Nanosolar and Conergy sign cooperation agreement

"Delivering the next level of innovation in solar electricity requires product design work that takes a systems-wide perspective. We are excited about working with Conergy and integrating experience gained with more than 30,000 PV system installations worldwide," said Martin Roscheisen, CEO of Nanosolar Inc.

Cameron Moore, regional Head of Conergy Group in North America commented on the agreement: "We are looking forward to a successful partnership with Nanosolar. With every tenth solar system installed worldwide and an innovative product portfolio, Conergy has established itself as major supplier in the growing photovoltaic market. Conergy's extensive engineering and system competence matches perfectly with Nanosolar's best-in-class technology".

The U.S. ranks among the solar markets with the world's largest potential for growth. Presently, for example, there are incentives for the installation of photovoltaics in over 20 states. With a newly installed total power of around 105 megawatts in 2005, the U.S. market constitutes the third largest market for photovoltaics. Around 75 percent of these systems have been installed in California. According to a large number of studies, the U.S. photovoltaics market will grow to a annual installed capacity of between 300-400 MWp in 2010. Through it's partnership with Nanosolar, Conergy intends to substantially expand its North American market share.

About Conergy

With an expected revenue of more than 800 million euros (1 billion US$) in 2006 and 1,300 employees, Conergy is the largest solar company in Europe and a leading international supplier in other fast growing fields of renewables such as wind and bioenergy. The company is pursuing a customer-focused global growth strategy, which is aimed at providing every energy user worldwide with the best possible renewable energy technology to meet consumer's needs. Conergy already has branches on five continents and an experienced international management team with Regional Heads in place to further expand into North and South America, the Mediterranean, Asia and Australia.

The Conergy Group has a significant and growing presence in the U.S., with over 50 employees in close proximity to customers in 5 states. The company's brands cover the full renewable energy value chain: Conergy, Inc., based in Santa Fe, New Mexico is a leading distributor of solar energy products. SunTechnics Energy Systems, Inc., based in Sacramento, California focuses on the sales and installation of renewable energy systems for end customers. voltwerk LLC, based in New York, New York develops and finances large scale solar, wind and bioenergy projects. With its strong brands and entrepreneurial spirit, Conergy is poised to become a leading player in the fast growing renewable energy sector in the U.S.

About Nanosolar

Nanosolar is a global leader in solar power innovation. Nanosolar's solar electricity panels deliver unparalleled cost efficiency, enabling customers to use green power without paying more. With its proprietary nanoparticle ink and fast roll-printing technology, Nanosolar owns the processes and designs to produce the world's most cost-efficient solar cells and make them available in many versatile product forms. The company's headquarters are in Palo Alto, California, with European operations based in Berlin, Germany. More information on Nanosolar is available on the Internet at www.nanosolar.com.

For further information please contact:
Conergy Group
Cameron Moore
Regional Head North America
660 J Street, Suite 270
Sacramento, CA 95814
Phone: +1(916) 554-3026
E-mail: c.moore@conergy.us
www.conergy.com