recently as a director of Kisun Renewable Energy Industries Ltd. in Shanghai and prior to that he was a service segment manager with Hewlett Packard in the Netherlands. Mr. de Rooij's educational background includes a B.Sc. from Zuyd University in Maastricht, Netherlands, in European studies and a M.Sc. in International Business from the IESEG School of Management, Lille France.

Dricus de Rooij commented, "In an industry where most solar products are standardised, QSolar distinguishes itself with unique solar panel designs and manufacturing technology that will significantly reduce the production costs of solar panels. I'm pleased to be in a position to contribute to the expansion of QSolar's manufacturing and to manage their growing production facilities in China."

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

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