Apollo Solar Energy has signed a five-year purchase contract with a worldwide solar panel manufacturer.

According to the contract, Apollo will provide 5N ultra-high purity tellurium, the core material of CdTe thin film solar PV, with projected sales of approximately RMB730m (approximately $110m) over five years period.

Apollo Solar CEO Jingong Pan said that the company has been cooperating closely for the past five years with this manufacturer and it believes this purchase contract will be a win-win strategy for both in the long run.

Apollo Solar id a vertically integrated miner, refiner and producer of high purity tellurium (Te) and tellurium based metals for the CdTe/CIGS Thin Film solar photovoltaic (PV) industry and specific segments of the electronic materials market.