Yingli Green Energy Holding Company Limited (“Yingli Green Energy”), a leading global vertically integrated photovoltaic manufacturer, and the precious metals and technology group Heraeus, announced the signing of a $70 Million cooperation and supply agreement. The Heraeus Photovoltaic Business Unit, a world leader in developing front and back-side silver paste for crystalline solar cells will work together with Yingli Green Energy to achieve significant photovoltaic technology advancements, specifically to reduce the cost-per-watt of solar cells to a new industry benchmark.
Under this new one-year agreement, Heraeus will now dedicate R&D resources in its 3 technology centers located in West Conshohocken (USA), Hanau (Germany) and Singapore to develop state-of-the-art silver metallization pastes for Yingli Green Energy’s high efficiency N-type silicon solar cells, named PANDA.
“As an industry leader, we [Heraeus] are overjoyed about our agreement with Yingli Green Energy since our primary focus is the commitment to innovation of highly-efficient, yet cost-effective products for our customers,” said Andy London, PV Global Manager and Vice President of Heraeus Precious Metals North America Conshohocken LLC in West Conshohocken, Pa. (USA).
According to Jingfeng Xiong, Vice President of Yingli Green Energy Holdings Co Ltd., “Our mission is to provide affordable green energy for all, therefore, we constantly innovate to enhance the quality and cost structure of our products. The ability to work closely with Heraeus will help us remain an industry frontrunner.”
About the Heraeus Photovoltaics Business Unit
Heraeus manufactures high volumes of thick film pastes for some of the most prominent companies within a variety of industries. For over 40 years, the company has built a reputation of innovation, extensive research and new product development in this field. The Heraeus Photovoltaics Business Unit applies its innovative technology to the field of photovoltaics, offering silver pastes for crystalline solar cells. The Heraeus SOL Series of silver pastes is specially formulated to provide higher efficiencies and wider processing windows, resulting in better yields and higher output for cell manufacturers.
Heraeus, the precious metals and technology group headquartered in Hanau, Germany, is a global, private company with 160 years of tradition. Our fields of competence include precious metals, materials, and technologies, sensors, biomaterials, and medical products, as well as dental products, quartz glass, and specialty light sources. With product revenues of €4.1 billion and precious metal trading revenues of €17.9 billion, as well as more than 12,900 employees in over 120 subsidiaries worldwide, Heraeus holds a leading position in its global markets.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand “Yingli Solar,” is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Currently, Yingli Green Energy maintains a balanced vertically integrated production capacity of 1,700 MW per year. Capacity expansion projects of an additional 750 MW in total are under construction in Haikou, Tianjin, Hengshui and Baoding, which are expected to start initial production in 2012 and will increase the Company’s total nameplate production capacity to 2,450 MW by the end of 2012. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 16,000 employees and more than 20 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit www.yinglisolar.com.