Apollo Solar Energy appoints new CEO

CHENGDU, CHINA: Apollo Solar Energy Inc., a leading vertically integrated miner, refiner and producer of high purity tellurium (Te), tellurium-based compounds and other metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, has appointed Dr. Jingong Pan as its CEO.

According to the employment agreement between Dr. Pan and the company, Dr. Pan will be entitled to receive an annual base salary of RMB 660,000 and has been granted options to acquire 1,000,000 shares of the company's common stock which will vest in equal annual installments over the thirty-six month period.

Dr. Pan, age 45, has been a member of the company's board of directors since March 2010. He is currently an Adjunct Professor at the New Jersey Institute of Technology. From 2000 to 2002, Dr. Pan served as a General Manager of Flaming Sun (USA) Corp., and from 1997 to 2000, served as Vice President of Anton USA (Bank of China Group).

Dr. Pan received a Bachelor of Science degree from the Harbin Institute of Technology, Masters degrees from the Harbin Institute of Technology and the New Jersey Institute of Technology, and a Ph.D. from the New Jersey Institute of Technology.

"We are very pleased to appoint Dr. Pan as our new CEO," Prof. Zhiming Cao, chairman of the nomination committee of board of the company commented, "since Dr. Pan has tremendous knowledge about solar PV industry and an excellent record of management experience in both China and US. We expect Dr. Pan will play a
leading role in the company and promote Apollo's management to a new level."

"I'm also very pleased to take the position of CEO of Apollo," Dr. Jingong Pan stated. "It is an honor to work with Apollo in further developing the renewable energy industry in China. I selected Apollo as a strategic partner for my career development because I believe Apollo is a pioneer in the thin film solar PV section with significant resources, technologies and network."