GreenVolts to Deliver Wholesale Distributed Energy to Pacific Gas & Electric Company

SAN FRANCISCO, CA--(Marketwire - June 27, 2007) - GreenVolts (www.greenvolts.com), a leader in high concentration photovoltaic technology and wholesale distributed energy, today announced that it has signed an agreement to deliver a two-megawatt solar electric power plant for Pacific Gas & Electric Company starting in 2008. When completed, GV1 will be the largest concentrator photovoltaic project in the world.

The company's advanced concentrator technology can deliver nearly twice the amount of energy for every dollar spent and its flexible system design allows this energy to be delivered anywhere along the grid -- saving time and money for utility customers. The company's complete systems approach reduces both the initial infrastructure cost and, even more importantly, the levelized cost of energy over time.

"GreenVolts' concentrator technology makes the sun a realistic and economical source of renewable energy for utility companies and their customers," said Bob Cart, founder and CEO of GreenVolts, Inc. "By emphasizing efficiency and flexibility, GreenVolts can rapidly deploy solar power plants that deliver more energy per dollar than conventional technology, but with a smaller footprint and that can be located anywhere along the grid -- saving utilities more time and money."

GreenVolts' patent-pending high concentration photovoltaic system concentrates 625 suns of energy onto a highly efficient solar cell and can deliver energy at a competitive cost. The size and flexibility of the company's system allow it to be placed nearer to the demand than other alternatives, helping utility companies avoid constructing costly transmission lines or having to upgrade existing power grids.

"This project provides PG&E with a clean, reliable, and cost efficient way to deliver additional solar power to our customers," said Fong Wan, vice president of Energy Procurement, PG&E. "By harnessing the power of the sun's rays in a scalable way, we are taking a significant step towards reaching California's renewable portfolio goal of supplying twenty percent of our customer needs with qualifying renewable energy by 2010."

The core of the GreenVolts' solution is a 3kW low profile platform known as a CarouSol that tracks the sun as it moves across the sky. The technology uses less than one-thousandth of the solar cell material of conventional solar panels, and the entire system is optimized for the lowest cost of energy.

GreenVolts will construct its two-megawatt solar plant for Pacific Gas & Electric outside of Tracy, California in two phases, with the first phase completed by fall of 2008 and the second a year later.

About GreenVolts

GreenVolts is a solar power company that supplies massive amounts of efficient energy to utility companies so that they can provide green energy to their end customers economically and with only a flick of the switch. Solar power is the best possible utility-scale solution because it can be forecast with reliability and because it shines brightest when it's needed most -- during the daytime peak hours. GreenVolts' HCPV technology is more efficient than any other photovoltaic solutions on the market and its ability to be located near to the load makes it more desirable than other solar technologies because it eliminates the need for utility grid upgrades. The company is based in San Francisco.

Contact Information: Press Contact: Michael Azzano Cosmo PR for GreenVolts 415/596-1978