SOURCE: Equity Solar, Inc.

Equity Solar, Inc.

November 12, 2009 16:37 ET

Equity Solar Signs Commercial Validation Agreement

Equity Solar, Inc. Hires Fraunhofer Center for Sustainable Energy Systems (CSE) to Provide Commercial Validation

SAN ANSELMO, CA--(Marketwire - November 12, 2009) - Equity Solar, Inc., a company specifically established to commercialize a leading-edge solar photovoltaic (PV) technology, today announced that it has entered into a validation agreement with Fraunhofer USA's Center for Sustainable Energy Systems (CSE).

Under the terms of the agreement, Fraunhofer will provide comprehensive experimental validation of a cutting-edge, patented solar technology that Equity Solar has licensed from Special Materials Research and Technology, Inc. (SPECMAT). SPECMAT's CEO Dr. Maria Faur will support Fraunhofer in this process.

For more than fifty years, Fraunhofer has played a vital role in the research and commercialization of new technologies. At present, Fraunhofer is comprised of 80 institutes and centers spread across the world, including the recently opened Fraunhofer CSE located in Cambridge, MA.

"Dr. Faur had provided us with some compelling technical validation prior to us licensing the technology," stated Chester Aldridge, Chairman of Equity Solar. "We've hired Fraunhofer to take the validation one step further, assessing all aspects of the technology individually and together, and to evaluate its readiness for commercialization."

"We are very pleased that Equity Solar chose Fraunhofer to validate its solar PV technology," stated Nolan Browne, Managing Director of Fraunhofer CSE. "This is an exciting project for us at the CSE because Equity Solar's technology, if validated, has the potential to have a positive effect on the efficiency and production cost of solar cells which once commercialized could help drive solar closer to grid parity."

About Equity Solar, Inc.

Equity Solar, Inc. was specifically formed to commercialize a leading-edge patented solar photovoltaic (PV) technology licensed from Special Materials Research and Technology (SPECMAT).

Equity Solar, Inc. was founded and incubated by the management team of US Trust Corp. For more information, visit

About the Fraunhofer Center for Sustainable Energy Systems

Located in Cambridge, MA, the Fraunhofer Center for Sustainable Energy Systems (CSE) is dedicated to serving the research needs of the sustainable energy industry, helping established industry players and newcomers alike move clean energy technologies from the laboratory to the production line. At current, the Center focuses on three key areas: energy device prototyping, solar module testing and innovation, and building efficiency.

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