Bedford, MA – March 13, 2013 – Today, solar innovator 1366 Technologies welcomed China expert and MIT Sloan School of Management Professor Yasheng Huang to its Board of Directors.  Huang will help to accelerate the Company’s market entry into China as it scales its operations and readies its Direct Wafer™ technology for the global stage.

“As one of the foremost authorities on emerging economies and a specialist in helping companies gain a foothold in China, Yasheng will help to raise our profile in an incredibly important market for the solar industry,” said Frank van Mierlo, CEO, 1366 Technologies. “His experience will be a crucial resource for us.”

Yasheng Huang is professor of political economy and international management and holds International Program Professorship in Chinese Economy and Business at MIT Sloan School of Management. At Sloan, Yasheng founded and runs China Lab and India Lab, which aim to help entrepreneurs in China and India improve their management.  In addition to his academic articles, Yasheng has authored seven books, including three in Chinese.  His most recent, “Capitalism and Chinese Characteristics,” chronicles three decades of economic reform in China. He has held or received prestigious fellowships such as National Fellowship at Stanford University and Social Science Research Council-MacArthur Fellowship. He is a member of MIT Martin Trust Entrepreneurship Center, a fellow at the Center for China in the World Economy at Tsinghua University, a fellow at William Davidson Institute at Michigan Business School, and a World Economic Forum Fellow.

“1366 and its Direct Wafer™ technology have great potential in China,” said Yasheng Huang. “I believe the company’s innovations represent a big leap forward in solar manufacturing. The ability to sell directly into the existing market with a ‘drop in’ product is a significant benefit. I’m looking forward to working with the leadership team to help them realize their vision.”

1366 recently celebrated the opening of its new, 25 MW wafer manufacturing facility in Bedford, Massachusetts. The 42,000 square foot factory, slated to employ 100 people, represents the final step in the path to commercialization of the company’s Direct Wafer™ technology.  Direct Wafer™ forms multicrystalline wafers directly from molten silicon instead of today’s multi-step, energy- and capital-intensive process.  Within the next 12-18 months, the company’s team of engineers and scientists will fine-tune the process to where it can be easily transferred and replicated in future facilities.

About 1366 Technologies

1366 Technologies aims to deliver solar at the cost of coal. The company combines breakthrough technology innovations with lean manufacturing processes to make a new class of silicon wafers, the basic building blocks of solar cells, at a fraction of today’s cost.  Developed by a veteran team of scientists, engineers and entrepreneurs, including photovoltaic industry expert  and former MIT professor Dr. Emanuel Sachs, the company’s novel approach breaks the historic efficiency and cost tradeoff of photovoltaics. 1366 Technologies is headquartered in Bedford, MA. For more information, please visit www.1366tech.com.

Contact:

Laureen Sanderson

(617) 694-7336

lsanderson@tieronepr.com

 

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