1366 Technologies Awarded Four Million in ARPA-E Funding

Innovative PV Company One of Only 37 Awardees Selected from Highly-Competitive
Pool of 3,600 Applicants

LEXINGTON, Mass., Oct. 26 /PRNewswire/ -- 1366 Technologies
(www.1366tech.com), a silicon photovoltaics company, today announced that the
company will receive four million dollars in federal funding from the Advanced
Research Projects Agency -- Energy (ARPA-E) of the U.S. Department of Energy
(DOE). The first ARPA-E solicitation was extremely competitive with over 3,600
applications from across the U.S. and, after an extensive application process,
the selection committee named 1366 Technologies as the only photovoltaics (PV)
company to receive funding.

Of the large pool of applicants, 37 final recipients were chosen through a
rigorous review process with input from multiple review panels composed of
leading U.S. energy science and technology experts and ARPA-E's program
managers. Evaluations were based on the potential for high impact on ARPA-E's
goals and scientific and technical merit. 1366 Technologies was selected for
their Direct Wafer technology that forms high-efficiency
'monocrystalline-equivalent' silicon wafers directly from molten silicon, with
the potential to slash the cost of PV installations by half.

"For over 35 years, silicon PV has been hobbled by high costs and difficulties
in scaling due to expensive wafering. Our Direct Wafer technology solves the
wafering problem with a breakthrough manufacturing solution that is compatible
with today's supply chain," said Frank van Mierlo, co-founder and president of
1366 Technologies. "This funding will allow us to accelerate the development
and scaling of Direct Wafer, which will have strong implications for the
competitiveness of the U.S. PV industry and provide a basis for future
economic growth and jobs."

1366 Technologies also recently unveiled the groundbreaking Self-Aligned Cell
(SAC) architecture, with innovative cell texturing and metallization design to
deliver simpler, more commercially-viable solutions for multi-crystalline cell
manufacturers striving to achieve 18 percent cell efficiency. Learn more about
this technology by clicking here.

For more information about 1366 Technologies, please visit: www.1366tech.com.
To learn more about ARPA-E funding, please go to:
http://arpa-e.energy.gov/index.html

About 1366 Technologies
1366 Technologies' eliminates the cost and production challenges that have
hampered solar power's ability to replace fossil fuels. The company combines
breakthrough innovations in silicon cell architecture with lean manufacturing
processes to make the world's most cost effective and commercially viable high
efficiency solar cells. Developed by a veteran team of scientists, engineers
and entrepreneurs, including MIT professor and photovoltaic industry expert
Dr. Emanuel Sachs, the company's novel approach breaks the historic efficiency
and cost tradeoff of photovoltaics. 1366 Technologies is headquartered in
Lexington, MA. For more information, please visit www.1366tech.com.

SOURCE 1366 Technologies

Craig Lund, Director of Business Development of 1366 Technologies,
+1-802-595-5068, clund@1366tech.com; or Laureen McGowan Sanderson of Greenough
Communications for 1366 Technologies, +1-617-275-6515,
lmcgowan@greenoughcom.com