Aurora Solar Technologies Announces Record-Setting Order and Provides Corporate Update
North Vancouver, British Columbia--(Newsfile Corp. - September 3, 2019) - Aurora Solar Technologies Inc. (TSXV: ACU) (the "Company") is pleased to announce that it has received its largest single order to date by unit volume, to supply a major China-based manufacturer of high-efficiency PERC solar cells. This order, for twenty DM-110e measurements systems, follows an initial order in June from the same customer and is expected to ship by October 2019. Since January of 2019, the company has now received orders with a total value in excess of three million Canadian dollars. The Company is also pleased to provide an update on ongoing initiatives, building on the Company's recent sales momentum.
"We are pleased to have been awarded significant follow-on business from one of the largest solar cell manufacturers in the industry," said Gordon Deans, Aurora's Chief Executive Officer. "This continuing order stream is indicative of both the renewed growth in the Chinese solar manufacturing market, and the fit of our business strategy and products for manufacturers focused on cost-effective high yield PV cell production," he continued.
In 2018, Aurora instituted an initiative to more aggressively develop business in China. The Company opened a representative office in Shanghai, developed a variant of our DM measurement system specifically designed for Chinese market needs (the "DM-110e"), increased our scope of pre-sale evaluation trials, and recruited market partners in China to increase our visibility and order flow.
Following the 2018 ramp-up, this initiative is now successfully underway. Most of the three million Canadian dollars in orders this calendar year-to-date have been received from Chinese manufacturers and automation system providers. As planned, they followed evaluation trials initiated in the latter portion of 2018 and came from a mixture of sales developed directly by Aurora and in cooperation with our new market partners in China, most significantly Saratoga Technology.
Aurora has now established volume business with three of 2019's top-ten solar cell manufacturers as defined by Solar Media, and two market-dominant automation system providers. We are also in the evaluation trial phase with one other top-ten manufacturer. With the orders now in place and this strong position amongst the largest players, Aurora has dramatically increased its credibility and brand recognition in the dominant China market.
Looking ahead, Aurora is bidding on several large repeat orders both in China and elsewhere in east Asia. Over the coming months, we anticipate receiving further volume orders. The Company also anticipates market introduction of new measurement and analytical products during the latter half of the current fiscal year.
About Aurora Solar Technologies:
Aurora Solar Technologies is a leader in the development and delivery of inline process measurement, analysis and control systems for solar cell manufacturers. We believe that solar power will dominate the renewable energy field, and our mission is to bring quality and profitability to every customer through superior control of critical processes during solar cell manufacturing.
Aurora's products are used by some of the world's most advanced and respected solar cell manufacturers. With headquarters near Vancouver, Canada, Aurora has operations in Shanghai, China and partners in all major solar manufacturing markets. Aurora is a public company, traded on the TSX Venture Exchange (ACU) and is a two-time TSX-V Top 50 winner. Aurora's website is located at www.aurorasolartech.com.
For further information contact:
Gordon Deans, P.Eng.
President and Chief Executive Officer
Aurora Solar Technologies Inc.
Phone: +1 (778) 241-5000
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