SOURCE: Equity Solar, Inc.

Equity Solar, Inc.

October 28, 2009 16:00 ET

Equity Solar Signs Key License Agreement

Equity Solar, Inc. Signs Worldwide Exclusive License Agreement With SPECMAT, Inc. for Cutting Edge Solar Technology

SAN ANSELMO, CA--(Marketwire - October 28, 2009) - Equity Solar, Inc., a company specifically established to commercialize a leading-edge solar photovoltaic (PV) technology, today announced it has signed a worldwide exclusive license agreement with Special Materials Research and Technology (SPECMAT), Inc. for cutting edge patented solar technology developed by SPECMAT.

SPECMAT's patented technology is used within the photovoltaic (PV) cell manufacturing line and creates a silicon oxide-based anti-reflective coating (ARC). In addition to increasing light capture through the ARC, the technology lowers plant and operating costs, increases manufacturing throughput and yield, and dramatically improves cell efficiency. These benefits are achieved at room temperature using a wet chemical process, a significant improvement over standard ARC technologies that require high temperatures and complex equipment to achieve inferior results.

The technology was invented by SPECMAT CEO Dr. Maria Faur while working on a research project with NASA's Glenn Research Center. During this time, Dr. Faur had the privilege of working with some of the leading scientists in the solar photovoltaic (PV) industry.

"We are very excited to announce this partnership," stated Chester Aldridge, Chairman of Equity Solar. "We've been working with Dr. Faur for more than a year on this technology and I'm honored that she has the confidence in us to put her life's work in our care. It's great to have the opportunity to work with world-class technology that has the ability to make a significant economic and environmental impact."

"This technology is the result of nearly thirty years working in photovoltaic research," stated Dr. Faur. "Numerous organizations have approached SPECMAT with offers of strategic partnerships, buy-outs and licensing deals, but it wasn't until I met Chester and his team that I felt comfortable sharing my work. I think they are the best group to commercialize the technology, and I'm very happy today to announce this partnership."

NASA has non-commercial rights to the patented technology, jointly owned by NASA and SPECMAT, that has been licensed by Equity Solar. Equity Solar has requested an assignment of NASA's undivided interest in the jointly developed patent.

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 www.ustrustcorp.com.

About SPECMAT, Inc.

Special Materials Research and Technology (SPECMAT), Inc. is a technology research company incorporated in the State of Ohio. SPECMAT has developed novel thin film dielectrics, thin film metal coating technologies, and advanced metallic alloy coating technologies for a variety of electronic (ULSI / VLSI), optoelectronic/photonic (photovoltaic cells), and special metal coating applications.

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