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Innovalight Signs Commercial Agreement With Solarfun

SUNNYVALE, Calif., Oct. 19 /PRNewswire/ -- Innovalight, Inc., a privately-held company that manufactures a proprietary nanotechnology-based silicon ink and licenses a proprietary platform process to solar cell manufacturing companies, announced today a three-year commercial agreement with Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF). Solarfun is a leading integrated global manufacturer of silicon ingots, wafers, solar cells and solar panels.

Innovalight manufactures a proprietary nanotechnology-based silicon ink and licenses a platform process which allows an upgrade to solar cell manufacturing production lines to boost performance of solar cells and lower production costs.

Solarfun recently announced plans to convert solar cell manufacturing capacity to higher efficiency products through the introduction of selective emitter technology. Solarfun will license a solar cell process and purchase silicon ink from Innovalight for the production of high efficiency solar cells on mono-crystalline silicon substrates.

"We are delighted with this partnership with Innovalight," said Dr. Peter Xie, president and chief executive officer of Solarfun. "We look forward to a long term relationship with Innovalight to help us cost-efficiently improve the performance of our products."

"Solarfun is a very important customer for Innovalight," said Conrad Burke, president and chief executive officer of Innovalight. "Solarfun is one of the largest and most successful vertically integrated solar producers in the world today," he added.

About Solarfun

Solarfun Power Holdings Ltd. (NASDAQ: SOLF) is a leading manufacturer of solar PV cells and modules in China, focusing on delivering high quality and reliable products at competitive prices. Solarfun produces its monocrystaline and multicrystaline products at its internationally certified, vertically-integrated manufacturing facilities. Solarfun partners with third-party distributors, OEM manufacturers, and system integrators to sell its modules into large-scale utility, commercial and governmental, and residential/small commercial markets. Solarfun maintains a strong global presence with local staff throughout Europe, North America, and Asia. Solarfun embraces environmental responsibility and sustainability by taking an active role in the photovoltaic cycle voluntary recycling program.

For more information, visit: www.solarfun-power.com

About Innovalight

Innovalight is based in Sunnyvale, California. The company manufactures silicon ink and licenses a proprietary process technology to solar cell manufacturing companies. Innovalight is venture capital backed and has received additional development funds from the U.S. Dept. of Energy. For more information, visit www.innovalight.com

SOURCE Innovalight, Inc.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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