HelioVolt’s Solar Technology Awarded Two Wall Street Journal Innovation Honors

Thin-film Pioneer Wins Overall Silver and First in the Energy and Power Category

AUSTIN, Texas--September 29, 2006--HelioVolt Corporation announced today that it was chosen as the Overall Silver winner of the prestigious Wall Street Journal Technology Innovation Award, as well as the first-place winner in the Energy and Power category. Selected from over 600 applications by a panel of expert judges from industry, research, and academia, the awards recognize the pioneering work of Dr. B.J. Stanbery for his novel FASST™ thin film manufacturing technology and underscore a year of growth for the company.

The Wall Street Journal award follows on recent technology and innovation accolades for HelioVolt including a Nanotech Briefs’ Nano 50™ award, a Frost & Sullivan 2006 Innovation Award, and a finalist for Small Times’ Best of Small Tech Business Leader award. HelioVolt is gaining momentum with its proprietary manufacturing process FASST™ that produces photovoltaics at least ten times faster than thin-film competitors. Marking a paradigm shift in solar technology, HelioVolt’s thin-film CIGS can be applied directly onto conventional construction materials including steel, architectural glass, and roofing materials creating power-generating buildings.

“The key to HelioVolt’s innovation lies in its unique ultra-rapid manufacturing process -- a process which delivers the superior materials performance of CIGS at dramatically reduced costs,” said Arno Penzias, a Nobel Laureate and New Enterprise Associates Venture Partner. “In creating this process, HelioVolt has dramatically reduced a key market obstacle for thin film PV manufacturing, and paves the way for a wider range of ways in which we can tap into the enormous resource that solar energy can offer to all of us.”

“In such a competitive market, it speaks volumes that our technology has been recognized, not simply in the energy category, but in overall technology innovation,” said Dr. B.J. Stanbery, President and CEO of HelioVolt. “This award validates our technology and our commitment to commercializing a highly efficient manufacturing process to bring thin-film technology to the global marketplace.”

Securing his reputation as a leader in the solar industry, thin-film efficiency world record holder, Dr. Stanbery will be speaking at the Silicon Hills Summit in Austin, TX on September 28, 2006. In addition, Dr. Stanbery will have a visual presentation on display at the Great Wall World Renewable Energy Forum in Beijing, China from October 24 – 26, 2006.

About HelioVolt

HelioVolt Corporation was founded in 2001 in order to develop and market new technology for applying thin-film photovoltaic coatings to conventional construction materials. The company's proprietary FASST (TM) process, based on semiconductor printing, was invented by HelioVolt founder Dr. Billy J. Stanbery, an eminent expert within the international PV community in the materials science of CIGS and related compound semiconductors. FASST (TM) is a low-cost, flexible manufacturing process for CIGS synthesis and is protected by both eight issued US patents and by global patents pending. For additional information, visit www.heliovolt.com.

Source: HelioVolt Corporation