Innovalight Achieves Record Efficiency Silicon Ink Solar Cell

18 percent conversion efficiency of sunlight to electricity independently
verified

SUNNYVALE, Calif., Sept. 8 /PRNewswire/ -- Innovalight, Inc., a privately-held
firm providing printed silicon ink solar cell technology, today announced that
the company has demonstrated a record 18 percent conversion efficiency with
silicon-ink processed solar cells. The industry standard size solar cell
results were independently certified by two of the world's recognized solar
cell testing centers, the U.S. Department of Energy's National Renewable
Energy Laboratory (NREL) and The Fraunhofer Institute for Solar Energy Systems
(ISE) in Germany.

Innovalight's proprietary silicon ink and processing technologies allow
crystalline silicon solar cell manufacturers to dramatically boost output
capacity, solar cell performance as well as reduce costs with a simplified
additional step to already installed manufacturing lines. Crystalline silicon
solar cell technology accounts for 86% of the commercial solar panel market
today, according to Paula Mints, principal analyst for Navigant Consulting,
Inc., a leading solar industry research firm.

"Recently, NREL verified 18% efficiency which is a very significant
achievement," said Martha Symko-Davies, senior program manager at NREL. "We
also are pleased that Innovalight has recently been awarded a $3 million
Technology Incubator subcontract through the National Renewable Energy
Laboratory, funded under the Department of Energy," she added.

"Innovalight's silicon ink and processing technologies provide a compelling
solution in an otherwise undifferentiated marketplace for solar cells," said
Homer Antoniadis, chief technology officer for Innovalight. "Optimized for use
with industry standard deposition tools, Innovalight's solution improves the
economics of solar cell manufacturing," he added.

Innovalight is currently working with a number of solar cell manufacturing
companies and is ramping production of silicon ink at its site in Sunnyvale,
California. The company is developing technologies based on silicon ink to
ultimately bring conversion efficiencies of crystalline silicon solar cells to
over 20 percent.

About Innovalight
Innovalight is a privately held firm based in Sunnyvale, California. Based on
silicon-ink technology, the company is developing low-cost, high-performance
technologies to produce lower cost solar cells. Innovalight is venture capital
backed and has also received significant development funds from the United
States Department of Energy.
For more information visit www.innovalight.com

About National Renewable Energy Laboratories (NREL)
NREL is the U.S. Department of Energy's primary national laboratory for
renewable energy and energy efficiency research and development. NREL is
operated for DOE by the Alliance for Sustainable Energy, LLC. For more
information please visit www.nrel.gov

About the Fraunhofer Institute for Solar Energy Systems (ISE)
The Fraunhofer Institute for Solar Energy Systems (ISE) conducts research on
the technology needed to supply energy efficiently and on an environmentally
sound basis in industrialized, threshold and developing countries. To this
purpose, the Institute develops systems, components, materials and processes
in the areas of thermal use of solar energy, photovoltaic, solar building,
electric power supplies, micro-energy technology, chemical energy conversion,
energy storage and rational use of energy. The institute's work ranges from
investigation of scientific fundamentals for solar energy application, through
the development of production technology and prototypes, to the construction
of demonstration systems. The institute plans, advises and provides know-how
and technical facilities as services. For more information please visit
www.ise.fraunhofer.de

SOURCE Innovalight, Inc.

Tim Turpin of Sparkpr, +1-415-244-9699, tturpin@sparkpr.com, for Innovalight,
Inc.