Lexington, MA – March 1, 2010 – 1366 Technologies, a silicon photovoltaics (PV) company, today announced it has strengthened its Board of Directors with the addition of Reidar Langmo, CEO of Novus Energy Partners (Novus) and co-founder of Renewable Energy Corporation (REC). 1366 has expanded its core team by 50 percent over the past nine months, and guidance from key board members such as Langmo will help the company bring its disruptive silicon PV technologies to market more quickly.

“1366 has an impressive team and high-impact technologies that could help jumpstart solar manufacturing in the US,” said Langmo. “I look forward to working with 1366 as the company grows and rapidly commercializes its new technologies.”

Reidar Langmo has over a decade of clean energy expertise and currently serves as CEO of Novus Energy Partners, a transatlantic venture capital firm with offices in Norway and Virginia. Prior to Novus, he co-founded REC, one of the world’s largest producers of polysilicon and wafers for solar applications. Langmo is based in Oslo, Norway, and his collaboration with 1366 offers significant global support and perspective to a fast-growing US energy tech company.

“As Co-founder of one of the world’s leading solar companies and a clean tech veteran with the most successful clean energy IPO to date, Reidar brings significant industry insight and experience to our board,” said Frank van Mierlo, president, 1366 Technologies. “We are honored to have Reidar join us and value his belief in the work we’re doing.”

1366 recently closed a $5.15 million internal round of funding with returning investors Polaris Venture Partners and North Bridge Venture Partners. The company was also recently awarded a $4 million contract from U.S. Department of Energy’s ARPA-E program, the only award given in solar photovoltaics. With this financial support the company has seen a fifty percent increase in employees in the last nine months. 1366 also plans to hire up to five additional engineers in the next six months to aggressively commercialize its Self-Aligned Cell (SAC) and Direct Wafer technologies for silicon photovoltaics.

About 1366 Technologies
1366 Technologies’ eliminates the cost and production challenges that have hampered solar power’s ability to replace fossil fuels. The company combines breakthrough innovations in silicon cell architecture with lean manufacturing processes to make the world’s most cost effective and commercially viable high efficiency solar cells. Developed by a veteran team of scientists, engineers and entrepreneurs, including MIT professor and photovoltaic industry expert Dr. Emanuel Sachs, the company’s novel approach breaks the historic efficiency and cost tradeoff of photovoltaics. 1366 Technologies is headquartered in Lexington, MA.

Contact:
Craig Lund
1366 Technologies
Director of Business Development
(781) 861-1611 x204
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Laureen McGowan Sanderson
Greenough Communications
(617) 275-6515
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