(3 October 2012, Hong Kong) GCL-Poly Energy Holdings Limited (“GCL”, “Group”, stock code: 3800.HK) is pleased to announce that, Jiangsu Zhongneng Polysilicon Technology Development Co., Limited (“Jiangsu Zhongneng”), a wholly owned subsidiary of GCL that manufactures polysilicon has successfully trail-run its first phase polysilicon silane system and produced qualified high-purity silane gas. The commencement of GCL’s system marks the first-stage achievement in silane manufacturing and the technology of FBR method. It lays a solid foundation for the execution of the Group’s technology strategy, cost strategy and product strategy.
Mr Zhu Gongshan, Chairman of GCL-Poly said, “The breakthrough and application of this technology does not only fill the gap of the domestic silane manufacturing technology, but also provide a supply base for China’s semi-conductor and new energy materials industries so that they can source high-quality, low cost and large-scaled raw materials domestically in the future. Meanwhile, this technology breakthrough changes China’s reliance on silane gas import for many years. It accelerates the pace of grid parity of solar energy and provides a new growth engine for the current depressed solar industry. In addition, the application of the technology lays a solid foundation for GCL-Poly to use silane in the manufacturing of polysilicon and improves GCL’s competitiveness. We will speed up our technology innovation and work hard on lowering our production costs to create more value for our shareholders, society and employees.”