SmallCapStockAlert.com Announces (OTC: SOEN) Profile Coverage
(CybeRelease, May 31, 2006) - Lake Harmony, PA - Solar EnerTech Corp. (OTC BB: SOEN) (the “Company”) announces that Management has been advised that significant progress has been made towards the rapid start-up of its new state-of-the-art solar cell manufacturing plant located in Shanghai.
Management and its engineering team have determined that the projected production capacity for the facility is estimated at an output of 20Mw per production line. At current prices this translates into roughly $37.5 million dollars in annual revenue per production line. The Company’s strategic plan is to have the initial 20Mw in production by Q4 of this year, followed by the second 20Mw line in mid 2007, with the near-term goal for the facility coming online by 2009 at 120Mw in total annual output utilizing the existing infrastructure as currently envisioned.
This strategic plan is designed to move Solar EnerTech rapidly towards becoming a major player in the solar cell manufacturing marketplace as each milestone is achieved. With current levels of capitalization, management believes that the facility could begin generating revenue in approximately 5 months, and with further funding the company could potentially produce 60Mw of manufactured output equating approximately $113 million dollars in annual revenue as early as 2008.
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