Feb. 1, 2007 — HelioVolt Corporation and Exeltech announced a joint development agreement to commercialize turnkey systems for cost-effective, reliable solar energy generation. The collaboration will draw on HelioVolt’s proprietary FASST™ technology for rapid CIGS thin-film production and Exeltech’s core competencies in high performance AC power system design and manufacture. Development and manufacture of the planned solar energy systems will take place at company headquarters in both Austin and Fort Worth.

The companies intend to develop streamlined systems for both conventional solar module and building integrated photovoltaic (BIPV) products. Enabled by advances in material efficiencies, product design and system integration, the resulting grid interactive products are expected to offer benefits in the form of high volume manufacturing, simple installation and easier monitoring and maintenance throughout the system’s lifetime.

“The flexibility of the HelioVolt design lends it self perfectly to integration with Exeltech’s newest generation of grid interactive products,” said Kevin Parsons, vice president and director of marketing for Exeltech. “We feel the merging of these two very cost effective designs can make a photovoltaic product deployable on scale that will have a significant impact on the growing power needs of both residential and commercial customers and will reach a price parity with today’s conventional generating methods.”

“As HelioVolt’s product development moves forward, this collaboration is perfectly in line with our strategy to partner with best of breed organizations that can speed thin film enabled product to market,” said Dr. B.J. Stanbery, CEO and founder of HelioVolt. “Exeltech has earned an outstanding reputation as producer of one of the power industry’s highest quality, most reliable inverters. We look forward to matching that systems-level expertise with HelioVolt’s own proficiencies in rapid CIGS manufacture to deliver a simple, cost effective solar energy product.”