Worldwide Energy and Manufacturing: New South Korean Contract Valued at $6 Million
Worldwide Energy and Manufacturing USA, Inc., a U.S.-based China manufacturing company specializing in products for customers in the industries of solar energy, aerospace, wireless telecommunications, medical equipment and automotive, today announced it has received Korean certification for its solar module products and, subsequently, has been awarded a new South Korean contract for photovoltaic (PV) modules amounting to $6 million because of this obtained International Standards (IEC) certification.
Worldwide Energy's Chief Executive Officer Jimmy Wang stated: "This contract validates our solar market research and proves there is a good demand for our Amerisolar panels in South Korea. With our approved Korean and UL certifications, which allow faster access to our customers, and our technologically advanced solar modules, we expect this new order, together with our first order in the U.S. announced a month ago, will mark the beginning of many more orders for us in the U.S. and Korean markets. Based on our market analyses, we expect to generate millions of dollars in sales in these markets this year."
The solar energy industry continues to see strong growth. According to Lux Research, the global solar energy market is expected to double in the next five years from $36 billion in 2008 to $70 billion in 2013. The European Photovoltaic Industry Association (EPIA) expects global incremental solar power installation to grow from 5.6 GW in 2008 to 12.6 GW in 2013. Much of the growth is expected to occur in the U.S. market, fueled by recent government incentives for utility companies to develop PV projects.
Worldwide's mono and polycrystalline modules feature a two-bus bar cell design which maximizes the cell's light absorbing surface area, giving the modules more consistent performance. Their solar modules also have a weather-resistant frame constructed of aluminum alloy for endurance in rugged weather conditions and are given a double oxidation coating for additional protection against the elements, providing for longer-lasting, more durable modules.
Worldwide currently sells its advanced solar modules under the brand name, "AmeriSolar," in eight countries, including Germany, Italy, Switzerland, Portugal, France, Spain, Australia, United States and South Korea.
"We continue to focus our sales and marketing efforts on increasing our customer base for our solar modules in Europe and other parts of the world, including North America and South Korea. Our solar brand AmeriSolar continues to gain recognition and widespread acceptance in the global marketplace," added Mr. Wang.
About Worldwide Energy and Manufacturing USA, Inc.
Worldwide Energy and Manufacturing USA, Inc. ("Worldwide"), headquartered in South San Francisco, California, is a 15-year-old engineering-oriented firm specializing in photovoltaic (PV) panel, mechanical, electronics and fiber optic products manufacturing. The company's worldwide customer base includes the industries of solar energy, wireless telecommunications, aerospace, automobiles and medical equipment. Subsidiaries include: Worldwide Energy and Manufacturing Ningbo (Solar factory) Co., Ltd, Shanghai Intech Electro Mechanical Products Co. Ltd., Shanghai Intech Electronics Manufacturing Co. Ltd., Shanghai Intech Precision Mechanical Products Manufacturing Co. Ltd. and Shanghai Intech Electric and Electronics Co., Ltd., located in Shanghai and Ningbo, China.
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