AmeriSolar

There is some very exciting news this week from Worldwide Energy and Manufacturing USA. The company trades at the symbol WEMU.OB and is a U.S.-based China manufacturing company who specializes in products for customers in the solar energy, aerospace, wireless telecommunications, medical equipment and automotive industries, have announced that its solar division, AmeriSolar, has signed $8.1 million in new solar module contracts, with approximately $4 million from a new customer and $4.1 million from an existing customer. To date, AmeriSolar has signed approximately $30 million in new contracts, the majority of which of which are expected to be recorded during the 2008 calendar year.

The Company’s long-term objective is to become a leading player in the solar module industry and with these types of contracts it appears to be well on its way to reaching its goal.  Here at RedChip, we have a target price of $14 per share for WEMU, and with the current bid price at $7.25, it appears that right now is the perfect time to get into this stock.

Jimmy Wang, the CEO of Worldwide Energy, discusses the situation

Company Profile

“Our solar division continues to obtain new module contracts from new customers as well as existing customers demonstrating our ability to retain customers as well to gain new customers in the renewable energy market. The worldwide demand for renewable alternative energy sources continues to drive our strong growth. We are very encouraged by the strong growth. We have already surpassed our projected revenues for the solar division for 2008. We will continue to expand our market share in the solar sector as we become one of the fastest growing companies in the clean-tech industry.”

Here at RedChip, it is our mandate to find tomorrow’s Blue Chip Stocks today, and WEMU is looking like a great candidate for anyone looking for an optimal time to invest in the fast-growing energy market.

To watch my podcast talking about this news, click here.