SOURCE: Equity Solar

Equity Solar

December 18, 2012 15:07 ET

Equity Solar Signs Former GT Advanced Technology Executive to Oversee Asia Sales

SAN ANSELMO, CA--(Marketwire - Dec 18, 2012) - Equity Solar, Inc., a company specifically established to commercialize a leading-edge solar photovoltaic (PV) technology, today announced that it has signed Lawson Huang, formerly of GT Advanced Technologies, to direct its sales efforts in Asia.

Equity Solar's licensed technology has completed commercial validation and will begin commercial rollout in 2013. The technology increases the efficiency of crystalline PV cells through the use of a unique, patented room temperature silicon oxide growth process.

"Mr. Huang has vast experience in the PV industry in Asia, having represented world-class products from well-established global companies for more than fifteen years," said Equity Solar Chairman Chester Aldridge. "For the past six months, as we were nearing the end of our commercial validation process, we've been actively considering our commercialization options and have concluded that going directly into Asian PV fabrication facilities with top-notch representation makes the most sense in terms of both speed to market and shareholder return."

Prior to GT Advanced Technologies, where he was director of technology for Asia, Mr. Huang held positions at Applied Materials and Freescale Semiconductor (Motorola).

"Equity Solar's technology is a timely solution to a key challenge for Chinese manufacturers, which must boost cell and module efficiency to develop market-leading products without incurring significant capital spend in the current economic environment," said Mr. Huang. "I'm very excited to have the opportunity to introduce such an important product into the Chinese marketplace. It's a tremendous opportunity to be involved in something with such significance for PV manufacturers."

"As a recent addition to Equity Solar's Board of Directors, I was very pleased to have some influence over a critical strategic decision for the company," said Dr. David Maloney, Ph.D., a former DuPont executive who joined the Equity Solar board in November 2012. "This commercialization path makes the most sense for Equity Solar and I applaud Chester and the team for taking this course of action."

Equity Solar expects to sign its initial customer for beta trials in the first quarter of 2013 and to complete its first high-volume manufacturing demonstration by the end of the second quarter of 2013.

About Equity Solar, Inc.

Equity Solar, Inc. was 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 Equity Holdings. For more information, visit www.usequityholdings.com.

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