| Solar EnerTech Corp. |
1600 Adams Drive
Menlo Park, CA 94025
USA |
| Shares |
81,237,051 shares issued and outstanding as of 12/31/07
|
| Legal Counsel |
DLA Piper US LLP |
| Auditors |
Ernst & Young Hua Ming
Assurance and Advisory Business Services
23/F, The Center
989 Chang Le Road
Shanghai, China 20003
|
| Transfer Agent |
Continental Stock Transfer & Trust CO.
17 Battery Place 8th Floor
New York, New York 1000
|
| Investor Relations |
Bill Zima
ICR, Inc.
Tel: 203-682-8200
investors@solarenertech.com
|
According to the U.S. Department of Energy, worldwide demand for electricity is expected to rise from 14.3 billion megawatt hours in 2002 to 26.0 billion MWh in 2025. Non-renewable energy sources such as natural gas, oil and coal will be hard-pressed to fill the demand—especially with the rise in oil and gas prices expected to continue.
Renewable energy resources, such as solar power, will become increasingly important sources of energy throughout the world—helping to establish ongoing European and American markets for Solar EnerTech products.
Factors contributing to market demand include an increase in government environmental awareness and regulations limiting emissions from fossil fuels—solar energy addresses such environmental concerns as it consumes no fuel and produces no air, water or noise pollution. Also, a growing number of countries have established incentive programs for the development of solar and other renewable energy sources.
Another issue is the narrowing cost differential between solar and conventional energy sources—the average price of PV cells and modules has decreased by 24% from 1996 to 2003 and is expected to continue to decrease as the result of improvements in process technologies and economies of scale.
Solar EnerTech's management team will work to make the most of the opportunities presented by these market conditions. Already, the company has made significant progress in its development:
- in the process of investing $3 million USD for expansion
- recruiting a world-class team of solar researchers and scientists
- beginning infrastructure construction at the 42,000 square foot factory in Shanghai's Jinqiao Modern Science and Technology Park
- acquiring key manufacturing equipment
- establishing the materials purchasing and sales arm of the company in Silicon Valley, California
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