Thursday, July 12, 2007

China Sunergy rises on patent announcement

July 12, 2007

The week's solar stock euphoria continued with an announcement today from China Sunergy (NASDAQ: CSUN) that it has received patent approval on a new N-type solar cell.

Shares of China Sunergy are up 5 percent, or $0.64, to $11.80 this morning. The stock had slid the last two weeks from its post-IPO high of almost $14。

The State Intellectual Property Office of The People's Republic Of China ("SIPO") approved a patent for 20 years on the company's new N-cell design.

China Sunergy commericalizes both P and N-type materials, both of them traditionally used in "p-n junction" solar cells, the most common sort of solar cell.

China Sunergy has also submitted a patent application to SIPO for P-type selective emitter cell technology and expects approval in 2009.

''Our strong new product pipeline, which will include P-type selective emitter cells and N-type cells, and the exciting progress in commercializing the former, is giving us confidence that we will be one of the technology leaders in the years ahead. Furthermore, this will also help us address the raw material supply tightness that the industry is experiencing at the moment," said Tingxiu Lu, Chairman and CEO of China Sunergy.

China Sunergy sells solar cell products to Chinese and other module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets.

It's been a generally great week for Asian and other solar stocks, with customer wins and other positive news driving many in the sector upwards

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