Evolution Solar Corp. Announces the Evolution 300: 33% More Power! 1/3 Cost Savings!

November 18, 2008 9:00 AM EST

TEMPE, Ariz.--(BUSINESS WIRE)-- Evolution Solar Corp. (Pink Sheets: EVSO) will begin to supply its new 300 watt panel in the first quarter of 2009. The Evolution 300 is a 300 watt solar panel that was designed to provide 33% more power on the same real estate as current 200 watt panels. "The cost savings with our new panel is significant with an average savings of 1/3 of the cost for inverters, framing, tracking, and installation," stated Michael Franklin, President of Asian Operations for Evolution Solar Corp. "We expect the pricing of the new 300 watt panel to be comparable to the current 200 watt technology," Mr. Franklin added.

Shares of Chinese solar companies Trina Solar Ltd. (NYSE: TSL), Canadian Solar Inc. (NASDAQ: CSIQ), JA Solar (NASDAQ: JASO), Suntech Power Holdings Co. Ltd. (NYSE: STP), and LDK Solar Co. Ltd. (NYSE: LDK) are all currently at less than 4 times 2009 earnings estimates, compared with multiples of 9.5 and 17 for US firms SunPower and First Solar. Kevin Landis, manager of Firsthand Alternative Energy Fund, suggested yesterday that "You have the luxury of getting a good price on just about any company you care to buy," and added that there is a bit of a bias toward quality companies or companies that are a little more solid.

About Evolution Solar Corporation

Evolution Solar Corporation (OTC: EVSO) commercializes leading edge alternative solar energy technologies and related photovoltaic technologies, equipment and next generation appliances. Evolution Solar is an emerging industry leader capitalizing on its understanding of solar technology and supporting the development of alternative energy plans for large corporations and government organizations. Evolution Solar is also an expert consultant agency to organizations in their strategic and procurement plans for alternative energy contracts with public utilities. For more information please visit our homepage at: http://www.evolutionsolar.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

    Source: Evolution Solar Corp.

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