Evolution Solar Executes Wafer Supply Agreement

An exclusive contract has been executed by Michael Franklin, Director of Asian Operations, Evolution Solar, to supply one million wafers per month that are manufactured in China to Shinetsu Film and Okaya & Co., Ltd of Japan. Provision for paying commission per wafer is included in the contract. The contract is for a period of one year and can be extended further as per the provisions in the agreement.

Franklin stated that each wafer was selling for six dollars last year and was declining steadily and has stabilized now at three dollars per wafer. Now is the time for fast-growing companies to sign profitable agreements throughout the world. Evolution Solar’s placement in the Far East has paid off and the company is currently in negotiations with many companies in other countries to finalize additional agreements, since the purchasers have realized that the market price of wafers has stabilized, Franklin said.

Evolution Solar said the company is now in a position to secure more contracts since the market for wafers has stabilized and try to build a competitive niche in the solar industry that includes players such as First Solar, LDK Solar, Trina Solar, and Sun Power.