Friday, 17 August 2018 05:40 PM
(CSE:QSL, FSE:Q2O) – QSolar Limited (“QSolar” or the “Corporation”) is providing an update pursuant to its December 17, 2013, January 7, 2014 and May 13, 2014 news releases regarding the development of the QSS solar module range of products currently undergoing testing in the independent TUV SUD contract laboratory in the United States. The Corporation reports that TUV SUD, (Jiangsu TUV Product Service Ltd., Shanghai Branch)(“TUV SUD”), has advised upon inquiry by the Corporation, that TUV SUD and TUV SUD UL certification results, are not anticipated to occur any earlier than the week of July14, 2014 based on current testing to date. The revised estimated timing for results is based on TUV SUD’s best estimate of available personnel and resources.
The purpose of the testing is to obtain TUV SUD UL1703 certification, CSA UL Mark, including IFE CSA audit, fire test, TUV SUD IEC61215, IEC61730 certification, and universal CB report and certificate for access for country specific certifications for the QSS 250W product family.
TUV SUD has confirmed that one of the more stringent tests under certification commenced May 23, 2014 and requires approximately 1,000 hours or approximately 42 days to complete this particular test under TUV SUD protocols. QSolar has been further advised that, as part of the certification procedures, upon completion of successful United States laboratory testing, a factory audit will be performed on QSolar’s manufacturing processes which produce the QSS250W. This audit will be conducted in the QSolar’s Shanghai manufacturing facility. TUV SUD advised this procedure would be scheduled by TUV SUD on a priority basis, subject to available personnel and resources.
QSolar will immediately provide updates should any further material information arise in the interim.
About QSolar Limited
QSolar trades under the symbol QSL on the 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 Karsten Busche
Tekkfund Capital Corp. public eye Consulting – Berlin, Germany
Telephone: 416- 882-0020 Telephone: +49 30 430 589 22
Email: [email protected] Email: [email protected]
Andreas Tapakoudes, Chief Executive Officer Preston J. Maddin, Chief Financial Officer
QSolar Limited QSolar Limited
Telephone: 011-44-7534-711-503 Telephone: 403-617-0000
email: [email protected] email: [email protected]
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.