Meet HelioVolt, manufacturer of high performing low cost CIGS thin film solar modules based in Austin, TX

1. Introduction to HelioVolt –
Manufacturer of High
Efficiency Thin Film Modules
HelioVolt Confidential
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2. Company Highlights
$0.52 COGS / Watt Disruptive Vacuum
and $0.36 CapEx / Watt and Liquid CIGS
at 1 GW Scale Technology
Demonstrated 12.3%
Large, Proven Market
Production Module with
with Long Term Secular
average efficiencies
Growth
exceeding 11.7%
Extensive IP Portfolio
Unique NREL
And Technical
Relationship
Expertise
HelioVolt Company
Information 1

3. 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
HelioVolt Company
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4. HelioVolt Corporate History
HelioVolt and NREL win
R&D 100 Award
Time Magazine’s “Best
Inventions of 2006”
Printed Electronics
Industry Award 1st production run
HelioVolt Wall Street Journal August 2009
founded Technology Award
12% cell 12% prototype module
12.3% production
efficiency and 14% cell efficiency
module efficiency
FASST® Process wins achieved achieved
achieved
Nano50 Award
2001 2003 2005 2006 2007 2008 2009 2010 2011
Series A Series B Industry veteran Jim
funding funding Flanary joins as CEO
Commercial agreements
NREL CRADA Exclusive NREL Opened first factory in
signed for 3 years of
established IP Agreement Austin, Texas
production
HelioVolt Company
Information 3

5. Company Introduction –
Experienced Management Team
BJ Stanbery, Chairman & Chief Technology Officer Jim Flanary, President & CEO
17 years at Boeing – responsible for manufacturing Extensive thin-film solar experience - former COO of
scale-up, product cost-driven project management, First Solar and former COO of HelioSphera
space and terrestrial solar product development. (micromorph-si module manufacturer based in Greece).
Holds 22 patents for thin-film PV technology. Division President and General Manager at ITT Night
Vision – leader in military and commercial products.
Iga Hallberg, VP Business Development 30+ years in early and late-stage private and public
companies.
Held multiple international marketing and business
development roles at 3M. Former Director of Steve Darnell, VP Finance
Business Development and General Manager for
nanoparticle inks and coatings and equipment 20 years experience in financial management of
solutions at NovaCentrix. technology companies. Factory start-up experience
at Compaq and Seagate.
John Prater, Director of Supply Chain
Key Investors
Former Strategic Sourcing Executive at Oerlikon
Solar and Applied Materials, supporting
manufacturing, spares and thin film solar sourcing
teams.
HelioVolt Company
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6. 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
HelioVolt Company
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7. HelioVolt Module Production Process
Module Out
Glass FASST® CIGS Module Final Assembly
Preparation Process Formation & Test
Glass In
HelioVolt Company
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8. Our Process vs. Alternatives
Our Process – Monolithic Integration
Glass In Module Out
Monolithic integration:
Glass FASST® CIGS Module Final Assembly •Better long-term product reliability
Preparation Process Formation & Test
•Lower COGS
Competitors’ CIGS Cell-Based Processes
Substrate In Module Out
Substrate CIGS Contact & Grid Final Assembly
Cell Cut & Sort Cell Stringing
Preparation Process Formation & Test
Silicon Process
Polysilicon Ingot Wafer Solar Cell Solar Module
Source: Wall Street research.
HelioVolt Company
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9. Competitive Technology Advantage
Glass In • Disruptive vacuum and liquid CIGS technology platform
– Advanced liquid precursor technology enables high efficiency and low cost
strategy
• FASST® CIGS process advantages
Glass – Two-stage process provides maximum flexibility to optimize precursor
Preparation deposition method and composition of each layer: higher efficiency
FASST® CIGS
Process
– Most rapid synthesis of CIGS from precursors of any method:
reduces capital costs
Module
Formation – Demonstrated state of the art crystalline quality: higher efficiency
Final Assembly
– Unique, rapid, flexible optimization of CIGS surface quality: higher efficiency
& Test
• 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
Module Out
supports product lifetime beyond standard 25 year warranty:
reduces cost of electricity (¢/kWh)
HelioVolt Company
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10. 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
HelioVolt Company
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11. 12.3% HelioVolt Champion Module
HelioVolt Company
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12. Roadmap to 16% Module Efficiency
18%
12%
Advanced TCO,
Enhanced
Transmission,
Ultrafast Heating, Light Trapping
Active Predictive Design
Quenching,
6% Advanced
Baseline Process Composition
Grading Control
0%
2010 2011 2012 2013
• 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%
HelioVolt Company
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13. Product Portfolio Evolution
2011 2012 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
Efficiency 11% 12% 14% 16%
HelioVolt Company
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14. Thank You!
For more information about HelioVolt,
Visit us at www.heliovolt.com
HelioVolt Confidential
and Proprietary