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Emerald Technology Ventures participates in USD 11 million follow-on financing for Xunlight


Zurich-Montreal, September 3, 2008

Emerald Technology Ventures participates in USD 11 million follow-on financing for thin-film solar company Xunlight Corporation.

Xunlight Corporation, a leader in the development of low-cost and flexible thin-film silicon solar modules, today announced it has received USD 11 million additional financing from institutional investors. The investment was led by Rabo Ventures, a division of Rabobank, a top 25 global financial institution based in the Netherlands. Existing investors Trident Capital and Emerald Technology Ventures also participated in the financing.

The proceeds of this investment will be used to fund expansion of manufacturing operations and for working capital requirements. The Company operates a 2 Megawatt roll-to-roll pilot production line and is building a 25 Megawatt roll-to-roll production line to manufacture flexible and lightweight photovoltaic products.

This investment accompanies a recently awarded $4.97 million grant from the State of Ohio’s Third Frontier Projects, which will be used to further improve the Company’s manufacturing technologies.

“We have a very strong relationship with Rabo Ventures and are pleased they have partnered with us as an investor in Xunlight”, said Markus Moor, Partner with Emerald Technology Ventures. “This additional financing will accelerate the build-out of Xunlight’s operations.”

“Xunlight is well positioned to become a global leader in the flexible thin-film solar market. Xunming Deng has brought together a strong, experienced management team and, in collaboration with the University of Toledo, led the development of a unique technology base for the company. We are excited to have the opportunity to make this investment and look forward to supporting the company with its growth ambitions” said Adam Anders of Rabo Ventures.

About Xunlight Corporation
Xunlight Corporation, a technology spin-off from the University of Toledo, engages in the development, manufacture, and marketing of photovoltaic modules that convert sunlight into electricity. The company develops thin-film silicon based photovoltaic products and manufacturing equipment for high-throughput production of flexible and lightweight photovoltaic modules at low cost. Xunlight has received over $40 million institutional investments during the past 16 months to build out its roll-to-roll production lines. The company has also received over $10 million R&D funding from the US Department of Energy, US Department of Commerce and Ohio Department of Development to develop its products and manufacturing process. Xunlight was featured in the October 8, 2007 issue of Newsweek magazine, a March 24, 2008 report of CNN News. The company is headquartered in a 122,000 sqft manufacturing facility in Toledo, Ohio.
www.xunlight.com

About Rabo Ventures
Rabo Ventures is part of the Rabobank Group, ranked as one of the top 25 global financial institutions and a leader in sustainability-oriented banking. Rabobank has been involved in the financing of large sustainable projects such as bio-fuel plants and wind parks in different European countries for the last several years. In line with the greater ambition of Rabobank to provide services for the entire industry, the bank has launched Rabo Ventures to help finance innovations in clean technology. This venture capital fund focuses on fast growing cleantech companies which encompass a broad range of technologies dealing with renewable energy generation and environmental issues such as clean water and clean air.
www.raboventures.com

About Trident Capital
Trident Capital is a leading venture capital and private equity firm with over $1.6 billion of capital under management, including $400 million raised in its most recent fund, Trident Capital Fund VI. Trident focuses on investments in the business services, information services, software, Internet and Cleantech sectors across a variety of industries. Within its sector focus, Trident invests across multiple stages, including traditional venture capital investing as well as investments in micro-cap public companies, buyouts and consolidation platforms. The firm has made over 120 investments since inception. Trident has investment offices in Palo Alto, Calif. and Westport, Conn.
www.tridentcap.com

About Emerald Technology Ventures
Emerald Technology Ventures is a global leader in cleantech venture capital. Founded in 2000, Emerald is a pioneer in this rapidly emerging sector and is focused on innovative technologies in energy, advanced materials and water. From offices in Zurich, Switzerland and Montreal, Canada, Emerald manages three venture capital funds and two venture capital portfolio mandates totalling over EUR 300 million (USD 440 million). Emerald is currently investing out of its latest fund and is looking for energetic and passionate entrepreneurs with the vision to build world-class clean technology companies.
www.emerald-ventures.com


For more information please contact:

Emerald Technology Ventures
Hans Dellenbach
Chief Financial Officer
Seefeldstrasse 215
8008 Zurich
Switzerland
Tel +41 44 269 61 23
Fax +41 44 269 61 01
hans.dellenbach@emerald-ventures.com

Emerald Technology Ventures
Scott MacDonald
Partner
300, rue du Saint-Sacrement, Suite 425
Montreal, QC H2Y 1X4
Canada
Tel +1 514 789 6458
Fax +1 514 286 9817
scott.macdonald@emerald-ventures.com


Publisher Contact Information:

Emerald Technology Ventures (formerly SAM Private Equity)
+41 44 269 61 23
hans.dellenbach@emerald-ventures.com

Company profile of Emerald Technology Ventures (formerly SAM Private Equity)
Past press releases of Emerald Technology Ventures (formerly SAM Private Equity).

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