BOULDER, Colo. & TEMPE, Ariz, Jan. 30, 2012 - Team Chipotle, the Continental development cycling squad owned and managed by Slipstream Sports, today announced that it will become Team Chipotle-First Solar with the addition of First Solar, (NASDAQ: FSLR, www.firstsolar.com), one of the world's largest solar companies, as a co-title sponsor. The team will make its season debut Feb. 10 through Feb. 12 at the 2012 Valley of the Sun race in Phoenix, Ariz.
Arizona-based First Solar is the world's largest manufacturer of thin-film solar modules and designs and builds complete photovoltaic (PV) power plants for customers in many countries - including the two largest PV projects in the world, which are currently under construction. The company is committed to sustainability and created the solar industry's first prefunded collection and recycling program.
"Our sponsorship of the Chipotle-First Solar team is part of our broader commitment to a cleaner, healthier environment. Cycling is a sport with global appeal that promotes hard work, competition and excellence, values we share," said Ted Meyer, First Solar's Vice President of Global Corporate Communications. "We are proud to support a team that is dedicated to cultivating the next generation of global cycling champions and look forward to a great relationship with the world's top development squad."
Owned and managed by Slipstream Sports, the development program has been grooming the next generation of cycling champions since its inception in 2003. Today, Team Chipotle-First Solar is the most successful development team in the United States and works as a feeder team for pro team Garmin-Barracuda.
"We are thrilled that First Solar has chosen to partner with us. It's very exciting to have a company of this caliber support our team as we continue to pursue our goals of developing the next generation of cycling champions," said Chann McRae, Director Sportif, Team Chipotle-First Solar. "The Chipotle-First Solar boys are set for an exciting year. We're proud to have a roster featuring some of the finest U23 talent in the world. Our sprinters are eager to get it on in the closing kilometers, and the climbers are excited for high mountain selections. We kicked off the season with a training camp in Wimberley, Texas, and we'll race all the way through the World Championships in Limburg, Netherlands on September 23rd. We hope to give our fans many reasons to cheer in 2012."
Team Chipotle-First Solar 2012:
Steele Van Hoff
"When I started this organization, my dream was to foster an environment where young riders could flourish," said Jonathan Vaughters, CEO of Slipstream Sports. "I am proud to continue that mission and to welcome First Solar - a company that shares our vision of fostering the next generation - to the Continental team. Like Chipotle, First Solar is dedicated to creating a better, healthier, and sustainable future."
Team Chipotle-First Solar today unveiled the 2012 jersey from technical clothing supplier Castelli, which continues to make sure the team has the right clothing for the season - whether racing or training.
Slipstream Sports, dedicated to ethical sport and developing the next generation of cycling champions, began in 2003 as a development team for young riders and continues that mission today with a three-pronged approach of managing junior, continental, and pro teams.
"Partnering with First Solar from a business perspective is very exciting," said Matt Johnson, President of Slipstream Sports. "They are a huge global company and the team is competing in locations where some of their most important projects are underway, so we will be bringing their message straight to the communities and markets most important to them."
About First Solar, Inc.
First Solar manufactures solar modules with an advanced semiconductor technology, and is a premier provider of comprehensive photovoltaic (PV) system solutions. The company is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating value-driven renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
Team Chipotle-First Solar Contact:
First Solar Contact: