SOURCE: Nanosolar

September 11, 2012 17:00 ET

Nanosolar Appoints President and COO, Announces Executive Changes

SAN JOSE, CA--(Marketwire - Sep 11, 2012) - Nanosolar Inc. today announced the appointment of Karl Steigele, a seasoned IBM executive, to the newly created position of president and chief operating officer, and the departure of CEO Eugenia Corrales, who has left the company to pursue other ventures. In addition, Guido Polko, will strengthen his role as executive chairman of Nanosolar's board of directors, taking a more active role in the company.

"We welcome Karl to Nanosolar and look forward to Guido's continued leadership," said Erik Straser, partner at Mohr Davidow Ventures and a Nanosolar board member.

Steigele is a seasoned executive who brings 40 years of manufacturing and strategic management experience to Nanosolar. He spent more than 30 years in international management and consulting at IBM, where he worked with Fortune 500 global manufacturing companies, including Intel, Hitachi, ABB, Thomson, Siemens, Sony and McKesson, among others.

"Based on our printed and low-cost CIGS manufacturing technology, Nanosolar is well positioned for global growth as the company approaches completion of its largest solar site in Europe," said Polko. "We want to thank Eugenia Corrales for her substantial contributions to Nanosolar, with respect to the build-out of the manufacturing capabilities and the commercialization of Nanosolar's first product."

About Nanosolar
Nanosolar designs, engineers, and manufactures innovative thin-film solar cells and panels based on printing CIGS (Copper, Indium, Gallium, Selenium) proprietary inks on low-cost aluminum foil. The company's current product, the Nanosolar Utility Panel, enables competitively priced peak power and installed system economics at utility-scale. Nanosolar operates the industry's first roll-to-roll solar cell printing factory at its headquarters in San Jose, Calif., and a panel-assembly factory in Luckenwalde, Germany. For more information, please visit www.nanosolar.com.

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