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HelioVolt Opens First Solar Thin Film Factory in Austin, Texas

Flagship Manufacturing Facility to Provide 160 New Green Jobs

Austin, Texas – October 24, 2008 — Today HelioVolt Corporation will cut the ribbon on its first factory for manufacturing high-performance thin film solar energy products. The 122,400 square foot sustainable facility in Austin, Texas is expected to create approximately 160 new jobs for the U.S.'s growing renewable energy sector. City officials, state and federal representatives, and energy industry leaders will join HelioVolt executives and staff in dedicating the new solar factory.

"Integrating environmental sustainability, new green jobs and technology innovation, HelioVolt is precisely the type of emerging leader in the global renewable energy industry that this city values," said Austin Mayor Will Wynn. "This home-grown company is hard at work building a better way of harnessing clean electricity from the sun while energizing our local economy at the same time."

"Clean and renewable energy technologies likely represent the single greatest economic opportunity of our generation. We at HelioVolt are proud to be contributing to job creation, market growth, energy stability and environmental sustainability -- the combined benefits that makes this new clean economy a positive direction for our country," said HelioVolt's CEO and Founder, Dr. B.J. Stanbery.

Dedicated to sustainability in both product and practice, HelioVolt will house its first manufacturing operations in a certified green building. The company's new facility achieved LEED (Leadership in Energy Efficiency and Design) certification by both Austin Energy's Green Building Program and the U.S. Green Building Council. Specific sustainability initiatives include: efficiency in lighting, energy and water conservation, sustainable materials, indoor environmental quality, design process innovation, and creative water reuse.

"This company was founded on the principal of making solar energy cost-effective, essentially aligning economic and environmental interests to fundamentally change our global energy industry. We are furthering that vision by ensuring that this company is built upon the very concepts of sustainability that we aim to enable in others," said Dave Bowen, vice president of operations at HelioVolt.

The factory marks the first commercial implementation of HelioVolt's proprietary FASST® reactive transfer printing process for solar thin film production. FASST®is designed to bring solar energy to grid-parity by combining lower cost thin film materials with superior manufacturing efficiencies and high quality end products. Confirmed through independent testing, FASST®delivers copper indium gallium selenide (CIGS) solar cells exceeding 12 percent conversion efficiency in a record setting six minutes. These conversion efficiencies place HelioVolt's CIGS devices among the highest performing solar thin film products on the market today. HelioVolt is using FASST®to develop both conventional modules and next-generation building integrated photovoltaic (BIPV) products for the global solar energy market.

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® 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® is a low-cost, flexible manufacturing process for CIGS synthesis and is protected by both fifteen issued US and foreign national patents and by numerous additional global patents pending. For additional information, visit