Nanotechnology Now - Press Release: Solar Energy Initiatives, Inc. Announces Strategic Photovoltaic Collaboration with the Industrial Technologies Research Institute (ITRI) Taiwan

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ITRI has Significant Competencies in Nano Technologies, Dye Sensitized Solar Cell Development, Solar Battery and LED Technologies

Solar Energy Initiatives, Inc. Announces Strategic Photovoltaic Collaboration with the Industrial Technologies Research Institute (ITRI) Taiwan

Point Verda Beach, FL | Posted on December 21st, 2009

Solar Energy Initiatives, Inc. (OTCBB: SNRY) and the Industrial Technology Research Institute (ITRI) Taiwan announced a broad business and technical collaboration agreement to build, integrate, test and commercialize a series of new solar products and solutions.

Worldwide, the solar PV market is expected to reach $34 billion by 2013. The United States economic stimulus bill, signed into law in February 2009, is providing billions of dollars through the U.S. Department of Energy (DoE) for renewable energy investment in U.S. companies, including those engaged in solar energy development and manufacturing. ITRI is established as a clear leader in offering independent technology development services to the Solar Industry, operating state-of-the-art facilities in Hsinchu, Taiwan. In collaboration with Solar Energy Initiatives, ITRI will integrate the technologies into world class products in such solar solutions as LED Lighting, Silicon Solar Cell Products, Si Thin Film Solar Cell, Module Encapsulation, Dye-Sensitized Solar Cell and Printable CIGS.

"The collaboration agreement signals the intent of both companies to establish an accelerated growth platform for the industrialization of ITRI's patented solar technology into the North American Market," said, Mr. Robert Pimentel, Business Development Director of ITRI. "SNRY will be instrumental in the sales and distribution of our award winning patented technologies that will have the ability to generate significant revenues for SNRY. It is ITRI's mission to develop advanced solar photovoltaic technologies and to commercialize them in a timely manner and to enhance the competitiveness of Taiwan's solar industry."

"Our extensive strategic agreement with ITRI includes the building of a world-class Solar Energy Website, the development of a Solar Energy University ELearning Certification Platform and providing cutting-edge solar products and solutions in North America," commented, Mr. David Fann, CEO of Solar Energy Initiatives. "SNRY and ITRI will jointly pursue global Tender and RFQ projects together. Under this agreement ITRI will supply Engineering and Technology Support and SNRY will manage all sales and integration services. Our agreement with ITRI has the ability to significantly impact both our bottom and top line growth throughout the remainder of our 2010 fiscal year and beyond."

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About Solar Energy Initiatives, Inc.
Solar Energy Initiatives, Inc. is executing its "RENEW THE NATION" campaign, intended to promote job growth nationwide via an aggressive grass roots effort. The main focus of RENEW THE NATION will be working with companies in the construction industry and related trades affected by the economic downturn to re-train and re-deploy their workforce into solar dealers, allowing this important national asset to meet the needs of the Solar Energy industry, the fastest growing industry in the world. We are executing on a multi-pronged approach to achieve our plan. This includes: continuing development of one of the fastest growing dealer networks in the U.S. that sells and installs solar solutions to homeowners and commercial customers; solar education and technical training to the private and public sectors and placing solar systems on large commercial buildings and selling the energy output to the owner/occupant(s) through Solar Power Purchase Agreements (PPAs).

About the Industrial Technology Research Institute Taiwan

As of today more than 60% of the ITRI's 6,000 employees hold either a Master's degree or PhD in their respective field of studies: Communication and Optoelectronics, Precision Machinery and MEMS, Materials and Chemical Engineering, Biomedical Technology, Sustainable Development, and Nanotechnology. Our focus on these six major fields will lay down the foundation for innovative research in the future of technological industry, and hence, transform our domestic industry into global bedrock for technological innovation.

ITRI has spun off over 150 leading IT Companies including Acer, TSMC, UMD and Del Solar which is one of Taiwan's fastest growing Solar company of which ITRI still holds a 5% interest. The Mission of ITRI's Solar PV Research is to enhance competitiveness of Taiwan's Solar PV Industry and to help government promote solar PV applications in Taiwan. For more information please visit www.itri.org.tw

For more information, please click here

Contacts:
ITRI Contact:
Robert Pimentel

Solar Energy Contact:
Chris Camarra
212-398-3486

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