Air Products Signs LOI with Best Solar to Supply its New Nanchang, China PV facility
March 10 2009 - 9:00AM
PR Newswire (US)
Deal Marks Second Gas Supply Agreement Between Air Products and
Best Solar LEHIGH VALLEY, Pa., March 10 /PRNewswire-FirstCall/ --
Air Products (NYSE:APD) today announced it has signed a letter of
intent (LOI) to provide liquid bulk and on-site gases to China's
Best Solar Hi Tech Co., Ltd, which is building a new thin-film
photovoltaic (PV) facility in Nanchang City, Jiangxi Province,
China. The LOI between Air Products and Best Solar includes the
long-term supply of hydrogen, nitrogen, helium and argon gases.
When Best Solar's facility in Nanchang comes on-stream at its full
capacity, it will have an annual solar module manufacturing
capacity of 330 MW at Phase 1, using amorphous silicon thin-film
technology. Late last year, Air Products also signed a turnkey gas
supply contract to provide on-site, liquid bulk gases, specialty
gases and gas equipment to Best Solar which is also building a new
thin-film PV facility in the Wuzhong Economic Development Park in
Suzhou, Jiangsu Province, China. The capacities of both Best
Solar's Suzhou and Nanchang facilities will be 330MW. "We are proud
to again be selected by Best Solar to support its PV facility in
Nanchang in addition to our turkey gas contract for its Suzhou's
facility. It is a great testimonial of our supply capabilities and
leadership position in the PV market," said Corning Painter, vice
president and general manager, Global Electronics, Air Products.
"Our global PV business has shown great momentum, and we will
continue to develop new offerings to meet the growing investments
for PV markets." Air Products supplied more than 20 new projects in
the Asia region serving both the crystalline and thin-film PV
markets in 2008. The outlook for 2009 remains just as bright, as
Air Products anticipates worldwide demand for gases, materials and
equipment for PV manufacture to continue growing for the
foreseeable future. Best Solar's thin-film PV modules, which
convert sunlight directly into electricity, will be manufactured in
much the same way as thin-film transistor-liquid crystal displays
(TFT-LCD). As one of the leading suppliers to the TFT-LCD industry,
Air Products is ideally suited to supply the new facility. With the
demand for renewable energy and improved efficiency on the rise,
Air Products is well positioned to take advantage of these
developing markets with its expertise and project experience in
areas including large-scale hydrogen supply for cleaner
transportation fuels, developmental work on the hydrogen economy,
hydrogen vehicle fueling and infrastructure, leading natural gas
liquefaction technology and now the growing supply of gases and
services for the photovoltaic industry. For more information on Air
Products' photovoltaic offerings, please visit:
http://www.airproducts.com/photovoltaics. Air Products (NYSE:APD)
serves customers in industrial, energy, technology and healthcare
markets worldwide with a unique portfolio of atmospheric gases,
process and specialty gases, performance materials, and equipment
and services. Founded in 1940, Air Products has built leading
positions in key growth markets such as semiconductor materials,
refinery hydrogen, home healthcare services, natural gas
liquefaction, and advanced coatings and adhesives. The company is
recognized for its innovative culture, operational excellence and
commitment to safety and the environment. Air Products has annual
revenues of over $10 billion, operations in more than 40 countries,
and 21,000 employees around the globe. For more information, visit
http://www.airproducts.com/. ***NOTE: This release may contain
forward-looking statements. Actual results could vary materially,
due to changes in current expectations. DATASOURCE: Air Products
CONTACT: US: Robert Brown, +1-610-481-1192, , or Asia, Jessica
Cheng, +1-852-2863-0585, , or Investor Inquiries: Nelson Squires,
+1-610-481-7461, , all of Air Products Web Site:
http://www.airproducts.com/
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