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

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Perfectenergy 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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