JHL Jetion Solar

RNS Number:9140F
Jetion Holdings Limited
18 October 2007


For immediate release                                            18 October 2007


                            Jetion Holdings Limited


                          ("Jetion" or "the Company")


   European Joint Venture, Manufacturing Update & Increased Module Production


Jetion Holdings Limited (AIM: JHL) the manufacturer of solar cells and modules,
is pleased to announce the formation of a European joint venture and also
further developments with respect to its manufacturing capabilities, both of
which are designed to capture more of the value chain and to continue to improve
margins in the short to medium term.


European Joint Venture


The Company today announces that it has received PRC government approval to
establish Jetion Europe Ltd with two partners, which will enhance the Company's
distribution resources and capacity in Europe. Jetion's partners in the new
venture are Andreas Gruenberg of Zurich, Switzerland and Sunlynx Anstalt, based
in Liechtenstein. In line with the Company's stated strategy, the joint venture
will develop closer ties to end customers in the European solar market.


Jetion owns 51% of the new company and the remaining 49% is divided equally
between Jetion's two partners both of whom have experience in solar
installations in the European market. The majority of Jetion's sales are
exported, mostly to Europe.


Manufacturing Update


Third and Fourth Production Lines


The Company is pleased to announce that orders have now been placed for the
equipment for the third and fourth solar cell production lines. The equipment is
expected to be delivered in the middle of 2008 and on commissioning will double
total capacity to 100MW per annum by the end of 2008.


Jetion has also recently commissioned a second wafer slicing machine, as part of
its strategy to capture more of the value chain. Jetion's two wafer machines
have a capacity of 150,000 wafers per month.


As announced in the Interim Results on 24 September 2007, Jetion's wholly owned
Chinese subsidiary Jiangyin Jetion Science & Technology Co., Ltd., has signed
two significant contracts for the supply of solar silicon wafers with existing
suppliers. The additional supply contracts will enable Jetion to satisfy 90MW of
production output over the 2008-10 period on terms that are more favourable on
price than its existing contracts, and cover approximately one third of its
anticipated production requirements up to the end of 2010.


Both of these supply contracts will contribute to ensure a long term and stable
supply of raw materials for Jetion along with the agreements outlined in the
Company's Admission Document of 3 July 2007.


Increased Module Production


Increased resource has been allocated to the production of solar modules in
order to further improve margins, with production capacity increasing
substantially to 35MW per annum.


Jetion has received orders for all of its forecast module production for the
remainder of the year.


Commenting on these developments, Dipesh Shah, Chairman of Jetion said:


"The new joint venture will strengthen our business flow into our key market of
Europe and we look forward to building the business over the coming months and
years.


"The Company is aggressively developing activities across our operations to
increase our position in the solar power value chain and to capture additional
margin business. The increase in module production and purchase of additional
wafer slicing equipment assists with this strategy - and with the targeted
capacity increases scheduled for the end of 2008, we are confident that our long
term objectives remain on track."


For further information please contact:

Dipesh Shah, Chairman                                              020 7466 5000
Jetion Holdings Limited

Mark Edwards, Ben Willey, Christian Goodbody                       020 7466 5000
Buchanan Communications

Adrian Hadden, Adam Cowen                                          020 7523 8350
Collins Stewart Europe Limited




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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