Chinese National Institutes Sign Collaboration Agreement with G24i to Drive Industrial Development of Dye-Sensitive Solar Cells

CAMPBELL, Calif.--(Business Wire)--
Just three weeks after G24 Innovations (G24i) successfully launched the world`s
first commercial application of Dye-Sensitive Solar Cells (DSSC), the global
pioneer of DSSC announced that it has signed a formal agreement with three of
China`s most prestigious institutes to accelerate industrial development of the
technology. Continuing its expansion, G24i has signed an agreement with the
China National Academy of Nanotechnology & Engineering (CNANE) in Tianjin,
together with the Changchun Institute of Applied Chemistry (CIAC), which is part
of the China Academy of Sciences, and the Nanotechnology Industrialization Base
of China (NIBC).

Dye-Sensitized Solar Cells are unique in that they are extremely robust,
lightweight and durable, and produce electricity in low-light conditions indoors
as well as outside. G24i`s DSSC modules are so versatile that they can be used
in industries as diverse as personal electronics, building and construction, and
military and defense where rugged conditions and wide variations in lighting can
apply.

The contract signals the intent of the parties to establish an accelerated
growth platform for the industrialization of G24i`s technology. The three
national Chinese institutes have agreed to commit their resources to
industrializing DSSC with the objective of making significant advances in
materials, manufacturing and scientific aspects of G24i`s thin-film solar
technology. The agreement comes on the heels of G24i`s debut at the Hong Kong
Electronics Fair where the announcement of G24i`s new solar products received
widespread attention from industry and top tier media in the region.

Commenting on the signing of the agreement, chief executive officer of G24i,
John Hartnett, explained: "This agreement represents a very significant
opportunity for G24i to tackle some developmental challenges. With the help of
these major Chinese Institutes, we are confident that we can achieve significant
cost reductions in the near term and drive commercialization at an even more
accelerated pace."

Inventor of the DSSC `Graetzel Cell` and professor at the Swiss institute, Ecole
Polytechnique Fédérale de Lausanne, Dr. Michael Graetzel, lauded the signing of
the MOU: "This agreement with G24i is a major step toward inexpensive and large
scale commercialization of dye sensitized solar cells."

The commitment to developing DSSC technology runs deep with Professor Peng Wang,
the principal investigator of DSSC at CIAC and CNANE. Professor Wang was one of
the principal contributors in the development of DSSC during his tenure as a
postdoctoral fellow with Professor Graetzel`s group at EPFL in Switzerland, and
is now China`s leading scientist for high-performance DSSC. He commented, "I am
so excited and proud to be bringing Dr. Graetzel`s technology to China in a
meaningful way. I am deeply impressed by the advancements G24i has made in being
the first to have the capability to mass-produce flexible dye-sensitized solar
cells."

China has adopted what is effectively a hybrid model for driving economic
development by blending government and market forces with scientific and
professional disciplines. Professor Xu Jianzhong is president of CNANE and NIBC,
located at China`s Binhai Economic Development Area in Tianjin, and is
responsible for seeing that work at CNANE supports the high tech sector in which
NIBC must attract industry for job creation. "I want to see manufacturing with
technology invented here," emphasizes Xu. "Peng is doing great work here as he
builds up his nanotechnology team. However, the research team doesn`t focus on
manufacturing and that`s why we want to work together with G24i."

About G24 Innovations:

G24 Innovations (G24i) is the leading global manufacturer of next generation
Dye-Sensitized Solar Cells (DSSC), an alternative to traditional silicon solar
cells and a disruptive technology to environment-depleting batteries. Registered
in both the United Kingdom and the United States, the company`s manufacturing
and R&D divisions are based in Cardiff, Wales, and its global sales and
marketing headquarters is in Silicon Valley, California.

G24i holds the license to manufacture the Photovoltaic Dye Solar Cell Technology
of the Swiss institute, Ecole Polytechnique Fédérale de Lausanne (EPFL), in
Europe with unlimited worldwide distribution rights, which includes all current
and forward intellectual property.

