Bechtel Announces Inaugural Winner of the National Clean Energy Venture Competition

Konarka Technologies Inc. Honored for Photovoltaic Technology

ALBANY, New York — October 31, 2002 — A small company developing advanced technology in solar power has won the first National Clean Energy Venture Competition at the 15th NREL Industry Growth Forum.

Konarka Technologies, Inc., based in Lowell, Massachusetts, beat out 45 other competitors to take the top prize of $7,000 cash plus incubation services valued at more than $3,000. Winners were announced Wednesday by Bechtel Corporation, founding sponsor of the competition.

Konarka is commercializing polymer-based photovoltaic cells that promise to bring new benefits because of their flexibility and lightweight material—they can be manufactured cheaply in large sheets that can be cut in any size. The company is targeting markets ranging from portable electronics to distributed power and rural electrification.

“It’s an honor to be the first company to receive this award from Bechtel and be selected by such a distinguished panel of investors,” said Konarka Chief Operating Officer Paul Wormser. “This shows that Konarka has a compelling value proposition for investors—the plan, the technology, and the team to make it happen.”

Participants in the competition were selected from hundreds of applicants to present their business plans to energy executives and other potential investors. Outstanding Presentation Awards of $1,000 each were given to Starfire Systems, The Wind Turbine Company, and HelioVolt Corporation

Starfire Systems, based in Malta, New York, produces and develops polymers for the manufacture of high-temperature, high-performance silicon carbide ceramics. Starfire materials have been used in NASA manned spacecraft and aircraft brake rotors and is being developed for energy, emissions control applications, and semiconductor products.

“Our technology is especially exciting and promising because of its versatility and far-reaching potential benefits to a number of industries important to the U.S. economy and our environment, including energy, pollution control, transportation, aerospace, and national security,” said Richard Saburro, Starfire’s chief executive officer.

The Wind Turbine Company, of Bell, Washington, developed new, cost-efficient wind turbine technology under contracts from the U.S. Department of Energy and the California Energy Commission. WTC plans to demonstrate its new turbine in a 15-to-20 megawatt wind project next year.

HelioVolt Corporation is an Austin, Texas-based startup developing and commercializing a process for manufacturing thin-film solar power modules based on proven semiconductor technology. HelioVolt’s proprietary FLASH™ process dramatically reduces the time required to make highly efficient thin film solar power modules.

Bechtel provided $10,000 to launch this annual award in partnership with the National Renewable Energy laboratory (NREL), the Albany NanoTech Center, and Rensselaer Incubator Program.

“Bechtel developed this competition to promote the success of clean-energy entrepreneurs and bring more technology options into the mainstream energy market,” said Linda Trocki, principal vice president and manager of Bechtel’s technology development and R&D functions. “We’re excited about this competition and hope to attract more partners to expand the award next year.“

Headquartered in San Francisco, Bechtel is a global engineering, construction, development, and management organization, with 50,000 employees worldwide. Bechtel National, Inc., the company’s government services arm, is a member of the consortium that manages and operates NREL. The team is lead by the Midwest Research Institute of Kansas City, Missouri, and also includes the Battelle Memorial Institute of Columbus, Ohio.

Located in Golden, Colorado, NREL is a premier laboratory for renewable energy research. Its mission is to lead the nation toward a sustainable energy future by developing and employing renewable energy technologies and by improving energy efficiency.

Contact Information for the winning Companies

Konarka Technologies, Inc. Lowell, Massachusetts 978-569-1407 .(JavaScript must be enabled to view this email address)

The Wind Turbine Company Larry Miles, President, Co-founder Bellevue, WA 425-437-1470 .(JavaScript must be enabled to view this email address)

Starfire Systems, Inc. Richard Saburro, President and Chief Executive Officer, Watervliet, NY 518-899-9336 .(JavaScript must be enabled to view this email address)

HelioVolt Corporation B.J. Stanberry, President and CEO Austin, Texas 512-925-1810 .(JavaScript must be enabled to view this email address)