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The Victoria-Suntech Advanced Solar Facility (VSASF) was officially launched today in Melbourne, with the Victorian Minister for Environment and Climate Change, and Innovation, Gavin Jennings MLC, on hand to commemorate the event.
The facility, a collaborative venture between Swinburne University of Technology and Suntech Power Holdings Co., Ltd (NYSE: STP), one of the world's leading producers of solar panels, has been partially funded by a AUD3 million grant under the Victorian Science Agenda Investment Fund. The collaboration will provide a platform for the partners to commercialise NANOPLAS, a revolutionary nanoplasmonic solar cell technology being developed at Swinburne.
Heading up the VSASF will be Professor Min Gu, Director of the Swinburne Centre for Micro-Photonics, and Dr. Zhengrong Shi, Suntech's Chairman and CEO as well as a fellow of the Australian Academy of Technological Sciences and Engineering. According to Professor Gu the group's strong mix of research and business expertise will put them in a unique position to research, develop and commercialise the innovative solar cell technology.
"This new NANOPLAS technology will allow for the efficient collection of solar energy from a wider colour spectrum than cells currently being developed in other laboratories," he said. "This could make them twice as efficient as the current generation of cells, which would also make them significantly less costly to produce and therefore to use."
Professor Gu said that a major advantage of the VSASF is that it will allow Swinburne researchers to work closely with Suntech throughout the research and development stages. This will ensure that the NANOPLAS technology can be easily transferred to the production line and complement Suntech's industry-leading Pluto(TM) solar cell technology.
Cooperation between Suntech and Swinburne began in April 2009 when the two parties announced their partnership for the development of nanoplasmonic solar technology. As an extension of that agreement, the VSASF is expected to promote further cooperation among Australia's world-leading solar research community and could potentially be a precursor to a Suntech production facility in Australia.
"By combining Swinburne University's strong research capabilities and Suntech's R&D and manufacturing platform, we can accelerate the development of cutting-edge technologies to drive down the cost of solar," said Dr. Zhengrong Shi. "As solar reaches grid parity, in Australia and around the world, we are powering a revolution that will permanently redefine how the world uses energy."
In recognition of his contributions to energy and environmental research and development, Dr. Zhengrong Shi received an honorary doctorate from Swinburne University following the VSASF launch event.
Safe Harbor Statement:
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and includes the ability to commercialize NANOPLAS technology, the potential for NANOPLAS technology to make solar cells more efficient, and the establishment of a Suntech manufacturing facility in Australia. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
About Suntech Power Holdings
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces industry-leading solar products for residential, commercial, industrial, and utility applications. With regional headquarters in China, Switzerland, and the United States, and gigawatt-scale manufacturing worldwide, Suntech has delivered more than 9,000,000 photovoltaic panels to over 1,400 customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide everyone with reliable access to nature's cleanest and most abundant energy source.
About Swinburne University of Technology
Swinburne University of Technology has an international reputation for quality career-orientated education and commitment to research. With a strong teaching and learning program with applied vocational emphasis, Swinburne has established many strong links with industry.
The university houses a number of globally recognised and innovative research centres including the Centre for Astrophysics and Supercomputing and the Centre for Micro-Photonics. Currently under construction, Swinburne's Advanced Technology Centre will bring greater research and teaching excellence to the areas of optical physics, sustainable infrastructure and advanced manufacturing.
Swinburne has more than 40,000 students and 2,000 staff across five campuses in the greater Melbourne region, as well as strong international networks through its campus in Sarawak, Malaysia. The university continues to expand its reach by implementing innovative teaching and learning practices, increased spending on infrastructure and developing global partnerships. For more information visit www.swinburne.edu.au
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Suntech Power Holdings Co., Ltd.
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