SYDNEY and WUXI, China, May 17, 2012 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, today announced that its chief technology officer, Dr. Stuart Wenham, was awarded the prestigious Australian Collaborative Innovation Awards at a gala dinner at the National Wine Centre in Adelaide on May 16, 2012. Dr. Wenham, along with Scientia Professor Martin Green, ARC Photovoltaics Centre of Excellence, University of New South Wales, received this accolade for their collaboration in developing the industry-leading Pluto cell technology, which recently set a world record 20.3% efficiency for a production cell using standard commercial-grade p-type silicon wafers.
"This award is a testament to Suntech's long-standing collaboration with the University of New South Wales to continually develop ground-breaking innovative solar technology that will ultimately make solar competitive with fossil fuels," said Dr. Stuart Wenham, Suntech's Chief Technology Officer, and Director of the ARC Photovoltaics Centre of Excellence at the University of New South Wales.
"University of New South Wales' collaboration with Suntech exemplifies how research institutions around the world can commercialize innovative technologies," said Scientia Professor Martin Green, ARC Photovoltaics Centre of Excellence, University of New South Wales. "For any technology to be scalable, it is imperative that research teams work hand-in-hand with manufacturing experts to develop commercially-viable products. Without collaboration with Suntech, and funding from Australian Solar Institute, the Pluto cell technology would have remained a laboratory prototype, and would not be the commercial success it is today."
Advanced cell and module technology developments are a hallmark of Suntech's success in leading solar technology innovation. The Pluto cell technology, which is developed by Suntech's research and technology development (R&D) team in collaboration with the University of New South Wales, underscores Suntech's investment in R&D that delivers the best solar technology to its customers at an affordable price. Suntech will maintain and extend this collaboration through Suntech R&D Australia Pty Ltd, established in 2011, where project activities target the manufacturing implementation of advanced cell technologies.
Suntech has a rich heritage of delivering affordable solar innovation, and has been applauded globally for its efforts. MIT Technology Review recognized Suntech as one of world's 50 most innovative companies; Fast Company recently named Suntech one of the top 10 most innovative companies in China; and EuPD awarded Suntech the 'Top Brand PV' seal, a well-respected award worldwide. In December 2011, PV Tech awarded Suntech's crystalline silicon solar panel as the most innovative solar product of 2011.
To learn more about Suntech's efforts in pursuing innovation excellence, please visit the Suntech Connect blog, like us on Facebook or follow us on Twitter @Suntech_Connect for regular updates.
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 25,000,000 photovoltaic panels to over a thousand 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.
For more information about Suntech's people and products visit http://www.suntech-power.com
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 including, innovative solar technology will ultimately make solar competitive with fossil fuels; and Pluto cell technology underscores Suntech's investment in R&D that delivers the best solar technology to its customers at an affordable price. 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.
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