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QSolar Limited 25.09.2014

QSOLAR signs U.S. Distribution Agreement for specialty products and receives initial sales order

QSOLAR SIGNS U.S. DISTRIBUTION AGREEMENT FOR SPECIALTY PRODUCTS AND RECEIVES INITIAL SALES ORDER

 

Calgary, Alberta, Canada – September 25, 2014 (CSE:QSL, FSE:Q2O) – QSolar Limited (“QSolar” or the “Corporation”) is pleased to announce that it has signed a one year non-exclusive distribution agreement (the “Agreement”) for its off-grid emerging specialty solar products with Worldwide Sun LLC (“Worldwide”), whose distribution and warehouse facility is located in metro Phoenix, Arizona. The Agreement is renewable, subject to certain terms and conditions, and performance milestones being achieved. In addition, Worldwide has now provided negotiated deposits on two initial and significant container orders to be sent to the U.S. totalling approximately USD $450,000. This significant initial order will assist in meeting and exceeding QSolar’s expectations for third quarter sales as well as gross margin targets. QSolars specialty products were developed utilizing the QSolar proprietary trade secret based Spraytek99 and ESS embedded production process and opens a wide range of new applications in the solar energy market which are proprietary, unique and leading edge.

 

Worldwide is a private company that has been developing new special relationships in this new emerging specialty off-grid market with certain retail golf car distributors and local golf courses as well as large U.S. consumer retail chains and solar sub-distributors in the survival, outdoor hunting and living industry and those that wish to have off-grid lifestyles. Over the past year, Worldwide has been instrumental in providing field testing and arranging retail outlet testing and market feedback for market acceptance for QSolar’s specialty products in the U.S. This also includes product modification testing as a result of market feedback of all of QSolars off-grid specialty products including the QDrive golf car accessory kit, portable solar boxes, recreational vehicle accessory kit currently under development, the desert ready panel and QSolar QSF flexible panel for specialty applications. The first U.S. specialty product container orders for Worldwide are currently being manufactured which include QDrives, solar boxes and a HLP-4KW portable power plant unit.

 

QSolar intends to use the Agreement as an initial strategic model to commence a direct sales network to distributors in the U.S. and to develop new high margin revenue streams. QSolar identified a strategic opportunity to develop specialty products where current solar mass market participants do not have cost effective technology, any products or solutions to offer. Armed with this strategy and is already in negotiations to hire a solar product marketing sales manager in the eastern U.S., to set up further distribution and direct sales networks with other potential partners for the various off-grid specialty products.

 

QSolar’s new specialty product lines above are examples of the unique features, flexibility, and capabilities of its proprietary technology. Development of off-grid solar products will enable QSolar to enter into these emerging solar sectors with the assistance of distributors such as Worldwide that understand that off-grid solar solutions and markets that were non-existent, inadequate, or the applications deemed to be impossible with standard glass solar panel technology, and are now available on a cost effective basis with QSolar technology. These new off-grid emerging markets that QSolar is targeting have little or no competition, are potentially very large as no solutions exist, and have extremely attractive margins compared to traditional markets,” stated Mr. Andreas Tapakoudes, Chief Executive Officer of QSolar.QSolar is developing a unique suite of solar panel product supply to address lifestyle and environmental conditions, and to meet specific needs and solutions in this new emerging solar energy marketplace. With the availability of supply of alternative off-grid power, and having a constant continuous supply of uninterrupted power on a cost effective basis, QSolar and Worldwide believe this Agreement will assist to secure and underpin each party’s growth and development strategy,” further stated Mr. Tapakoudes.

 

The Worldwide Sun LLC website may be viewed at www.worldwidesun.com. The QSolar website may be viewed at www.qsolar.net.

 

About QSolar Limited

 

QSolar trades under the symbol QSL on the Canadian Securities Exchange (“CSE”) and Q2O on the Frankfurt Securities Exchange (“FSE”). There are currently 73,748,912 common shares issued and outstanding.

 

QSolar Limited (www.qsolar.net) and its wholly-owned subsidiary, QSolar Ltd., and its wholly-owned subsidiary, QSolar (Shanghai) Photovoltaic Technology Co. Ltd., develop proprietary trade secret solar related processes and technologies, and manufacture and sell proprietary solar products. The Corporation currently manufactures solar photovoltaic (PV) panels in Shanghai, China using its proprietary trade secret Spraytek® and ESS process and its own QLite and QSS family designs. 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, significant weight savings and durability features over existing competitors PV modules.

 

Additional information on the operations or financial results of QSolar Limited are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (www.cnsx.ca) and Sedar website (www.sedar.com) under the profile for QSolar.

 

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Gary Perkins, Investor Relations                                                       

Tekkfund Capital Corp.                                                                      

Telephone: 416- 882-0020                                                       

Email:              garyperkins@rogers.com

 

Karsten Busche

public eye Consulting – Berlin, Germany

Telephone: +49 30 430 589 22

Email: kb@publiceye-consulting.com

 

Andreas Tapakoudes, Chief Executive Officer                           

QSolar Limited                                                                                   

Telephone:  011-44-7534-711-503                                         

email:  andreas@QSolar-Limited.com                                         

                                                                          

 

Preston J. Maddin, Chief Financial Officer

QSolar Limited

Telephone:  403-617-0000

email:  preston@qsolar-limited.com

                                                                          

Neither the CSE nor the FSE have approved nor disapproved the contents of this press release. Neither the CSE nor the FSE accept responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements

 

Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, ‘may”, “will”, “project”, “should”, ‘believe”, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.

 

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 is able to meet price, performance, quality and delivery requirements.  Although QSolar believes that the expectations represented by any forward-looking statements and forward-looking information contained herein are reasonable based on the information available to them on the date of this document, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements or forward-looking information. 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.

 

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