Canadian Solar Ranked Among Fastest Growing Companies in North America on
Deloitte's 2012 Technology Fast 500(TM)
ONTARIO, Canada, Nov. 14, 2012
ONTARIO, Canada, Nov. 14, 2012 /PRNewswire-FirstCall/ -- Canadian Solar Inc.
("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest
solar companies, today announced it has been ranked on Deloitte's Technology
Fast 500™, a ranking of the 500 fastest growing technology, media,
telecommunications, life sciences and clean technology companies in North
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar,
remarked: "This is an honor for me personally and for our entire company to be
recognized among the fastest growing companies in North America. We take
great pride in this achievement. We have worked tirelessly to deliver
compelling alternative energy solutions to customers across the world since
founding Canadian Solar in Ontario in 2001. We are now a globally recognized
leader with an impressive track record of consistently delivering high
performance, highly reliable solar products backed by one of the industry's
strongest insurance guarantees. I would like to thank all of Canadian Solar's
employees worldwide, and what we believe to be our unparalleled network of
installation and project partners, and supportive financial institutions."
The 2012 Technology Fast 500™ winners are true leaders who leverage their
entrepreneurship and technological innovation to achieve strong growth, said
Richard Lee, National Leader, Technology, Media & Telecommunications Industry
Group, Deloitte. "Their commitment and leadership continue to transform the
Overall, 2012 Technology Fast 500™ companies achieved revenue growth ranging
from 128 percent to 279,684 percent from 2007 to 2011, with an average growth
of 2,774 percent.
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of
the fastest growing technology, media, telecommunications, life sciences and
clean technology companies – both public and private - in North America.
Technology Fast 500 award winners are selected based on percentage fiscal year
revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must
own proprietary intellectual property or technology that is sold to customers
in products that contribute to a majority of the company's operating revenues.
Companies must have base-year operating revenues of at least $50,000 USD or
CD, and current-year operating revenues of at least $5 million USD or CD.
Additionally, companies must be in business for a minimum of five years, and
be headquartered within North America.
About Canadian Solar Inc.
Canadian Solar Inc. is one of the world's largest solar companies. As a
leading vertically integrated provider of ingots, wafers, solar cells, solar
modules and other solar applications, Canadian Solar designs, manufactures and
delivers solar products and solar system solutions for on-grid and off-grid
use to customers worldwide. With operations in North America, Europe,
Australia, Africa and Asia, Canadian Solar provides premium quality,
cost-effective and environmentally-friendly solar solutions to support global,
sustainable development. For more information, visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking statements that
involve a number of risks and uncertainties that could cause actual results to
differ materially. These statements are made under the "Safe Harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. In
some cases, you can identify forward-looking statements by such terms as
"believes," "expects," "anticipates," "intends," "estimates," the negative of
these terms, or other comparable terminology. Factors that could cause actual
results to differ include the risks regarding general business and economic
conditions and the state of the solar industry; governmental support for the
deployment of solar power; future available supplies of high-purity silicon;
demand for end-use products by consumers and inventory levels of such products
in the supply chain; changes in demand from significant customers; changes in
demand in our project markets, including Canada; changes in customer order
patterns; capacity utilization; level of competition; pricing pressure and
declines in average selling prices; delays in new product introduction;
continued success in technological innovations and delivery of products with
the features customers demand; utility-scale project approval process; delays
in utility-scale project construction; shortage in supply of materials or
capacity requirements; availability of financing; exchange rate fluctuations;
litigation and other risks as described in the Company's SEC filings,
including its annual report on Form 20-F filed on April 27, 2012. Although the
Company believes that the expectations reflected in the forward looking
statements are reasonable, it cannot guarantee future results, level of
activity, performance, or achievements. You should not place undue reliance on
these forward-looking statements. All information provided in this press
release is as of today's date, unless otherwise stated, and Canadian Solar
undertakes no duty to update such information, except as required under
SOURCE Canadian Solar Inc.
Contact: Investor Relations Contacts: Ed Job, CFA, Director, Investor
Relations, Canadian Solar Inc., email@example.com, David Pasquale, Global
IR Partners, Tel: +1-914-337-8801, firstname.lastname@example.org
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