SHANGHAI, Jan. 7, 2022 /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 its subsidiary Xinjiang
Daqo had obtained energy consumption approval for its polysilicon
projects in Baotou, in China's
Inner Mongolia autonomous region.
The abovementioned polysilicon projects consist of a 100,000 MT
polysilicon project for the solar industry and a 1,000 MT polysilicon project for the semiconductor
industry with an estimated total investment of RMB8.55 billion. Construction is expected to
start in the first quarter of 2022 and to be completed in the
second quarter of 2023.
Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are
very excited to obtain the energy consumption approval for our
polysilicon expansion projects in Baotou, which will significantly
increase our production capacity leveraging the industry's
cutting-edge technologies and processes. We will also take this
opportunity to expand our business to the semiconductor industry,
which is an important step forward to diversify our business
capitalizing on our accumulated expertise and technology
advantages. The renewable energy revolution is providing a huge
market with a fast growth rate. We are confident that our new
polysilicon projects in Baotou will enable us to continuously
increase our market share and enhance our leadership in the
polysilicon industry."
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.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@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 on its project construction progress and market
growth, 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-energys-subsidiary-xinjiang-daqo-obtains-energy-consumption-approval-for-its-polysilicon-project-in-inner-mongolia-china-301456091.html
SOURCE Daqo New Energy Corp.