Hanwha SolarOne Co. Ltd. is a leading manufacturer of photovoltaic panels and cells. It is the seventh largest manufacturer of solar power components in the world. The company's global headquarter is located in Qidong, China. Hanwha SolarOne Co. Ltd. has a solar research and development center in Daejon (South Korea), engineering technology center in Qidong (China) and advanced R&D laboratory in Silicon Valley in the United States. Daejon Solar R&D center works on several process technologies and technology commercialization concepts. Engineering technology center is responsible for tasks related to manufacturing technologies and process improvements. Advanced R&D laboratory is accountable for breakthrough technologies. The company mainly sells all kinds of polycrystalline and mono-crystalline products. Hanwha SolarOne Co. Ltd. has a strong presence throughout Asia, Europe and North America. It also offers worldwide sales and technical support through regional offices. The company also utilizes an extensive network of distributors located worldwide. Recently, Hanwha SolarOne Co. Ltd. has sponsored popular European soccer clubs namely Bolton Wanderers and Hamburg SV to promote its brand around the world.
Hanwha SolarOne Co. Ltd.was formed as a result of strategic partnership between Solarfun Power (a leading Chinese photovoltaic module manufacturing company) and Hanwha Chemical Corporation (one of Korea’s top conglomerates). In the year 2006, Solarfun Power was listed on the NASDAQ. In 2011, it was relisted under the name Hanwha SolarOne. Hanwha Chemical Corporation holds 49.99% of the Solarfun shares. In 2008, Hanwha SolarOne Co. Ltd. acquired another company named Yangguang Solar. In 2010, the company was reported to have 12,000 employees. The company's net income is over $55 million and revenue is more than $1150 million. On 4th March 2011, the company launched a new NASDAQ ticker symbol known as HSOL. Previously it was SOLF.
Mr. Ki-Joon HONG is the Chairman and CEO of Hanwha SolarOne Ltd. He has been appointed to oversee the Company's overall strategy. Mr. Dong Kwan Kim has been appointed as the Company's Chief Strategy Officer. The Board of Directors has appointed Mr. Hee Cheol Kim, as President of Hanwha SolarOne Co. Ltd. In his new role, Mr. Kim will oversee general management functionalities, including sales & marketing, R&D and production. Mr. Jung Pyo Seo is the Chief Financial Officer of Hanwha SolarOne. Mr. Justin Koo Yung Lee has joined as the Chief Commercial Officer. Mr. Tai Seng PNG is the Chief Operating Officer and Mr. Chris Eberspacher is the Chief Technology Officer of Hanwha SolarOne.
As a global solar-energy products and service provider, Hanwha SolarOne offers a wide range of crystalline silicon, polysilicon, wafers, cells, modules and ingots. As a global solar-energy firm, Hanwha SolarOne offers a wide range of products. These include crystalline silicon, polysilicon, wafers, cells, modules and ingots. In 2010, Hanwha SolarOne had a manufacturing capacity of 600 MW for solar cells, 900 MW for solar modules and 400 MW for wagers and ingots. The company also produced 15 MW for automated building integrated photovoltaics (BIPV). Hanwha SolarOne also works along with other third party distributors, system integrators and OEM manufacturers for handling large scale of commercial, residential and utility solar installations. The building integrated photovoltaic module is one of the most innovative products. These modules can be installed in various places like windows, walls, skylights and roofing. Solar photovoltaic modules have been unveiled with the enphase micro-inverters. Hanwha SolarOne products are certified to international ISO 14001 environmental standards and ISO 9001 quality. Moreover, each product is backed by Hanwha SolarOne's 25-year limited warranty.
In 2011, Hanwha SolarOne took a loan of $100 million for funding its future expansion projects. The company has collaborated with the Korea Development Bank and Standard Chartered Plc. Earlier, the company has announced that it will increase the production capacity of solar cells and ingots. Moreover, Hanwha SolarOne Co. Ltd. has signed an investment contract for a new production facility in the Jiangsu Province of China. Senior management of the company has also planned to expand teams in North America in order to improve customer support in that region. The company plans to increase solar cell capacity from 550 MW to 820 MW; wire saw capacity from 400 MW to 572 MW; and ingot capacity from 360 MW to 510 MW.