NANJING, China, March 22, 2013 /PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, today announced that its Chief Technology Officer, Dr. Jianhua Zhao, and its Head of Research and Vice President, Dr. Aihua Wang, have jointly received the Advance Global Australian Award 2013. Dr. Zhao and Dr. Wang are the first Chinese-Australians ever to receive this award. In partnership with the Australian Government and the Australian Financial Review, the award ceremony was held at the Museum of Contemporary Art in Sydney on March 21, 2013.
The Advance Global Australian Awards recognise and honour Australians who live overseas and exhibit remarkable talent, exceptional vision and ambition, and celebrate those who are leaders and innovators. Nominations are sought from candidates across several industries. The Advance Global Australian Awards are the only awards to recognise the important contributions of the more than one million Australians living abroad. Dr. Zhao and Dr. Wang were nominated by Professor Martin Green, a pioneer in the solar photovoltaic field. Candidates are evaluated by the following stringent criteria, including demonstrated leadership, vision, action and innovation in their field. Dr. Zhao and Dr. Wang were winners in the clean technology category.
In the same ceremony, Dr. Zhao and Dr. Wang received a second award, the Australia in the Asian Century Award, for their contribution in the Asia region. Four out of twelve of the Advance Global Australian Award winners are living and working in the Asia region. Australia Prime Minister, the Hon Julia Gillard, also made a video speech to them to endorse this Australia in the Asian Century award.
Dr. Zhao and Dr. Wang set the world record for the highest lab efficiency of solar cells in 1989. Since then, they have broken their own record on numerous occasions, most recently in 1999, when they achieved a lab efficiency of 24.7%, which was later corrected to 25.0%, which remains the highest level achieved in the world so far. Furthermore, Dr, Zhao and Dr. Wang are now leading China Sunergy's participation in an 863 program, a National High Technology Research and Development Program in China that supports and encourages the development and commercialization of solar cells with a high efficiency rate (over 20%) and a low production cost. China Sunergy's lab results reached an efficiency rate of 20.29% last December, and the objective for the next phase of research and development is to stabilize this efficiency rate and to start pilot production by the end of 2013.
Mr. Lu Tingxiu, Chairman of China Sunergy said, "We are excited and happy for the couple to receive this award, which is an important recognition for their contributions to drive solar technology forward. We are proud of their contributions to the industry as well as to China Sunergy. As co-founders of China Sunergy, they have shaped the company's advanced technology and allowed us to provide customers with efficient and cost-effective products. We remain heavily committed to research and technological innovation under their leadership."
"We are greatly honored and pleased to receive this award. We have been deeply involved in this industry and will continue to focus on research and development projects at China Sunergy that will further advance the efficiency and quality of our products," Dr. Zhao and Dr. Wang remarked.
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (NASDAQ:CSUN) designs, manufactures and delivers high efficiency solar cells and modules to the world from its production centers based in China and Turkey. China Sunergy also invests in high potential solar projects. Founded in 2004, China Sunergy is well known for its advanced solar cell technology, reliable product quality, and excellent customer service.
For more information, please visit http://www.chinasunergy.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts in this announcement are forward-looking statements. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, demand for and selling prices of the Company's products, execution of our strategy to expand into downstream solar power businesses, general economic and business conditions; the Company's ability to attract or retain qualified senior management personnel and research and development staff; future shortage or availability of the supply of raw materials. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
China Sunergy Co., Ltd.
SOURCE China Sunergy Co., Ltd.