Apollo Solar Energy Inc. Announces Completion of Phase I Solar Photovoltaic Industry Park Construction

Apollo Solar Energy, Inc., a leading vertically integrated miner, refiner and producer of tellurium (Te) and high-purity tellurium based metals for specific segments of the electronic materials market in the People’s Republic of China, announced that in October 2008, it completed its Phase I construction of the plant which started on April 8, 2007. Production has begun immediately after the completion of the construction. The Company hosted its first Annual Autumn Sales Event between October 30 – November 2, 2008 at the Chengdu Homeland Hotel, Sichuan province, China.

Phase I of the construction was a 15 hectares Solar Photovoltaic Industry Park, a new core material of solar photovoltaic cell manufacturing base located in southwest airport economic development zone, Shuangliu, Chengdu, China, that accounted for $20 million of investment, included a factory of 65,000 square meters and 300 sets of manufacturing equipment in operations. With the state of art equipments, the Company has the capacity to produce 400 tons of high-purify photovoltaic cell material and 42 other types of electronic materials.

Right after the completion of Phase I construction, the Company hosted its first Annual Autumn Sales Event from October 30 – November 2, 2008. During the 4 days sales event, 84 customers, including CERAC, visited Apollo Solar Energy and contracts in the amount $3.63 million were signed between the Company and our customers. Letters of Intents to purchase our products in the next 3 years were also signed.