Quantum Fuel and Asola Sign Supply Agreement with ersol

Quantum Fuel Systems Technologies Worldwide, Inc. announced yesterday that its German solar strategic partner, Asola Advanced and Automotive Solar Systems, has signed a 10-year supply contract with ersol Solar Energy AG for the acquisition of 155 megawatts (MW) of high-efficiency silicon photovoltaic solar cells, starting in 2008.

The potential revenue associated with the purchased ersol cells is estimated to exceed $500 million.

This agreement will avoid any potential future disruptions due to polysilicon shortages, as have been recently experienced by the solar cell industry. Quantum and Asola intend to jointly utilize the ersol cells for the manufacture of solar modules for commercial, residential, and automotive applications in both Europe and the United States.

The guaranteed supply will enable the expansion of Quantum and Asola solar modules into Germany, Spain, Italy, and France as well as into the United States, beginning in California.

“Together with Quantum and Asola, we hope to accelerate our entry into the fast growing California solar market,” said Dr. Claus Beneking, ersol CEO.

 

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