Q CELLS reaffirms commitment to innovation as brand reaches 20-year milestone in solar industry

Twenty years after the Q CELLS brand was born, the Company's enduring technological excellence continues to shape the solar industry on a global scale.


[Thalheim, Germany, December 12, 2019] Q CELLS (or “The Company”), a world-leading total energy solutions provider from solar cell and module to energy storage, management and retail, celebrated the 20th anniversary of the Q CELLS brand – a feat that underlines the Company’s commitment to continued technological leadership that is “Engineered in Germany” and respected around the world.

To mark this occasion as a fresh-faced 20-year-old, Q CELLS plans to deliver a series of relevant products and services in 2020.

Specifically, 2020 will be the year that sees Q CELLS expand its portfolio of monocrystalline modules that surpass 20% conversion efficiency. Next year, this 20%-plus efficiency portfolio will take center stage as the entire focus of Q CELLS’ 10.7 GW module production capacity is steered towards monocrystalline. The Company believes that monocrystalline technology represents the most effective route towards obtaining the lowest LCOE.

With the shift to mono, Q CELLS will continue to meet the growing appetite for higher power modules as evidenced with the launch of the Q.PEAK DUO-G6 module manufactured with larger M4 wafers that was released in Europe, the US and Australia in Q2 and Q3 this year. Even more next-generation modules in the Q.PEAK DUO series will be unveiled throughout 2020.

Furthermore, the Company keenly s primary concern will remain focused on performance, cost and reliability over a module's 25-year lifetime. By producing highly efficient solar modules and pursuing ever-increasing efficiencies in R&D and production, Q CELLS continues to demonstrate the strength of its R&D expertise, R&D investment ­­– which has averaged $80 - $90 million annually for the past five years – its technological leadership, and its firm understanding of meeting customer demands; an understanding that stretches back for two decades.

For more than TWO decades, Q CELLS has consistently delivered

In reaching 20 years in the solar industry, very few other solar companies in the market today can boast such a long history as the Q CELLS brand. This is testament to the strength of the initial Q CELLS vision to deliver "Engineered in Germany" excellence and the Company's ongoing global reach, bankability and market expertise.

From the Company's German inception in 1999 to its current status as a top-tier, vertically integrated provider of total energy solutions, Q CELLS' journey has closely mirrored that of the solar industry itself: never plain sailing, with some unexpected twists and turns, butultimately moving towards broad public acceptance and a growing importance in the global energy landscape.

Q CELLS CTO Daniel Jeong said: "Reaching our 20th anniversary is a timely reminder of how Q CELLS continues to set the standards for the solar industry. We are proud of just how advanced our R&D capabilities continue to be, and delivering mono products with over 20% module efficiency shows how we can translate these learnings into current products. Boosting power conversion efficiency remains our priority, which is aided by Q CELLS' ongoing product evolution, including gapless modules, 12 wire technology and many other exciting developments in the pipeline.

"As a brand celebrating 20 years in the industry, we are proud when we look upon our past as well as our current achievements, and further, extremely excited when we look ahead to the future."

German Bundesliga football club RB Leipzig, of which Q CELLS is a sponsor, congratulated the Company on reaching this 20-year milestone with a warm message on its social media platform.

"RB Leipzig congratulates its official partner Q CELLS on 20 years' innovation in the solar industry!", the official RB Leipzig Facebook page said. "Q CELLS is one of the few German-born companies in the solar industry, and is considered one of the world leaders in technology and performance."

Q CELLS @ 20 notable milestones

- 1999: Q CELLS is founded in Thalheim, Germany. Global solar capacity: 1 GW

- 2001: Introduces to market the Q6M cell

- 2004: Sets new standard for industry with Q6L 6-inch cell

- 2007: Rolls out its first three busbar cell, the Q6LTT3-G3

- 2008: First Company to ensure hot-spot-free cells with Hot-Spot Protect

- 2009: Opens its first overseas production facility, in Malaysia

- 2010: Moves from cell-only production to module production

- 2011: Hits a world-record efficiency of 19.5% with Q.ANTUM multicrystalline cell

- 2012: Becomes first solar Company to commercialize PERC technology

- 2015: Merges with Hanwha SolarOne

- 2015: Achieves world-record efficiency of 19.5% with Q.ANTUM multicrystalline module

- 2015: Signs 1.5 GW module supply agreement with NextEra Energy Resources, LLC

- 2017: Opens Jincheon cell fab in South Korea

- 2019: Reaches milestone of 3 billion Q.ANTUM solar cells

- 2019: Inaugurates largest module facility in western hemisphere the 1.7 GW fab in Dalton, Georgia, USA

About Q CELLS

Q CELLS is on-performance, high-quality solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with diverse international manufacturing facilities in the U.S., South Korea, Malaysia, and China. Q CELLS offers the full spectrum of photovoltaic products, applications and solutions, from cells and modules to kits to systems to large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, Q CELLS provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: www.q-cells.com. Safe-Harbor Statement

This press release contains forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press -looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Except as required by law, Q CELLS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Hanwha Q CELLS GmbH
Corporate Communications
Jochen Endle, Ian Clover
Tel: +49 (0)3494 6699 10121
E-mail: presse@q-cells.com