NANJING, China, April 4, 2008 /Xinhua-PRNewswire/ -- ET Solar Group
Corp. ("ET Solar"), a Nanjing-based integrated manufacturer of photovoltaic
products including ingot, wafer, module, and state-of-the-art dual-axis
tracking systems with manufacturing facilities located in Taizhou, China,
announced today the completion of a US$19 million private equity placement
transaction.

    The Series A redeemable convertible preferred share placement was led
by Tsing Capital / China Environment Fund, a highly experienced
institutional investor dedicated to cleantech investment in China, and
joined by another prominent institutional investor.

    Commenting on the news, Xinghua Wang, chairman of ET Solar, said, "As a
vertically integrated solar company that focuses on downstream part of the
value chain, ET Solar is well positioned to capture the exponential growth
of the solar industry and represents a very attractive investment
opportunity to the investors."

    Fischer Chen, CFO of ET Solar, added "The clear differentiation in our
business model and product portfolio, strong procurement and sales backlog,
robust earnings visibility and new product commercialization roadmap
ensured a successful completion of a sizeable fund raising in a challenging
capital market environment."

    About ET Solar

    ET Solar is an integrated solar component manufacturer. Headquartered
in Nanjing, China, ET Solar has two manufacturing facilities in Taizhou,
China. The Company's diversified products range from mono crystalline
ingot, mono and multi crystalline silicon wafer, module, dual-axis tracker
systems and BIVP products. ET Solar has been implementing sales through a
combination of extensive direct sales and global distribution. Marketing
and after-sales services throughout the United States, Germany, Italy and
Spain ensure our products are readily accessible in world's major solar
markets. With a genuine effort to supply our customers with tailor-made
modules for specific customer requirements, ET Solar provides pro-active
solutions for everyone's solar energy needs.

    About Tsing Capital / China Environment Fund

    Managed by Tsing Capital, China Environment Fund is the first and most
prominent VC fund in China that is fully dedicated to cleantech investment.
With three funds (CEF I 2002, CEF II 2004, and CEF III) under management,
Tsing Capital and China Environment Fund strive to pioneer the advent of
clean investment with combined environmental benefits and financial
returns.



    For more information, please contact:

     Fischer Chen
     ET Solar Group Corp.
     Tel:   +86-25-8324-9289
     Email: fischerchen@etsolar.com

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