SOURCE: GiraSolar

May 22, 2006 10:42 ET

GiraSolar Files for Patent and Starts Certification of US Made Modules

DEVENTER, THE NETHERLANDS -- (MARKET WIRE) -- May 22, 2006 -- GiraSolar (PINKSHEETS: GRSR) today announced that it has filed for a patent on its break-through proprietary silicon production process.

The research team of GiraSolar, consisting of Prof. Dr. De Haan, Dr. Ten Kortenaar and Ir. Dobberstein, filed for the patent now that the first phases of the project have been completed.

GiraSolar R&D team leader Ir. Uwe Dobberstein, a specialist in the field of chemical process engineering, stated: "We are very pleased to have received the official registration number. It is the first recognition of our efforts to find new and more effective ways to produce solar grade silicon at a lower cost price. From here onward we will work diligently towards bringing the technology up to par with industrial standards, ready for implementation."

GiraSolar BV COO Dirven stated: "The enthusiasm of the R&D team concerning the development of this technology has spread across the group. We believe we may now have technology that will significantly impact the silicon shortage and reduce the cost price of silicon itself. We further believe investments for a production plant are considerably lower and the time from green field to operation appears to be much shorter than for a conventional plant. Currently we expect that the cost price at a full sized production plant level to be less than 10 Euro or 12 USD per kg. The cost price of conventional silicon is around 26 USD/kg. In the coming months we should be receiving confirmations on our estimates, but these first results and the official filing of the patent request are important and very encouraging."

The patent request was filed two weeks ago with the "Algemeen Octrooi en Merkenbureau" in Eindhoven, The Netherlands, under guidance of Dr. V.S.I. Sprakel. Today Dr. Sprakel announced that the filing is officially registered as "Nederlandse Octrooiaanvrage nr. 1031734" (Dutch Patent request nr. 1031734).

GiraSolar BV CEO Koornstra added: "This month appears to be a month in which we take some significant strides forward. The first USA made modules of our G5-36, G5-72 and G6-36 have been produced and the first steps towards UL and IEC certification have been taken. On top of that we filed our patent request for our proprietary silicon production process. These events should have a long term and strategic impact on our market position."

This press release contains forward-looking statements within the meaning of federal securities laws. The Company cautions you that any statements contained in this press release which are not strictly historical statements constitute forward-looking statements. Such forward-looking statements include, but are not limited to, those related to Company's expectations regarding the impact of technology on the silicon shortage and cost of silicon, the cost price of production, and the long term and strategic impact on the Company's market position. These statements are neither promises nor guarantees, and involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, (copies of which may be obtained at the SEC's website at: http://www.sec.gov) -- could impact the forward-looking statements contained in this press release. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they are made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in Company expectations, or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

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