G24i`s DSSC modules are ideal for powering mobile electronic devices both
indoors and outside in variable lighting condition. On a larger scale, the
modules integrate effectively into clothing, tents, electronic advertising
displays, and works well for indoor building integrated photovoltaic systems
where local regulation requires on site generation or significant energy
efficiency measures. G24i`s proprietary high speed roll-to-roll manufacturing
process allows for large volume production at our 23 acre, 187,000 square foot
facility. For more information on G24i, please visit: www.g24i.com.

About Changchun Institute of Applied Chemistry, Chinese Academy of Sciences:

Changchun Institute of Applied Chemistry (CIAC) is part of the Chinese Academy
of Sciences (CAS). It was founded in December 1948 as a multidisciplinary
chemical institute dedicated to research in five key areas of chemistry -
polymer science, inorganic chemistry, analytical chemistry, organic chemistry,
and physical chemistry. Currently working in its six-acre campus are 796 faculty
and staff members, including 4 CAS academicians and 3 academicians of The
Academy of Sciences for the Developing World (TWAS). In addition there are 613
graduate students pursuing MS and PhD degrees in the 5 disciplines.

In the past 50 years, CIAC has obtained more than 1,200 scientific and
technological achievements, including nickel-catalyzed cis-1, 4-polybutadiene
rubber, rare-earth separation processes, solid rocket propellants, and
heat-shrinkable polymeric materials technologies, accompanying which are 57
national and 346 CAS, ministry or provincial awards. The CIAC researchers are
also responsible for over 497 issued patents and more than 10,000 published
papers. In addition the institute publishes 2 professional journals, Analytical
Chemistry and Applied Chemistry.

The strategic goal of the Institute is to build on its current strength in
research and development of polymer materials and rare-earth materials, and grow
into a top multidisciplinary chemical institute which combines fundamental
research, applied research, and technology innovation.

About China National Academy of Nanotechnology & Engineering:

On June 23, 2006, under the concern of the CPC Central Committee and State
Council Leaders, the China National Academy of Nanotechnology & Engineering
(CNANE) was established formally. CNANE has been getting great support from the
Ministry of Science and Technology, The Ministry of Finance, The Chinese Academy
of Sciences, The National Development and Reform Commission, The State
Administration of Taxation , The National Natural Science Foundation of China,
Tsinghua University, Peking University, Academy of Military Medical Sciences,
Nankai University, Tianjin University, China National School of Administration,
especially from the CPC of Tianjin Municipal and Government, The Administration
Commission of Tianjin Binhai New Area and the Administrative Commission of
Tianjin Economic and Technological Development Area. Encouraged by the spirit of
"Building an Innovative nation", CNANE has adopted a novel management system and
established a central R&D institution, which is located in the Tianjin Binhai
New Area and has plans to occupy 2 sq. km.

About Nanotechnology Industrialization Base of China:

NIBC was founded under the instruction of the CPC Central Committee and the
State Council on December 6, 20000, and located in Tianjin.

By establishing platforms of talent, capital, technology and information, and by
creating a good policy environment, NIBC cooperates with colleges, research
institutes and large enterprises to develop a new R&D system featuring
collaborated research and dynamic alliance.

NIBC will also establish an innovation system, which will pave the way for the
development of nanotechnology. Thanks to the achievement in nanotechnology,
science and technology-oriented enterprises will be cultivated and developed,
which will help accelerated the development of nanotechnology and relevant
industries.

NIBC has the same strategic orientation and strategic tasks with CNANE. CNANE
was established on the base of the NIBC.

Europe:
G24 Innovations
Jacqui Reid, +44 7973 818 171
jacqui.reid@g24i.com
or
America:
FD (USA)
Niall O`Muilleoir, +1 646-322-2460
niall.omuilleoir@fd.com
or
Asia:
FD (HK/PRC)
Elaine Chan, + 85 263 35 463
elaine.chan@fd.com

Copyright Business Wire 2009