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Perfectenergy to build 2 new solar cell production facilities with 200MW total

12 November 2007 | Solar Cell: News

PerfectenergyPerfectenergy International Limited (OTCBulletinBoard: PFEN) has said that it has received significant land and tax concessions from the Shanghai government to enable the construction of two new solar cell production facilities with 200MW of total new production capacity in the Shanghai Zizhu Science-Based Industrial district of Shanghai, China.

"The new facility will enable our business to meet our worldwide customers' rapidly growing demands for solar products and accelerate our leading product development activities," commented Jack Li, CEO of Perfectenergy International Limited. "This also demonstrates Shanghai's continued support and recognition of the importance of solar power."

The Company recently closed on approximately $18.4 million of equity financing through the sale of common stock and warrants in August 2007 for R&D and capacity increases.

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