September 16, 2014 5:53 AM ET

Semiconductors and Semiconductor Equipment

Company Overview of QSOLAR Limited

Company Overview

QSOLAR Limited develops, manufactures, and sells photovoltaic solar panels in Asia, Europe, and North America. It manufactures solar photovoltaic panels using its proprietary patented technology, SPRAYTEK99. The company’s products include QLX modules, QSS modules, QST modules, QSF modules, and QSRU modules. It also offers mounting systems, such as end and mid clamps. QSOLAR Limited has a strategic partnership agreement with ETI Dynamics Ltd. The company was founded in 2007 and is headquartered in Calgary, Canada.

West tower

Suite 2110

250 - 5th street SW

Centennial Place

Calgary, AB T2P 0R4


Founded in 2007



Key Executives for QSOLAR Limited

Total Annual Compensation: $185.5K
Chief Financial Officer
Age: 56
Total Annual Compensation: $195.5K
Compensation as of Fiscal Year 2013.

QSOLAR Limited Key Developments

QSOLAR Limited Announces QDRIVE Solar Golf Cart Accessory Kit

QSOLAR Limited announced the successful development, testing and introduction of its first specialized solar product solution for the golf cart industry, the QDRIVE solar golf cart accessory kit ("QDRIVE"). QSolar has taken its proprietary technology and designed an easily installable kit that compliments electric outlet charging of golf cart batteries and developed a working solar after-market product solution that allows the golf cart, under typical use, to run fully autonomously on solar power without the use of an electric mains charger. QDRIVE will potentially save the end-user significant amounts otherwise spent on an electric battery charger and electrical charging costs estimated at $350 annually per golf cart. In addition, the overall battery life cycle will be extended resulting in savings of additional amounts of money over a number of years. By reducing the amount of deep discharge cycles to a battery, an owner can expect less frequent costly battery swaps or change-outs on their vehicles that typically cost well over $1,000 per battery change-out. QDrive has now been tested for over six months in Arizona, U.S. as well as in Asia, in extreme summer heat conditions with temperatures up to 45° Celsius. QSolar's test vehicles have achieved well over 10 additional miles per day (16 kilometers) and over 70 miles per week (112 kilometers), in Arizona, on a continuous solar charge, even on cloudy days. To date, over the span of 7 days in Arizona, QSolar's test vehicle has also been able to drive 86 miles (138 kilometers) off a single charge. QSolar expects to introduce and have initial product available in the US for September 2014, and commence selling through an Arizona based non-exclusive distributor. The higher margin Q2GO and specialty 8 watt to 500 watt solar products are distinguished from QSolar's original mass market product, QSS250W, which is currently in the TUV SUD certification process in the U.S. The QDRIVE kit is QSolar's first fully developed and tested Q2GO product that is being introduced into the U.S. golf cart market with significant acceptance having been received by management from golf courses and golf cart distributors were tested. Summary of Benefits of the QDRIVE by QSolar: No carbon footprint on solar, CO2 emission free charging and driving - 'Go Green'; Charge when exposed to daylight, also charging when in use (even on cloudy days); Ideal use is on golf courses, golf cart communities, hotels, resorts, parks, municipalities, universities; Reduces consumption of grid system electricity; Battery life may be significantly extended due to less discharging; Improves electric golf cart and utility vehicle efficiency dramatically; Will fit most golf carts and utility vehicles; Extremely light weight and durable; Low maintenance; Easy installation; Extremely attractive economic value proposition and potential U.S tax incentives.

QSolar Limited Announces Sales Results for the Second Quarter and Year to Date Ended June 30, 2014

QSolar Limited provided an update on sales progress at the close of the second quarter and year to date. Approximately 2.51 megawatts in additional new sales for the second quarter ended June 30, 2014 has been secured and booked. This represents an increase in sales of 188% in this second quarter over the corporation's previous first quarter. Together with the 0.87 MW sales announced for the first quarter, the corporation has generated sales totaling 3.38 MW 2014 to date. All these sales have been generated from off electrical grid non-certified product and are a direct result of new sales initiatives and marketing efforts centralized out of Shanghai, China since the beginning of the year.

QSolar Limited Announces Sales Result for the Month and Year to Date Ended May 2014

QSolar Limited announced sales result for the month and year to date ended May 2014. For the period, the company approximately 1.02 megawatts (MW) in additional new sales for the month of May have been secured and booked since the last sales when 1.19 MW of new sales were announced for the month of April 2014 bringing total sales to 2.21 MW for this current second quarter which ends June 30, 2014. This represents an increase in sales of 154% so far this quarter over the corporation's previous first quarter. Together with the 0.87 MW sales previously announced the corporation has generated sales totaling 3.08 MW year to date and is a direct result of new sales initiatives and marketing efforts centralized out of Shanghai, China since the beginning of the year.

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