SOURCE: BioSolar, Inc.

March 10, 2008 09:05 ET

BioSolar Reports Successful Development of First Generation Commercial Product

Company Expects New Bio-Based Product to Be Well Received in Growing Solar Cell Market

SANTA CLARITA, CA--(Marketwire - March 10, 2008) - BioSolar™, Inc. (OTCBB: BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic solar cells, today reports the successful development of its first generation commercial product, a backsheet component for photovoltaic cells. The new bio-based product, christened the "BioBacksheet" is the successful result of the company's technology development program.

As previously reported by BioSolar, record high oil prices and the emergence of a renewed emphasis on environmental awareness coalesced to create an inflection point for the development of a new market segment in the multi-billion dollar photovoltaic industry. The company's management believes that this market phenomenon provides a unique competitive advantage for BioSolar's bio-based solar cell components.

In rapid succession, the company reported the successful scale-up production run of bio-based films (Dec 07), the culmination of a rigorous testing protocol which moved the company another step closer to UL certification (Jan 08), and most recently the company announced the expansion of its R&D facilities and the establishment of its physical plant (Feb 08).

"As a result of our rigorous product development cycle, we now have the relevant data and positive test results that enable us to commit the company to full production of this particular product," said Dr. David Lee, BioSolar's CEO. "The decision is based on the product's cost benefits as well as durability -- selected from proven configurations as a result of BioSolar's own testing protocol as reported in January of this year."

Elaborating on the specific characteristics of the final product, Dr. Stan Levy, the company's CTO, explained that "this backsheet material is a composite utilizing two different sustainable resources, each of which has the necessary Underwriter's Laboratories Relative Thermal Index (UL RTI) to be accepted by the major photovoltaic manufacturers."

This is a key element to rapid attainment of market share, because it is much easier for a photovoltaic module manufacturer to obtain a re-certification of their UL approved module when they replace a component with a material that already has the required UL RTI. "This was a key directive in our product development strategy," noted the company's CEO.

"We expect that backsheet samples will be made available in commercial quantity to crystalline silicon photovoltaic module manufacturers in mid 2008, with full production runs to be scheduled based on the initial market response," said Dr. Lee. "Availability of these samples at quantity means that mainstream photovoltaic module manufacturers now can undertake their own UL recertification process utilizing BioSolar's BioBacksheet product."

About BioSolar, Inc.

BioSolar, Inc. is developing a breakthrough technology to produce bio-based materials from renewable plant sources that will reduce the cost per watt of solar cells. Most of the solar industry is focused on photovoltaic efficiency to reduce cost. BioSolar is the first company to introduce a new dimension of cost reduction by replacing petroleum-based plastic solar cell components with durable bio-based materials. To learn more about BioSolar, please visit our website at http://www.biosolar.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities learn more about BioSolar, please visit our website at http://www.biosolar.com. Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Contact Information

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    BioSolar, Inc.
    Investor Relations
    (877) 904-3733
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