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NanoFlex Power Corporation
May 01, 2009

NanoFlex Power Corporation Signs Agreement Extending Sponsored Research Program with Dr. Stephen R. Forrest of the University of Michigan and Dr. Mark E. Thompson of the University of Southern California

Efforts Focus on Extending Lead in Organic Solar Cells

MEDFORD LAKES, New Jersey, May 1, 2009 – NanoFlex Power Corporation (“NFPC”), a leading developer of a sustainable, Organic Photovoltaic (OPVTM) technology, which will enable ultra‐low cost solar power generation and exciting new product possibilities, announced today that it signed an agreements with the University of Southern California (“USC”) extending its research partnership with USC and the University of Michigan (“Michigan”). Under the agreements, NFPC will provide funding for photonic energy conversion technologies developed under the guidance of Professors Mark E. Thompson of USC and Stephen R. Forrest of Michigan. Inventions derived from the research program will continue to be licensed exclusively to NFPC.

“We are pleased to be continuing our productive and innovative 15‐year partnership with Professor Thompson and Professor Forrest,” commented Aaron L. Wadell, Chief Operating Officer of NFPC.

NFPC’s OPVTM technology can be applied to virtually any surface using a room‐ temperature method akin to spray painting. Production methods of this sort are easily adaptable to batch, continuous and so called “roll‐to‐roll” manufacturing processes and hold the promise of dramatically reduced production costs. Rapid development and commercialization has already begun for related organic light‐emitting display (“OLED”) fabrication approaches.

Because of their inherent flexibility, organic semiconductors can be used in flexible applications. NFPC’s low‐temperature fabrication approach enables the use of inexpensive plastic substrate materials and the direct application of organic solar cells to an electronic device’s enclosure. NFPC’s OPVTMs can be used to create photovoltaic cells of different colors or cells that act as window tinting in building‐integrated photovoltaic applications.

About NanoFlex Power Corporation

NanoFlex Power Corporation (NFPC) is the world leader in developing sustainable molecular Organic Photovoltaic (OPVTM) technologies. NFPC is collaborating with world class organizations to transform the energy and photovoltaic markets. NFPC has research partnerships with the University of Southern California, the University of Michigan and Princeton University.

NFPC was founded in 1994 by entrepreneur Sherwin I. Seligsohn. Mr. Seligsohn has been the Chairman of the Board and Chief Executive Officer of the Company since its inception. Mr. Seligsohn is also the founder and Chairman of Universal Display Corporation, a public company (NASDAQ: PANL).

NanoFlex Power Corporation is located in Medford Lakes, NJ, minutes away from Princeton University.
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