DuPont and Suntech Sign Strategic Agreement
Key Collaboration Seeks to Expand Solar Energy Adoption
|Contact: Ellen Pressley|
WILMINGTON, Del., Feb. 1, 2012 -- DuPont and Suntech Power Holdings Co., Ltd., the world’s largest producer of solar panels, have signed a strategic agreement to help increase the supply of photovoltaic materials and technologies for the growing global market for solar energy. The agreement focuses on technology advancements, supply chain optimization cost reduction initiatives, and DuPont™ Tedlar® polyvinyl fluoride film supply. The companies also are pursuing co-marketing opportunities. The companies’ goal is to achieve faster and broader adoption of solar energy to reduce the world’s dependence on fossil fuels. They intend to achieve the goal by further improving the technology for solar energy and helping reduce its costs and building greater awareness of its benefits to consumers.
“We’re partnering with leading photovoltaic component suppliers around the world as we continue to make solar affordable for everyone, everywhere. With innovative companies like DuPont, the United States is a major contributor to the global photovoltaic supply chain and a net exporter of solar products to China and global markets,” said Eric Luo, senior vice president of global supply chain, Suntech. “Creating higher efficiency solar cells and further extending the long life of solar modules is critical to achieving affordable solar power, and we’ve worked closely and very successfully with DuPont in this regard. We’re taking our collaboration to the next level with this agreement.”
In November 2011, Suntech recognized DuPont with its annual Supplier Excellence Award for providing superior supply and technical service, product innovation and collaboration. DuPont supplies DuPont™ Solamet® photovoltaic metallization pastes to help enhance the efficiency of solar cells made by Suntech, as well as DuPont™ Tedlar® polyvinyl fluoride film used in protective backsheets for Suntech solar modules. These materials are part of DuPont’s broad and growing portfolio of products that improve the efficiency and lifetime of solar cells and modules, and help reduce overall system costs to make solar more competitive with traditional sources of energy.
“DuPont and Suntech have the highest standards for product quality, and sustainability is an important value for each of us. With these shared values, we look forward to bringing our offerings to more consumers as the global industry continues to grow,” said David B. Miller, president, DuPont Electronics & Technologies. “Global partnerships, such as our work with Suntech, have been central to the solar industry’s growth. Our work together in Masdar is a prime example of the benefits of our collaboration, and of solar energy.”
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 20 million photovoltaic panels to over 1,000 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, please visit http://www.suntech-power.com.
DuPont™ Solamet® photovoltaic metallizations and Tedlar® polyvinyl fluoride films are part of a broad and growing portfolio of products represented by DuPont Photovoltaic Solutions, which connects science and technology from across the company on a global scale to help support the dramatic growth in the photovoltaic industry. To learn more about DuPont Photovoltaic Solutions, visit http://photovoltaics.dupont.com.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
Suntech and DuPont have signed a strategic sourcing agreement to drive faster and broader adoption of solar energy, reducing the world’s dependence on fossil fuels. (high resolution image)