SHANGHAI, Dec. 6, 2021 /PRNewswire/ -- Daqo New Energy
Corp. (NYSE: DQ) ("Daqo New Energy", the "Company" or "we"), a
leading manufacturer of high-purity polysilicon for the global
solar PV industry, today announced that it had completed the
construction ahead of schedule and begun pilot production at its
new 35,000 MT Phase 4B polysilicon production facility. The Company
expects its Phase 4B polysilicon
production facility to gradually ramp up to full production
capacity and to increase its total annual production capacity
to 105,000 MT by the end of the first quarter of 2022.
Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are
very excited to have completed the construction in our new
Phase 4B polysilicon production
facility. We have already successfully harvested the first
batch of polysilicon produced in the new facility. It is a great
achievement for us to complete the project ahead of schedule given
the significant difficulties and challenges resulting
from the resurgence of COVID-19. This would not have been possible
without the dedication and expertise of our outstanding team and
various suppliers who have set up a new benchmark of
excellence for the Company and the industry. We expect to ramp
up the new Phase 4B facility to full
capacity by the end of March
2022."
"2021 is a milestone in the solar PV history when grid parity
has been broadly achieved. The urgency to tackle climate change has
led to broad policy support from major economies globally.
With the rising prices of fossil fuels, solar PV is becoming more
competitive and its economic value is being increasingly recognized
by the market, as reflected by the increased prices of solar
products this year, a rare occurrence in the solar
PV history. We believe we are just at the beginning of a new
era in which solar PV will play an increasingly critical role as
one of the cleanest, most sustainable, and most cost-effective
sources of energy. We expect to see accelerating growth in solar
demand in the foreseeable future."
"As one of the first-tier high-quality polysilicon providers, we
will continue to execute our three-year plan
to expand our production capacity to 270,000 MT by the
end of 2024, to meet the world's urgent need for cost-effective and
clean non-carbon energy generation. At the same time, we will
continue to improve our product quality to be market-ready for the
next generation N-type technology. With the proceeds from the
successful IPO of our subsidiary, Xinjiang Daqo, on China's A-share market, our proven strong
execution capabilities, deep understanding of our customers'
needs, and our advantages in cost structure and product
quality, we have a strong foundation to continue to serve the
fast-growing solar PV market and create value for our
shareholders."
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) ("Daqo" or the "Company") is a
leading manufacturer of high-purity polysilicon for the global
solar PV industry. Founded in 2007, the Company manufactures and
sells high-purity polysilicon to photovoltaic product manufactures,
who further process the polysilicon into ingots, wafers, cells and
modules for solar power solutions. The Company has a total
polysilicon nameplate capacity of 105,000 metric tons and is one of
the world's lowest cost producers of high-purity polysilicon.
For more information, please visit www.dqsolar.com
Daqo New Energy Corp.
Investor Relations
Email: dqir@daqo.com
Christensen
In China
Mr. Rene Vanguestaine
Phone: +86 178 1749 0483
rvanguestaine@christensenir.com
In the U.S.
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," and similar statements. The Company may
also make written or oral forward-looking statements in its reports
filed or furnished to the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, all of which
are difficult or impossible to predict accurately and many of which
are beyond the Company's control. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: the demand for photovoltaic products and the development
of photovoltaic technologies; global supply and demand for
polysilicon; alternative technologies in cell manufacturing; the
Company's ability to significantly expand its polysilicon
production capacity and output; the reduction in or elimination of
government subsidies and economic incentives for solar energy
applications; the Company's ability to lower its production costs;
changes in the political and regulatory environment; and the
duration of COVID-19 outbreaks in China and many other countries and the impact
of the outbreaks and the quarantines and travel restrictions
instituted by relevant governments on economic and market
conditions, including potentially weaker global demand for solar PV
installations that could adversely affect the Company's business
and financial performance. Further information regarding these and
other risks is included in the reports or documents the Company has
filed with, or furnished to, the U.S. Securities and Exchange
Commission. All information provided in this press release is as of
the date hereof, and the Company undertakes no duty to update such
information or any forward-looking statement, except as required
under applicable law.
View original
content:https://www.prnewswire.com/news-releases/daqo-new-energy-begins-pilot-production-at-new-phase-4b-polysilicon-production-facility-301437776.html
SOURCE Daqo New Energy Corp.