Our Vision A PV System People Everywhere Can Afford Will Change the World! Crystalline silicon...

Our VisionA PV System People Everywhere Can Afford

Will Change the World!

Crystalline silicon (c-Si) solar cells are the Model T. We are the Mustang, the sports cars…

99% of PVs in market are based on planar p-n junction. We will change it to <50%.

PV State of the Art

c-Si: Energy intensive processes Low prices due to massive production expansion Not competitive without incentives (don’t forget that)

Planar p-n junction: c-Si, CdTe, CIGS Dominates market (99%) Stringent requirements: large crystals (mono, poly) Technically difficult Theoretically not the most efficient way

Our Differentiations

Nano-architecture replaces crystalline absorber 3D p-n BHJ replaces 2D planar p-n junction Thin foil replaces wafer, glass substrates Low temperature grown nanocrystalline films Enable truly low cost processing in massive scale Lead to lightweight, flexible, tough, low cost, high

efficiency solar cells

All Because of a New Discovery

All inorganic, nanostructured p-n BHJ leads to: Spatial separation of electrons and holes Minimum recombination loss High performances as good as large crystals

Market Opportunity

There is no large scale production of flexible PV We will make a PV system that everybody like Simple, easy, safe, reliable to install and use Bankers will jump in; you will own the system. Put it on roof, tent, or architecture in backyard

Prototypes and Processes

cell

module

R2Requipment

processflowchart

monolithic interconnectionand encapsulation

BIPV, Solar Roof: Low profile, no frames Esthetically pleasant

Commercial Buildings, Utilities: Lightweight flexible panels

supported by flexible fences It can be deployed

anywhere!

Easily Deployable in All Markets

Revenue Model

• Vertical integration, control the whole value chain• Profitable solar electricity generation ~$0.30/W module cost, ~30% profit margin < $1.5/W installed PV system cost, ~50% margin 3.1¢/kWh electricity cost

Component depreciation materials labor Utilities& OH totalCost, $/W 0.08 0.16 0.02 0.07 0.33

Projected module cost

Growth & Marketing Strategy

Rapidly scale up to GWs Develop solar power projects around the worldSell directly to corporations and commercial marketsPartner with roofing company for solar shinglesPromote BIPV applicationsShowcase projects and performances

Yan Li, founder 15 years in thin film solar cell research, searching for low cost solutionsPredicted and discovered the nanomaterial systemHands-on expertise and excusive insights in materials and devicesBuilt a first of the kind R2R CIS electrodeposition pilot line

Molly Li, cofounderExperienced in operation, procurement, quality assurance, and customer relationships

Team

Financial

Projection for first plant (75 MW/y)Year 1* 2 3 4 5

Sales $52,500,000 $51,450,000 $50,421,000 $49,412,580 $48,424,328

Variable cost $11,685,000 $11,685,000 $11,685,000 $11,685,000 $11,685,000 Fixed cost $6,085,250 $6,085,250 $6,085,250 $6,085,250 $6,085,250 Depreciation $8,642,592 $14,811,552 $10,577,952 $7,553,952 $5,400,864 Total cost $26,412,842 $32,581,802 $28,348,202 $25,324,202 $23,171,114 Gross profit $26,087,158 $18,868,198 $22,072,798 $24,088,378 $25,253,214 Tax $9,130,505 $6,603,869 $7,725,479.30 $8,430,932 $8,838,625 Net profit $16,956,652 $12,264,328 $14,347,318 $15,657,445 $16,414,589Margin % 49.69 36.67 43.78 48.75 52.15 Cost /W $0.35 $0.43 $0.38 $0.34 $0.31

*4th year of startup. 300 MW/y plant will start in 5th year, then more.

Competition

We have a perfect combination of: low cost, high efficiency, and form factor Mature, solution based processes Massive production scale Our low cost will be hard to beat

Current flexible PV panels:CIGS: expensive, limited production Dow Solar/NuvoSun, Hanergy/MiaSole, Flisoma-Si: low efficiency, phasing out of market Hanergy

p-n BHJ Applications Besides Solar Cells:a Platform for Optoelectronics

Photodetectors, sensors, LEDs Hardware for internet of things Smart homes, smart cities Maybe a lot more

Investment

Series* Year Amount Equity Useseed 1st $200k 15% prototype, process, equipment

development, founder salaries

A 2nd $10M 30% R2R equipment scale up, engineering, 3 MW pilot line production, staffing

B 4th $80M 20% 75 MW production line, operationC 5th $250M 20% 300 MW production line, operation

IPO 6th -- -- multiple 500 MW production lines

*Current developments focus on compatible spray-deposition processes for top contact and transparent conducting layers.