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July 31st, 2008
Evolution Solar Acquires China-Based R&D Corporation

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PR – Evolution Solar Corp.  has acquired Synergy Design and
Development Company Limited, a Hong Kong R&D and Procurement Company
based in Shanghai, China. Evolution Solar most recently announced its
plans to develop alternative energy technologies using thin film solar
panels.

"The acquisition of Synergy should give Evolution Solar an edge over the
competition in sourcing materials and the manufacturing process of
photovoltaic technology," stated Robert Kaapke, CEO of Evolution Solar.
"The historical growth within the solar industry is creating a huge
demand on suppliers and manufacturers in the market."

Evolution Solar is planning to establish a footprint with the
manufacturing capabilities in the Asian markets that can assist in the
reduction in the manufacturing and procurement of materials in the heavy
technology manufacturing province of Shanghai, China.

China, which passed a landmark renewable energy law in January 2007, has
pledged to spend some $200 billion over the next 15 years on renewable
energy. The goal: Achieve 20 percent total energy consumption from green
fuel sources.

China’s interest in renewables has translated into a rapidly expanding
base of at least a dozen publicly held domestic solar energy and wind
energy concerns, among them: Solarfun Power Holdings (NASDAQ:SOLF) and
JA Solar Holdings (NASDAQ:JASO).

Some think the U.S. could be generating 10% of its electricity from the
sun within 10-15 years, and Scientific American published a scheme last
year for drawing almost 70% of our power using solar by 2050. Merrill
Lynch’s Mark Heller noted that solar startups raised more money in
2007-8 than Internet stocks did in their 1998 heyday. With companies
such as First Solar (NASDAQ:FSLR) crushing expectations and posting a
246% increase in sales, the future for solar companies certainly looks
bright.

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