Evergreen Solar Inc. awarded $3 million contract by National Renewable Energy Laboratory

MARLBORO, Mass., Oct. 2, 2002 — Evergreen Solar Inc. announced it has been awarded a cost-shared letter subcontract by the National Renewable Energy Laboratory (NREL) to complete a research and development program under the Photovoltaic Manufacturing Technology (PVMaT) program.

The three-year cost shared agreement, which renews annually, will help continue the development of Evergreen’s String Ribbon manufacturing technology into an advanced process that is virtually continuous, thereby reducing manufacturing costs. In addition, the program will further Evergreen’s development of its innovative back contact solar cell and its polymer frameless module technology. Over the expected three years of the contract, NREL will fund $3.0 million of the $6.0 million project and Evergreen Solar will fund the remaining $3.0 million.

“This contract will support some of our core R&D and manufacturing initiatives over the next three years. We are particularly excited about the potential of these programs to significantly reduce our manufacturing costs while we develop an innovative product platform,” commented Mark Farber, President and CEO of Evergreen Solar.

“This contract will support our advanced and proprietary cell and module fabrication technologies,” continued Farber. “We believe the polymer frameless module technology that we will be developing in this contract will have particular advantages in the rapidly growing building integrated solar market.”

About the Photovoltaic Manufacturing Technology (PVMaT) Program

The PVMaT program is designed to strengthen the role of the U.S. industry in the world PV market through partnerships that lead to manufacturing and product improvements. A research and development partnership between the U.S. Department of Energy and members of the U.S. PV industry, PVMaT aims to help U.S. industry improve PV manufacturing processes and equipment; accelerate manufacturing cost reductions for PV modules, balance-of-systems components, and integrated systems; increase commercial product performance and reliability; and enhance the investment opportunities for substantially scaling up U.S. manufacturing capacity and increasing U.S. market share. Industry participants are selected through competitive procurements.

About Evergreen Solar, Inc.

Evergreen Solar, Inc. (www.evergreensolar.com) develops, manufactures, and markets solar power products utilizing the company’s patented solar power technologies. The products provide reliable and environmentally clean electric power in global markets. Solar power applications include wireless power for remote homes, water pumping, lighting, and rural electrification, as well as complete power systems for electric utility customers choosing to generate their own environmentally benign power.

Evergreen Solar’s String Ribbon® technology produces approximately twice as many solar cells per pound of silicon compared to traditional methods. This contributes to making Evergreen’s overall manufacturing technology among the most environmentally friendly processes in the industry. Evergreen Solar is one of the only fully integrated, independent PV manufacturers in the U.S – producing solar wafers, cells and panels.

Source: Evergreen Solar, Inc.

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