SOURCE: Quantum Solar Power Corp.

February 14, 2011 09:00 ET

Quantum Solar Power Corp. Has Developed a Solar Photovoltaic Technology Which Eliminates the Use of Rare Elements

SANTA FE, NM--(Marketwire - February 14, 2011) - Quantum Solar Power Corp. ("Quantum") (OTCBB: QSPW) is in the development stages of a solar cell technology that could alter the solar power industry's dependence on rare elements.

A rapidly growing sector of the solar cell market is thin-film photovoltaics, so called because of their thin layers of photovoltaic material deposited on a substrate, sometimes only nanometers thick. Although less efficient than silicon PV (most efficient), thin film is growing rapidly due to its lower manufacturing costs. This growth however may be limited by the use of exotic materials in thin-film device manufacture. Leading thin-film devices are based upon CdTe (Cadmium Telluride) and CIGS (Copper indium gallium selenide) technologies that utilize the rare elements indium ($285 per kg in Jan 2009 now $530 per kg), tellurium ($150 per kg in Jan 2010 now $295 per kg) and gallium ($450 per kg in Jan 2010 now $750 per kg). These elements are scarce globally and critical to current thin-film production. Current global electrical consumption is 10 terawatts (ten trillion watts). If thin-film PV solar power is to replace fossil fuel generated power in the future, it must be scalable to this level of production. Given the current limits on the elements used in its production, thin-film PV faces major challenges in its effort to compete with conventional power generation. Additionally, thin-film PV competes for these rare element resources with flat panel LCD TV's and other electronics. Research suggests there may be less than ten years supply remaining of indium alone.

Quantum believes their emerging NGD™ (Next Generation Device) technology will provide high efficiency solar cells with prices competitive with coal generated electricity without the use of any rare elements. According to Quantum's Chief Technology Officer, Dr. Andras Pattantyus-Abraham, "We are extremely excited about the advancements we have made in the past several months. By eliminating the semiconductor layer in conventional PV as the primary absorber of photons, our patent-pending NGD™ would replace the need for rare elements that limit the terawatt-scale deployment of current photovoltaics." Daryl Ehrmantraut, Quantum's CEO, stated, "The sophisticated quantum-level processes employed by Quantum's NGD™ research has a real possibility to finally break down the competitive barrier between solar power and fossil fuels."

About Quantum Solar Power Corp.
Quantum Solar Power Corp. is a U.S. public company based in Santa Fe, New Mexico, engaged in developing and commercializing a revolutionary new solar power technology. Quantum NGD™ is expected to achieve results that will realistically replace coal generated electricity with solar power production, which is the "holy grail of the industry." Quantum Solar Power Corp. is found on the web at: www.quantumsp.com.

Forward-Looking Statements
This news release contains forward-looking statements regarding future events and Quantum's future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act") and constitute "forward looking information" within the meaning of U.S. securities laws. These statements include statements about Quantum's planned technological development plan and are based on material factors and assumptions including Quantum's management's current expectations, estimates, forecasts, and projections about the industry in which Quantum operates and the beliefs and assumptions of Quantum's management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Quantum's future financial performance, Quantum's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including the risk that Quantum's technological development plan may not be successful, and those risks identified in Quantum's Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2010. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Quantum undertakes no obligation to revise or update any forward-looking statements for any reason.

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