Signet Solar appoints three board members to support global expansion

Company Brief

New Delhi, March 12, 2008

Signet Solar, a manufacturer of silicon thin film photovoltaic (PV) modules, today announced the appointment of Rich Beyer, Rajesh Jain and Ajit Manocha to its Board of Directors. These industry veterans will help guide the company as it executes on its global expansion plans and pursues its goal of grid parity pricing.

The new members of the Board of Directors bring expertise that complements Signet Solar’s management team depth in semiconductor technology, manufacturing and marketing. A brief outline of their experience follows:

Rich Beyer is assuming the role of Chairman & CEO of Freescale Semiconductor, a global leader in the design and manufacture of embedded semiconductors. He is transitioning currently from his role as CEO of Intersil Corporation. He joined Intersil in 2002 when it acquired Elantec Semiconductor, Inc., where he was President, Chief Executive Officer and Director.

Rajesh Jain is currently the Chairman & Managing Director of EMCO. Based in Mumbai, India, EMCO is a publicly traded power infrastructure company. Mr. Jain also is active in Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI) forums.

Ajit Manocha is currently Executive Vice President of Worldwide Operations and a member of the executive management board at Spansion, a leading Flash memory solutions provider. A seasoned semiconductor expert, Ajit has held several senior executive and management positions at NXP, Philips Semiconductors, AT&T Microelectronics and AT&T Bell Laboratories. Ajit has been advisor to Signet Solar since its inception and will continue to serve on its Board of Directors.

Global Market Leaders

The expanded Board of Directors enhances the business experience of the Signet Solar team. The company has pulled together U.S. technology, German engineering, and global manufacturing on its path to commercialize second-generation thin film solar photovoltaic modules and to serve global energy markets.

Through partnerships with proven equipment suppliers, solar PV solution providers and energy producers, Signet is positioned to be the leader in thin-film photovoltaic module production and delivery. The applications of Signet Solar products include: solar farms, large commercial installations, building integrated photovoltaics (BIPV), and remote habitation.

For further information, please contact:

Text 100

Kunal Takalkar

Mob: +09810073217

e-mail: Kunal.takalkar@text100.co.in