HelioVolt Hires Former DuPont Executive as CTO

Business Wire, April 21, 2008

Louay Eldada to Develop, Drive Technical Roadmap for Solar Thin Film Pioneer

AUSTIN, Texas -- HelioVolt Corporation, a producer of highly-efficient thin film solar energy products, announced today that Louay Eldada, Ph.D., has joined as chief technical officer. A technical leader with proven track record at both small and large companies, Dr. Eldada joins HelioVolt from E.I. du Pont de Nemours & Company (DuPont) where he served as CTO, vice president of technology, vice president of engineering and board director for DuPont Photonics Technologies. In the new position at HelioVolt, Dr. Eldada will direct strategic technology planning and development for the company's advanced thin film solar energy products.

"HelioVolt has consistently hit its milestones for bringing our advanced solar technology to the global energy market, momentum that we aim to sustain as we launch and diversify our product offering," said HelioVolt CEO and founder Dr. BJ Stanbery. "Louay brings a unique combination of Fortune 500 operational expertise, entrepreneurial drive and technical achievement, experience that makes him well-suited to align technology development with the needs of our partners and customers as we continue to execute on our plan for strategic growth."

HelioVolt is commercializing a suite of high performance copper indium gallium selenide (CIGS) photovoltaic products based on the company's rapid FASST[TM] manufacturing process. The proprietary process can be used to print high efficiency, low-cost photovoltaic materials for solar panels, integrated systems, and solar-enabled building products including architectural glass and roofing tiles. Managing both internal and collaborative technology development, Dr. Eldada will provide leadership to HelioVolt's relentless pursuit of enabling technologies for higher performance and lower cost product offerings.

"Renewable energy has been a lifelong passion of mine. I'm looking forward to applying my experience in defining technology roadmaps and achieving those strategic targets to my new role at HelioVolt, a company as dynamic and promising as the growing solar energy market it intends to help reshape," said Dr. Eldada.

Prior to his five-year tenure at DuPont, Dr. Eldada founded and managed Telephotonics Inc., which was acquired by DuPont. Dr. Eldada also served at Honeywell Inc. (formerly AlliedSignal Inc.) where he started the Telecom Photonics business unit and directed its R&D arm. The group's success led to its acquisition by Corning Inc. where Dr. Eldada continued to manage technical development. A testament to his scientific and engineering acumen, Dr. Eldada has further published more than 170 technical papers, organized or presented at more than 230 conferences, garnered 43 technical awards and filed 39 patents. He holds a Ph. D., M.Phil., M.S. and B.S. in Electrical Engineering from Columbia University specializing in compound semiconductor optoelectronic devices.

About HelioVolt

HelioVolt Corporation, based in Austin, Texas, is a manufacturer of a new generation of thin film photovoltaic products based on its proprietary FASST[TM] manufacturing process. The company's low-cost, rapid production methods for CIGS synthesis are protected by both nine issued US patents and by numerous global patents pending. In 2007, HelioVolt raised over $100M in venture financing to fund the company's move towards volume production and international expansion. For additional information, visit www.heliovolt.com.