Solar Energy Initiatives announces strategic PV collaboration with ITRI, Taiwan

Solar Energy Initiatives Inc. and the Industrial Technology ResearchInstitute (ITRI) Taiwan announced a broad business and technicalcollaboration agreement to build, integrate, test and commercialize aseries of new solar products and solutions.

Worldwide, the solarPV market is expected to reach $34 billion by 2013. The United Stateseconomic stimulus bill, signed into law in February 2009, is providingbillions of dollars through the US Department of Energy (DoE) forrenewable energy investment in US companies, including those engaged insolar energy development and manufacturing.

ITRI isestablished as a clear leader in offering independent technologydevelopment services to the Solar Industry, operating state-of-the-artfacilities in Hsinchu, Taiwan. In collaboration with Solar EnergyInitiatives, ITRI will integrate the technologies into world classproducts in such solar solutions as LED Lighting, Silicon Solar CellProducts, Si Thin Film Solar Cell, Module Encapsulation, Dye-SensitizedSolar Cell and Printable CIGS.

“The collaboration agreementsignals the intent of both companies to establish an accelerated growthplatform for the industrialization of ITRI’s patented solar technologyinto the North American Market,” said, Robert Pimentel, BusinessDevelopment Director of ITRI.

“SNRY will be instrumental in thesales and distribution of our award winning patented technologies thatwill have the ability to generate significant revenues for SNRY. It isITRI’s mission to develop advanced solar photovoltaic technologies andto commercialize them in a timely manner and to enhance thecompetitiveness of Taiwan’s solar industry."

“Our extensivestrategic agreement with ITRI includes the building of a world-classSolar Energy Website, the development of a Solar Energy UniversityELearning Certification Platform and providing cutting-edge solarproducts and solutions in North America,” commented, David Fann, CEO ofSolar Energy Initiatives.

“SNRY and ITRI will jointly pursueglobal Tender and RFQ projects together. Under this agreement ITRI willsupply Engineering and Technology Support and SNRY will manage allsales and integration services. Our agreement with ITRI has the abilityto significantly impact both our bottom and top line growth throughoutthe remainder of our 2010 fiscal year and beyond."

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