Quantum Solar Power Corp. Appoints Former BP Solar Executive as Corporate Development Vice President
August 26 2011 - 6:32PM
Marketwired
Quantum Solar Power Corp. ("Quantum") (OTCBB: QSPW),
www.quantumsp.com, is pleased to announce the appointment of Stella
Guo as a Director and as Vice President of Corporate Development
effective September 1, 2011. Ms. Guo will assist the Company with
its operations in Asia, including, but not limited to, strategic
planning, developing strategic partnerships, and facilitating
agreements with Asian manufacturing partners.
Prior to joining Quantum, Ms. Guo was Regional Director for BP
Solar. Named by Asia Law Business magazine as "China's Top 10
In-house Counsels," Ms. Guo held a series of management positions
over the past fifteen years with British Petroleum, who benefited
from her general management, business development, merger and
acquisitions and corporate legal expertise. Ms. Guo holds a Master
in Commercial Law from the University of Melbourne in Australia and
a Bachelors in Commercial Law from SunYat-Sen University in
China.
Under the terms of her Employment Agreement, Ms. Guo will
receive a salary of $100,000 US per year and options to purchase
1,000,000 shares of the Company's common stock. The Agreement is
for a term of one year, renewing automatically for successive one
year periods, if no notice of termination has been provided.
Daryl Ehrmantraut, President and CEO of Quantum, said, "We look
forward to working with Stella Guo in establishing our presence in
China. China is working hard to establish itself as a major player
in the solar power business. By 2020, China's government is
committed to raising the share of renewable energy (excluding
hydroelectric power) in the energy mix to 6%, from their current
1.5%. We believe that partnerships between Chinese companies and
Quantum along with our ground breaking NGD™ technology could help
Chinese solar companies achieve their ambitious goals."
About Quantum Solar Power Corp. Quantum
Solar Power Corp. is developing a "Next Generation Device" (NGD™)
photovoltaic technology. Quantum's NGD™ is a patent pending,
laboratory model that utilizes a new approach to solar power
conversion with the potential to remove the necessity of utilizing
expensive silicon semiconductor-based technologies. We believe
Quantum's NGD™ technology has the potential to match the efficiency
of crystalline silicon PV at the cost of thin film PV. The
anticipated NGD™ technology is free of any rare element
dependencies found in other current solar technologies. We believe
Quantum has the potential to create solar cells (through
manufacturing partnerships) at significantly less cost per watt
than current technologies. Quantum Solar Power has offices in the
U.S. and Canada and can be found on the web at:
www.quantumsp.com
Forward-Looking Statements This news
release contains forward-looking statements regarding future events
and Quantum's future results that are subject to the safe harbors
created under the Securities Act of 1933 (the "Securities Act") and
the Securities Exchange Act of 1934 (the "Exchange Act") and
constitute "forward looking information" within the meaning of U.S.
securities laws. These statements include statements about
Quantum's planned technological development plan and are based on
material factors and assumptions including Quantum's management's
current expectations, estimates, forecasts, and projections about
the industry in which Quantum operates and the beliefs and
assumptions of Quantum's management. Words such as "expects,"
"anticipates," "targets," "goals," "projects," "intends," "plans,"
"believes," "seeks," "estimates," "continues," "may," variations of
such words, and similar expressions, are intended to identify such
forward-looking statements. In addition, any statements that refer
to projections of Quantum's future financial performance, Quantum's
anticipated growth and potentials in its business and other
characterizations of future events or circumstances are
forward-looking statements. Readers are cautioned that these
forward-looking statements are only predictions and are subject to
risks, uncertainties, and assumptions that are difficult to
predict, including the risk that Quantum's technological
development plan may not be successful, and those risks identified
in Quantum's Quarterly Report on Form 10-Q for the fiscal quarter
ended March 30, 2011. Therefore, actual results may differ
materially and adversely from those expressed in any
forward-looking statements. Quantum undertakes no obligation to
revise or update any forward-looking statements for any reason.
Media Contact: Nancy Tamosaitis Vorticom, Inc.
212.532.2208 nancyt@vorticom.com
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