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SolarWorld receives prospecting rights for lithium

25-03-11

SolarWorld AG is allowed to prospect for lithium in Germany. The Saxon State Minister for Economic Affairs, Sven Morlok, presented the official approval document to the Chairman and CEO of SolarWorld AG, Dr.-Ing. E.h. Frank Asbeck at Altenberg-Zinnwald near the German-Czech border today. This means the solar technology group can now start prospecting in the Eastern part of the Erzgebirge mountains for this raw material, which is mainly used in modern batteries for the storage of solar power.

“Saxony’s mining industry does not only have a tradition that goes back a long way but also a promising future. With the worldwide increase in the demand for raw materials, our local resources are becoming lucrative again. If Saxony’s treasures are tapped everyone will benefit because it creates economic growth and jobs”, says Minister Morlok. “This is why I wish SolarWorld the best of luck in their endeavor to prospect for lithium.”

SolarWorld is expecting an increasing demand for lithium. The German solar technology group will investigate the deposits within the next few months in cooperation with the Freiberg University of Mining and Technology (TUBAF). As a university dealing with resources, TUBAF also estimates the reaches of rare mineral resources and performs research into new technologies for lithium-ion batteries.

“With the approval of our prospecting activities in the Eastern part of the Erzgebirge mountains, we have taken the first step towards securing the raw material for the solar power storage of tomorrow,” explains Dr.-Ing. E.h. Frank Asbeck. “In a manner of speaking, we are expanding solar value creation in Germany because in lithium batteries final consumers will in future store their home-made solar power for self-consumption. This will make them more independent of the rising prices of utilities.”

The application for the prospecting rights of lithium was filed together with the Freiberg University of Mining and Technology with the Superior Mining Authority of Saxony on November 24, 2010. The Saxony deposits are among the ten largest lithium deposits worldwide. The alkali metal lithium is used as an anode in the rechargeable lithium-ion batteries that are needed for electric cars, laptops and solar batteries.

About SolarWorld AG: The SolarWorld AG Group (ISIN: DE0005108401) is a worldwide leader in offering brand-name, high quality, crystalline solar-power technology. Its strength is its fully integrated solar production. From silicon as the raw material through wafers, cells and modules all the way to turn-key solar systems of all sizes, the group combines all stages of the solar value chain. The central business activity is selling quality modules into the installation and distribution trades and crystalline wafers to the international solar cell industry. Group headquarters are located in Bonn, Germany. The group´s largest production facilities operate in Freiberg, Germany and Hillsboro in the U.S. State of Oregon. Sustainability is the basis of the group strategy. Under the name Solar2World, the group supports care projects using off-grid solar-power solutions in developing countries, exemplifying sustainable economic development. Worldwide, SolarWorld employs more than 3,300 people. SolarWorld AG has been quoted on the stock exchange since 1999 and today is listed on, among others, the TecDAX and ÖkoDAX as well as in the sustainability index NAI.

Contact SolarWorld AG
Press: Tel.-No.: +49 228 55920-400, E-Mail: press@solarworld.de
Investor Relations: Tel.-No.: +49 228 55920-470;
E-Mail: placement@solarworld.de

Internet: www.solarworld.de



 
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