intro to heliovolt

HelioVolt Confidential and Proprietary

Introduction to HelioVolt –

Manufacturer of High

Efficiency Thin Film Modules

HelioVolt Company Information 1

Company Highlights

Disruptive Vacuum and Liquid CIGS

Technology

Demonstrated 12.3% Production Module with

average efficiencies exceeding 11.7%

Extensive IP PortfolioAnd Technical

Expertise

Unique NREL Relationship

Large, Proven Market with Long Term Secular

Growth

$0.52 COGS / Watt and $0.36 CapEx / Watt

at 1 GW Scale


Next Generation High-performance and Low-cost Solar Technology

• Disruptive Vacuum and Liquid CIGS technology platform

• $0.52 COGS / Watt and $0.36 CapEx / Watt at 1 GW Scale

• Demonstrated 12.3% efficiency on monolithically integrated module with production efficiencies averaging 11.7%

• Extensive CIGS intellectual property portfolio

– 9+ years and ~$145mm of R&D

• Efficiency roadmap to 16%+ in 2014

• Exclusive technology commercialization partnership with NREL

• Fully equipped R&D line in Austin

• Deep technical team

• Plan for production expansion under development


NREL CRADA established

12% cell efficiency achieved

Series A funding

HelioVoltfounded

12% prototype moduleand 14% cell efficiency

achieved

12.3% production module efficiency

achieved

Exclusive NREL IP Agreement

Series B funding

Opened first factory in Austin, Texas

Industry veteran Jim Flanary joins as CEO

FASST® Process wins Nano50 Award

Wall Street Journal Technology Award

HelioVolt and NREL win R&D 100 Award

Time Magazine’s “Best Inventions of 2006”

2009 20102007200520032001 2006 2008

Printed Electronics Industry Award 1st production run

August 2009

Commercial agreements signed for 3 years of

production

HelioVolt Corporate History

2011


Company Introduction –Experienced Management Team

Jim Flanary, President & CEO

Extensive thin-film solar experience - former COO of First Solar and former COO of HelioSphera(micromorph-si module manufacturer based in Greece). Division President and General Manager at ITT Night Vision – leader in military and commercial products. 30+ years in early and late-stage private and public companies.

BJ Stanbery, Chairman & Chief Technology Officer

17 years at Boeing – responsible for manufacturing scale-up, product cost-driven project management, space and terrestrial solar product development. Holds 22 patents for thin-film PV technology.

Iga Hallberg, VP Business Development

Held multiple international marketing and business development roles at 3M. Former Director of Business Development and General Manager for nanoparticle inks and coatings and equipment solutions at NovaCentrix.

John Prater, Director of Supply Chain

Former Strategic Sourcing Executive at OerlikonSolar and Applied Materials, supporting manufacturing, spares and thin film solar sourcing teams.

Steve Darnell, VP Finance

20 years experience in financial management of technology companies. Factory start-up experience at Compaq and Seagate.

Key Investors


Extensive Intellectual Property Portfolio

• 11 patents issued, 9 patent applications filed and 5 new patent applications in progress with 100 international extensions in total:– Deposition methods include both vacuum and liquid coating (NREL)

– Precursor material

– CIGS synthesis

• Proprietary trade secrets and know-how

• Exclusive technology commercialization partnership with NREL– Disruptive evolutionary technology roadmap to low-cost 16% products


Final Assembly& Test

ModuleFormation

FASST® CIGSProcess

GlassPreparation

HelioVolt Module Production Process

Glass In

Module Out


Our Process vs. Alternatives

Our Process – Monolithic Integration

Glass In Module Out

GlassPreparation

FASST® CIGSProcess

ModuleFormation


Competitors’ CIGS Cell-Based Processes

Substrate In Module Out

SubstratePreparation

CIGSProcess

Contact & GridFormation

Cell Cut & Sort Cell Stringing

Silicon Process

Polysilicon Ingot Wafer Solar Cell Solar Module


Source: Wall Street research.

Monolithic integration:•Better long-term product reliability•Lower COGS


Competitive Technology Advantage• Disruptive vacuum and liquid CIGS technology platform

– Advanced liquid precursor technology enables high efficiency and low cost strategy

• FASST® CIGS process advantages

– Two-stage process provides maximum flexibility to optimize precursor deposition method and composition of each layer: higher efficiency

– Most rapid synthesis of CIGS from precursors of any method: reduces capital costs

– Demonstrated state of the art crystalline quality: higher efficiency

– Unique, rapid, flexible optimization of CIGS surface quality: higher efficiency

• Monolithic module circuit integration

– Reduces module assembly costs compared to discrete cell assembly

• Advanced module packaging

– Unique, high performance encapsulant, edge sealant, and potting compound supports product lifetime beyond standard 25 year warranty:

reduces cost of electricity (¢/kWh)

Glass In

Module Out

GlassPreparation

FASST® CIGSProcess

ModuleFormation



HelioVolt CIGS Module

• HelioVolt CIGS Photovoltaic Module

– Commercial, residential, utility applications

– BIPV products in development

– Module construction: Standard glass component laminate

– Specifications to match most popular thin film product in the industry

• HelioVolt Differentiation

– State of the art monolithic integration design

– Proprietary packaging materials for exceptional environmental reliability and lifetime

– Variable form factor adaptable to multiple applications


12.3% HelioVolt Champion Module


• Development work based on HelioVolt patents and trade secrets will drive module efficiency from 10% to 16%

• Advanced Technology Development will drive module efficiency from 16% to 21%

6%

12%

18%

0%

2010 2011 2012 2013

Baseline Process

Active

Quenching,

Advanced

Composition

Grading Control

Ultrafast Heating,

Predictive Design

Advanced TCO,

Enhanced

Transmission,

Light Trapping

Roadmap to 16% Module Efficiency


Product Portfolio Evolution

2013 2014

Standard modules for commercial

rooftops and utility applications

Standard Modules offered with System Level Solutions for commercial rooftops (including

mounting, power management)

*New standard component introduced to reduce balance of systems costs*

Standard Modules adapted for BIPV applications

(facades, sunshades, roof tiles) including BIPV

components with integrated power management

11% 12% 14% 16%

2011 2012

Efficiency

HelioVolt Confidential and Proprietary

Thank You!

For more information about HelioVolt, Visit us at www.heliovolt.com

http://www.heliovolt.com/