When consumers began seeking out new alternatives to oil and fossil fuels for energy and transportation, it opened a significant opportunity for solar power innovation. One of the companies leading in the development of the solar industry is Amerisolar, a subsidiary of Worldwide Energy and Manufacturing USA, Inc. (OTC BB: WEMU). With triple-digit revenue growth for the second quarter 2008 ($6.9M compared to $2.6M for 2Q07) and a recent procurement of $8.2 million in new solar module contracts, WEMU continues to outperform the market and exceed our expectations.
The $8.2 million in new solar module contracts brings total book order for WEMU’s solar division, Amerisolar, to $38 million, making them an earnings leader in their industry. It is also important to mention that WEMU has projected that the new solar module contracts are scheduled to be filled by the end of this year.
WEMU’s CEO Jimmy Wang, stated in the press release out this week:
“We are pleased by the continued demand for solar modules contracts which is demonstrated by the continued strong demand in our energy division. The worldwide need for alternative energy sources will continue to drive our growth. Our solar energy resources, our Fortune 500 customer base and our aggressive sales team, combined with our recent $4.75 million funding, gives our company tremendous momentum. We are aggressively continuing to grow our solar module market share.”
With a strong customer base, along with continued technological innovation and revenue growth, WEMU would make a strong addition to your investment portfolio.
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i’ll keep an eye out for them. i’ve been tracking emcore who have a solar section to their business. they seem to have bottomed out now at around $1. might be worth a punt?