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Advanced Energy Industries, Inc.
Strategic agreement with SGEG positions Advanced Energy to expand Solaron inverter sales into China
FORT COLLINS, Colo., October 28, 2009—Advanced Energy® Industries, Inc. (Nasdaq: AEIS) announced today that it has entered into a strategic alliance with Shanghai Guangdian Electric Group (SGEG). Through this agreement, SGEG will market AE's expanding line of Solaron grid-tie photovoltaic (PV) inverters in China. Based in Shanghai, SGEG is a leader in the design, manufacturing, and marketing of power electronics and power distribution products in China. With a decade of successful experience with other US-based companies and existing relationships with top Chinese utilities, SGEG is well positioned to provide Advanced Energy inverters to companies in China.
"We are delighted to enter into this strategic agreement with SGEG," said Dr. Hans Betz, president and CEO of Advanced Energy Industries, Inc. "AE's Solaron products and SGEG equipment provide the ideal bundled power solution for solar project developers. Marketing AE's Solaron line through SGEG's relationships and experience will deliver world-class solar power products and service to the expanding utility-scale market in China."
SGEG's president and chairman of the board, Dan Yan, remarked, "AE and SGEG are perfect partners to capture the rapidly emerging Chinese solar utility market. The synergies between SGEG's platform and AE's technology will create powerful results for our customers."
To learn more about AE's Solaron inverter solutions during Solar Power International 2009, visit http://www.advanced-energy.com/en/SOLAR2009.html and the company in booth #2360. To learn more about SGEG, please visit: http://www.sgeg.cn/en/.
About Advanced Energy
Advanced Energy is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Specifically, AE targets solar grid-tie inverters, solar cells, semiconductors, flat panel displays, data storage products, architectural glass and other advanced applications.
AE operates in regional centers in North America, Asia and Europe and offers global sales and support through direct offices, representatives and distributors. For more information, go to www.advanced-energy.com
This news release may contain forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Please refer to the company's SEC reports for a listing of such factors.
Advanced Energy® and Solaron® are trademarks of Advanced Energy Industries, Inc.