“DuPont is proud to be a part of this important trade mission because we share a commitment to meet the needs for clean energy technologies as China’s economy continues to grow,” said Douglas W. Muzyka, president – DuPont Greater China.
Hong Kong (Vocus) May 18, 2010
DuPont hosted U.S. Secretary of Commerce Gary Locke, along with several U.S. business leaders and government officials, at the DuPont Apollo Thin Film Photovoltaic (PV) R&D Centre in the Hong Kong Science and Technology Park as part of Secretary Locke’s trade mission to China.
As the first Obama Administration trade mission, Locke is promoting exports of leading U.S. technologies related to clean energy, energy efficiency and electronic energy storage, transmission and distribution.
“DuPont is proud to be a part of this important trade mission because we share a commitment to meet the needs for clean energy technologies as China’s economy continues to grow,” said Douglas W. Muzyka, president – DuPont Greater China. “China has made clean energy and energy efficiency a priority, and we believe this is a tremendous opportunity to showcase our thin film photovoltaic R&D lab and manufacturing facilities in the Asia Pacific region. DuPont Apollo represents the first total solar energy solution provider in China offering the market a one-stop thin film solution to respond and contribute to China's goal of deriving 15 percent of its energy from renewable sources by 2020.”
Secretary Locke will lead American companies on this clean energy mission to advance their export opportunities and support American jobs. The delegation will make stops in Hong Kong, Shanghai and Beijing.
Du Pont Apollo Ltd., established in 2008, is the first project under the “Shenzhen-Hong Kong Innovation Circle,” which is spearheaded by the Hong Kong SAR Government and Shenzhen Municipal Government to establish the region as a hub for innovative solar research. DuPont Apollo thin film photovoltaic modules are well-suited for commercial rooftop and large-scale solar farm applications. Thin-film photovoltaic modules are projected to be the fastest growing segment of the solar module industry because of their potential to reduce the cost of producing solar-derived energy -- helping solar power become more competitive with other forms of energy generation. The modules can generate more wattage output under diffuse lighting conditions, and consume only about 1/200 the silicon of traditional crystalline silicon solar cells, resulting in shorter energy payback times.
DuPont has been at the forefront of innovation in the photovoltaic industry since its inception over 25 years ago. Many of DuPont’s products have set standards in the industry and continue to lead with their consistent high quality and proven performance. DuPont expects its photovoltaic sales to grow over 50 percent this year, and to exceed $2 billion by 2014. DuPont’s continued growth is supported by new innovations that improve module efficiency and lifetime, and enables new photovoltaic technologies and applications, which ultimately accelerate the industry’s drive to bring costs down in line with other forms of energy.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in approximately 80 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Forward-Looking Statements: This news release contains forward-looking statements based on management’s current expectations, estimates and projections. The company does not undertake to update any forward-looking statements as a result of future developments or new information. 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 DuPont’s filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, 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 of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance, and seasonality of sales of agricultural products.
Dan Turner – United States
Olivia Chan – China