Nanotechnology Now - Press Release: "REC Founder Joins Innovalight Board"

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Abstract:
Solar Industry Leader Alf Bjorseth Appointed as Director

REC Founder Joins Innovalight Board

SANTA CLARA, CA | Posted on February 27th, 2007

Innovalight, Inc., a privately-held firm developing silicon-ink based printed solar cells,
today announced that eminent industry entrepreneur Alf Bjorseth has joined its
board of directors.

Dr. Bjorseth is founder and former president and chief executive
officer of Renewable Energy Corporation (REC), one of the largest
vertically integrated solar energy companies in the world. REC is also the
world's largest manufacturer of solar-grade polysilicon and wafers.

In 1994, Dr. Bjorseth started ScanWafer, specializing in the production
of multicrystalline silicon wafers for the solar industry. He subsequently
started three additional companies related to solar cell and module
production, as well as a solar module installation company. These companies
were later merged into one holding company, Renewable Energy Corporation
(REC), of which Dr. Bjorseth served as president and CEO from the start.

In 2005 Dr. Bjorseth retired as president and CEO of REC and is
currently chairman of Scatec AS, which focuses on establishing new
companies based on advanced technologies in the area of renewable energy
and materials.

"We are truly honored to have Alf Bjorseth join our board," said Conrad
Burke, president and chief executive at Innovalight. "Alf's inspiring track
record in building successful global solar energy companies will be
invaluable in helping guide our long-range strategy," he added.

"Innovalight's approach to developing solar cells with novel silicon
ink processing is very promising," said Dr. Bjorseth. "This is an exciting
period for new and emerging technologies in the field of solar energy," he
added.

Innovalight was recently recognized as a Technology Pioneer award
winner at the Annual Meeting of the World Economic Forum (Davos,
Switzerland) for the company's promising potential to substantially reduce
the cost of producing clean, renewable energy.

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About Innovalight, Inc.
Innovalight, founded in 2002 is based in Santa Clara, California. The
company is a vertically integrated early-stage firm developing a new
platform of ultra low-cost, high-performance solar cells based on silicon
nanotechnology. Innovalight is venture capital backed by ARCH Venture
Partners, Apax Partners, Harris & Harris Group, Inc., Sevin Rosen Funds and
Triton Ventures.

For more information, please click here

Contacts:

Innovalight, Inc.
3303 Octavius Drive
Suite 104
Santa Clara
California 95054
t: 408-987-9400
f: 408-987-9494

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