Solar Junction and IQE to Develop Satellite Solar Energy Cells

- Contract Negotiation Underway Between Strategic Partners and European Space Agency for High-Efficiency Satellite Solar Energy Cells

SAN JOSE, California, April 22, 2013 /PRNewswire/ -- Silicon Valley-based Solar Junction, a developer of high-efficiency multi-junction solar energy cells for the concentrated photovoltaic (CPV) market, is in contract negotiation along with IQE - the leading global supplier of semiconductor wafers - for the development of next-generation satellite solar cells for the European Space Agency.

(Logo: http://photos.prnewswire.com/prnh/20120213/SF52000LOGO)

"Solar Junction and IQE have been working closely for the past year as strategic manufacturing partners of the world's most efficient multi-junction solar cells. Our dilute nitride technology and high-efficiency roadmap is a proven and sustainable pathway for present and future space and terrestrial applications. Winning this contract proves that we're on-track. We're proud to be the best solution for the European Space Agency," stated Jim Weldon, CEO of Solar Junction.

Solar Junction surpassed its own world record in October 2012, achieving 44% efficiency at a concentration of 942 suns. This record continues to demonstrate the value of its proprietary Adjustable Spectrum Lattice Matched (A-SLAM™) architecture. A-SLAM™ provides material bandgap tunability to maximize the absorbed sunlight within CPV modules, thereby increasing the efficiency and energy harvested. Additionally, A-SLAM™ maintains the lattice-matched paradigm, which has been the foundation of semiconductor and multi-junction solar cell reliability for decades.

About Solar Junction

Founded in 2007, Solar Junction is a commercial-ready manufacturer of the industry's highest-efficiency solar cells and receivers for CPV systems, It's the only company in the solar manufacturing industry to offer a complete design, test, develop, deploy, and service platform, which includes testing, production, and a complete software suite - all manufactured at their headquarters in San Jose, CA. Investors include New Enterprise Associates, Draper Fisher Jurvetson, Advanced Technology Ventures, and IQE. By partnering with IQE in February 2012, Solar Junction significantly scaled up manufacturing.

For more information, please visit http://www.sj-solar.com.