Xunlight Receives $11 Million Additional Financing From Institutional Investors

TOLEDO, OH, Aug 29 (MARKET WIRE) --
Xunlight Corporation, a leader in the development of low-cost and
flexible thin-film silicon solar modules, today announced it has received
$11 million of additional financing from institutional investors. The
investment was led by Rabo Ventures, a division of Rabobank, a top 25
global financial institution based in the Netherlands. Existing investors
Trident Capital and Emerald Technology Ventures also participated in the
financing.

The proceeds of this investment will be used to fund expansion of
manufacturing operations and for working capital requirements. The Company
operates a 2 Megawatt roll-to-roll pilot production line and is building a
25 Megawatt roll-to-roll production line to manufacture flexible and
lightweight photovoltaic products.

This investment accompanies a recently awarded $4.97 million grant from
the State of Ohio's Third Frontier Projects, which will be used to further
improve the Company's manufacturing technologies.

The Company management and Rabo Ventures representatives will provide
additional details at 3:00pm on Monday, September 1, 2008, at Xunlight
Exhibit Booth (#3 D39) at the 23rd European Photovoltaic Solar Energy
Conference and Exhibition in Valencia, Spain.

"We are very excited to have investors like Rabo Ventures join our team.
This will further enhance our strategic connections to assist our
expansion into the European market," said Xunming Deng, CEO of Xunlight.
"We look forward to working with Rabo Ventures and existing investors to
accelerate the build out of our manufacturing operations."

"Xunlight is well positioned to become a global leader in the flexible
thin-film solar market. Xunming Deng has brought together a strong,
experienced management team and, in collaboration with the University of
Toledo, led the development of a unique technology base for the company.
We are excited to have the opportunity to make this investment and look
forward to supporting the company with its growth ambitions," said Adam
Anders of Rabo Ventures.

About Xunlight Corporation

Xunlight Corporation, a technology spin-off from the University of Toledo,
engages in the development, manufacture, and marketing of photovoltaic
modules that convert sunlight into electricity. The company develops
thin-film silicon based photovoltaic products and manufacturing equipment
for high-throughput production of flexible and lightweight photovoltaic
modules at low cost. Xunlight has received over $40 million institutional
investments during the past 16 months to build out its roll-to-roll
production lines. The company has also received over $10 million R&D
funding from the US Department of Energy, US Department of Commerce and
Ohio Department of Development to develop its products and manufacturing
process. Xunlight was featured in the October 8, 2007 issue of Newsweek
magazine, a March 24, 2008 report of CNN News. The company is
headquartered in a 122,000 sqft manufacturing facility in Toledo, Ohio.
For additional information, visit www.xunlight.com.

About Rabo Ventures

Rabo Ventures is part of the Rabobank Group, ranked as one of the top 25
global financial institutions and a leader in sustainability-oriented
banking. Rabobank has been involved in the financing of large sustainable
projects such as bio-fuel plants and wind parks in different European
countries for the last several years. In line with the greater ambition of
Rabobank to provide services for the entire industry, the bank has
launched Rabo Ventures to help finance innovations in clean technology.
This venture capital fund focuses on fast growing cleantech companies
which encompass a broad range of technologies dealing with renewable
energy generation and environmental issues such as clean water and clean
air. For additional information, visit www.raboventures.com.

For more information, please contact:

Todd Armstrong
Business Assistant to the CEO
Xunlight Corporation
3145 Nebraska Avenue
Toledo, Ohio 43607
Tel. 419-469-8622 (Direct)
Fax 419-469-8601
Email Contact

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