Hanwha Q CELLS and Astrum Solar Reach Solar Module Supply Agreement

Largest European PV provider to supply national installer during rapid growth phase

Annapolis Junction, Maryland, UNITED STATES

ANNAPOLIS JUNCTION, Md. and IRVINE, Calif., Oct. 20, 2014 (GLOBE NEWSWIRE) -- Astrum Solar and Hanwha Q CELLS have concluded a module supply agreement to serve the US residential market in 2015. Under the agreement, Hanwha Q CELLS, the largest European PV provider, will deliver its high yield polycrystalline and monocrystalline modules for full-service installer Astrum Solar's residential and commercial rooftop installations throughout its footprint.

"We pride ourselves in picking only the best products in the market for our customers. Q CELLS offers the perfect mix of leading real-world performance, brand reliability as well as compliance with U.S. trade regulations," said Josh Goldberg, Astrum Solar's Co-Founder and Chief Strategy Officer. "Together we can help US home owners and companies cut their electricity bills with clean energy generated right on their roof."

Astrum Solar, one of the fastest-growing residential solar energy companies, was founded in 2008 and is one of the largest solar installers in America. Astrum Solar serves homeowners and small businesses in the Northeast, California, and Arizona. The company was listed #2 by Inc. Magazine's "America's 10 Fastest Growing Private Companies" in 2012 and also their "500 Fastest Growing Companies" list in 2013. Astrum offers its customers lease and loan financing options that make solar energy accessible to the average American homeowner.

"This module supply agreement with such a reputable institution as Astrum Solar is an exciting step in expanding our presence in the US residential market", said Alan King, VP of Sales at Hanwha Q CELLS USA. "With our high yield modules engineered in Germany, US customers will benefit from optimized output under all climate conditions, in addition to Astrum's premier customer experience."

As part of the Hanwha Group - a Korean Top Ten business and a "FORTUNE Global 500" company - Hanwha Q CELLS benefits from financial stability and group synergies within the solar industry, which uniquely positions the company to serve the residential market as well as other segments in the US. Hanwha Q CELLS had announced in August that it has grown its shipments in the first half of 2014 by 68 percent to 539 MW in total (H1 2013: 320 MW).

About Astrum Solar

Astrum Solar is a leading national full-service solar provider, serving homeowners and small businesses in Arizona, California, Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Virginia, and Washington, DC. Astrum Solar's mission is to spread solar power to the rooftops of America and to ensure that its customers get the most out of their solar panels: the most energy generated, the most electricity savings, the most beneficial environmental impact, and the most joy each time they see a sunny day. Astrum Solar was on the Inc. 500 Fastest Growing Companies List in 2012 and 2013. (www.astrumsolar.com)

About Hanwha Q CELLS

Hanwha Q CELLS is headquartered in Germany and largest European photovoltaics provider according to global shipments in 2014. Around the globe the Q CELLS brand is known for solar modules, system solutions and complete power plants in superior quality - "Engineered in Germany". Moreover the company offers long-term partnership and financial stability being part of Hanwha Group - a South Korean Top-Ten business enterprise and a "FORTUNE Global 500" company. At its headquarters in Thalheim (Germany) Hanwha Q CELLS has a unique setup of R&D, production and quality management, enabling the company to develop leading quality products as well as manufacturing innovations and quickly transfer them into mass production. Q CELLS' products are manufactured according to strict quality standards; mainly in the company's production plants in Germany and Malaysia as well as in cooperation with partners in Europe and Asia. Customers of Hanwha Q CELLS can purchase Q CELLS' products via the company's international sales network with branches in Germany (HQ), Malaysia, Japan, USA, Korea, France, Turkey, Chile and Australia. Thanks to its truly international setup, high quality products and the financial stability, Hanwha Q CELLS is THE reliable partner for PV customers around the globe. For more information, visit: www.q-cells.com.

About Hanwha Group

Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea and a "FORTUNE Global 500" company. Hanwha Group has 51 domestic affiliates and 113 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 60 years track record of industrial leadership, Hanwha's manufacturing and construction businesses encompass a broad range of fields from basic chemicals and advanced materials to property development and total solar energy solutions. The finance network, covering banking, insurance, asset management and securities, is the second largest non-bank finance group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses. For more information, visit: www.hanwha.com




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