SOURCE: GreenVolts

October 09, 2007 10:55 ET

GreenVolts Wins Accolades at Fifth Annual Energy and Clean Technology Venture Forum

Company's Ability to Deliver Solar Power at Fossil Fuel Costs Makes It One of the Most Promising Energy Technology Companies as Named by the Rice Alliance

SAN FRANCISCO, CA--(Marketwire - October 9, 2007) - GreenVolts (www.greenvolts.com), a leader in high concentration photovoltaic technology and wholesale distributed energy, today announced that it was named one of the Most Promising Energy Technology Companies by the Rice Alliance at the Fifth Annual Energy and Clean Technology Venture Forum. GreenVolts was selected from more than 50 participating companies based on the commercial potential of its proprietary technology and the impact its technologies is expected to have on the energy industry.

GreenVolts delivers solar power at fossil fuel costs. The company's breakthrough concentrator photovoltaic (CPV) technology efficiently integrates tracking and optics into a system that dramatically lowers energy cost. Through low cost and high efficiency GreenVolts can access large markets previously inaccessible to solar power.

"We are thrilled to be recognized by the Rice Alliance and are pleased to be a part of their great event," said Bob Cart, founder and CEO of GreenVolts. "Our technology and complete systems design allow us to change the economics of solar by competing in unsubsidized markets at peak fossil fuel cost."

GreenVolts' CarouSol system is a two-axis sun-tracking platform onto which an array of power units is placed. These power units concentrate 625 suns of energy onto high efficiency photovoltaic cells. The optical and tracking systems were designed together as one system in order to provide the necessary increase in performance.

GreenVolts targets the one-to-twenty megawatt near load, daytime peak power market, which includes utilities and large commercial, industrial, and municipal consumers. GreenVolts recently signed a power purchase agreement with Pacific Gas & Electric Company for a two megawatt CPV power plant that, when completed, will be the largest in the world.

About GreenVolts

GreenVolts, Inc., based in San Francisco, was founded in 2005 to deliver solar power at costs competitive with that derived from fossil fuels. The company's breakthrough high concentration photovoltaic technology efficiently integrates tracking and optics into a system that dramatically lowers energy cost. Through low cost and high efficiency the Company can access large markets previously inaccessible to solar. GreenVolts changes the economics of solar energy.

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