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NanoFlex Power Corporation
August 01, 2008

NanoFlex Power Corporation Research Partners, Dr. Mark E. Thompson and Dr. Stephen R. Forrest, join Stanford University's Center for Advanced Molecular Photovoltaics Effort

Center's Goal is to Revolutionize Global Energy Landscape with Molecular Solar Cells

MEDFORD LAKES, New Jersey, August 1, 2008 – 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 its research partners, Dr. Mark E. Thompson and Dr. Stephen R. Forrest have been selected to participate in Stanford University’s (Stanford) Center for Advanced Molecular Photovoltaics (CAMP).

The CAMP center is funded by a $25 million grant from the King Abdullah University of Science and Technology or KAUST. CAMP will be directed by Michael McGehee, associate professor of materials science and engineering at Stanford. The deputy director is Peter Peumans, assistant professor of electrical engineering in the Integrated Circuits Laboratory at the Center for Integrated Systems, who is also affiliated with the Woods Institute for the Environment at Stanford. Dr. Peumans who graduated from Princeton University in 2004 is a co‐inventor on several NFPC patents. Both Dr. McGehee and Dr. Peumans are intensely involved in designing new types of solar cells at the nanoscale level.

Dr. Thompson is a CAMP management team member and is leading a research effort as part of CAMP. Dr. Forrest is a member of the External Advisory Board (EAB) and NFPC is an Industrial Affiliate of the program.

“We are pleased to be part of the CAMP program and the renowned team of researchers, management and advisors. NFPC’s over 15 year background in small molecule organic solar cells and foundation of insight and intellectual property is a great fit with the CAMP effort,” 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 the Center for Advanced Molecular Photovoltaics at Stanford University

CAMP, the Center for Advanced Molecular Photovoltaics at Stanford University, is a research center led by Profs. Michael McGehee, Peter Peumans and Alan Sellinger with the goal of revolutionizing the global energy landscape by developing the science and technology for stable, efficient molecular photovoltaic cells that can compete with fossil fuels in cost per kilowatt‐hour produced. While today’s best molecular solar cells have efficiencies up to 6.5% and last approximately 1 year in sunlight, our vision is to increase the efficiency to at least 15%, and make the cells stable for 10 years or more. Furthermore, developing manufacturing technologies and production of cells at very low‐cost is also a high priority.

To achieve these goals, CAMP has a renowned team of 16 principal investigators (PIs) from Stanford, UC Berkeley, USC, GeorgiaTech and EPFL (see second page for a brief team description). The Center Director is Prof. Michael McGehee (Stanford). The management team further consists of Executive Director Consulting Prof. Alan Sellinger (Stanford), Deputy Director Prof. Peter Peumans (Stanford), Prof. Reiner Dauskardt (Stanford), Prof. Mark Thompson (USC), Prof. Michael Grätzel (EPFL), and Prof. Jean‐Luc Brédas (Georgia Tech). An estimated 50 or more students and post‐ doctoral researchers will be engaged in the research activities at CAMP. CAMP is funded starting June 2008 by a 5‐year $25M grant from the King Abdullah University of Science and Technology (KAUST) Global Research Partnership program. Industrial Affiliates include: Applied Materials, Bosch, NFPC, Solvay, Southwall Technologies, SpectraWatt and Unidym.

CAMPʹs activities will span polymer, small molecular and dye‐sensitized molecular solar cells with research activities in molecular design through advanced quantum mechanical calculations, molecular synthesis, nanostructure engineering adn characterization, understanding and engineering carrier recombination, light management, transparent contacts, third generation cell concepts, and the engineering of durable molecular solar cells.

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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