In early June, Worldwide Energy and Manufacturing USA, Inc. (OTCBB: WEMU), a China-based manufacturing company, reported its first solar order in the U.S. market — for a high-end residential villa in the West. (The company’s solar module products now have UL certification, which allows them to be sold in the U.S. market.)

As this foray into the U.S. market indicates, Worldwide continues to see strong growth in its solar division, AmeriSolar (established in February 2008). WEMU’s solar manufacturing facility in Ningbo, China, which opened in November 2008, has a 60 MW annual production capacity and also houses an R&D team. 

In the company’s first quarter 2009 earnings call, CEO Jimmy Wang stated that the company will continue to focus on sales and marketing efforts for its solar modules in Europe and other parts of the world, including Germany, Italy, Switzerland, Portugal, France, Spain, Australia and South Korea. WEMU’s solar brand continues to gain acceptance in the market place worldwide.

Despite the fact that the first quarter is typically WEMU’s slowest (attributable in part to normal customer patterns and the two-week Chinese New Year holiday in February), net sales for 1Q09 totaled $10.3 million, an increase of 90.3%, compared to $5.4 million for 1Q08. Net income for 1Q09 totaled $0.44 million or $0.13 per share, an increase of 92.4% compared to $0.33 million or $0.11 per share for 1Q08. The company’s solar module orders jumped to $6.4 million for the quarter growing 156% over the same prior-year period.

Mr. Wang attributed the company’s advanced solar technology as one reason for the continued robust growth. In 2008, WEMU filed eight Chinese patents for solar technology enhancements. Commenting on the competitive advantages of Worldwide’s solar module, Mr. Wang stated: 

“Our Mono and Poly crystalline modules feature a two-bus bar cell design which maximizes the cell’s light absorbing surface area giving the modules more consistent performance.

Also, our solar modules have a weather-resistant frame constructed of aluminum alloy for endurance in rugged weather conditions and are given a double oxidation coating for additional protection against the elements, providing for longer lasting, more durable modules.”

Employees of AmeriSolar with CEO Jimmy Wang (center)

In the same conference call, held on May 14, 2009, Mr. Wang said he believes the company’s solar order backlog “supports our recent made projections of $80 million in solar sales for 2009.”

Mr. Wang’s vision is for Worldwide to become a major player in the solar industry in the next few years. Mr. Wang’s timing into the U.S. market may be just right. CNBC.com recently reported that as American utility companies begin to invest more in solar power, the industry is expected to grow. In the CNBC article, Vishal Shah, a Barclays analyst, was quoted as stating that “[m]ajor utilities could install about 5 gigawatts of solar photovoltaic projects during the next three years.”

WEMU solar module manufactured at its Ningbo factory

Dave Gentry, CEO of RedChip (left), visits the AmeriSolar factory with CEO Jimmy Wang (center).

WEMU solar products are manufactured with the highest quality standards.