Solar Junction Corporation

SOLAR JUNCTION CLOSES $13.33 MILLION IN SERIES C FINANCING

Funding to support company’s efficiency roadmap, sampling activities and reliability testing of its high efficiency solar cells

SAN JOSE, Calif. — Solar Junction, a developer of high efficiency multi-junction solar cells for the concentrated photovoltaic (CPV) market, today announced the closing of its $13.33 million funding round. Solar Junction will use these funds to reach world class high-efficiencies for multi-junction solar cells and to move forward with customer sampling activities.

“The closing of our Series C during this difficult fund-raising climate showcases the strength of our technology and our roadmap. It is great to have New Enterprise Associates, Advanced Technology Ventures and Draper Fisher Jurvetson’s continued support of our innovative technology,” said Jim Weldon, Chief Executive Officer. “This funding will keep us moving forward towards reaching world class cell efficiencies. And we will increase our focus on customer sampling activities and in-house reliability testing.”

Leading global venture capital firm, New Enterprise Associates (NEA) led the C Round. This is NEA’s third investment with Solar Junction, as it continues to invest in energy technology companies and diversify its energy portfolio. Advanced Technology Ventures (ATV) and Draper Fisher Jurvetson (DFJ) also participated in this round.

The closing of the C Round follows the announcement last month by the U.S. Department of Energy and National Renewable Energy Lab stating that Solar Junction was a recipient of a $3 million PV Incubator subcontract. Negotiations are in progress for the subcontract.

About Solar Junction

Solar Juncion is a developer of high efficiency III-V multi-junction solar cells based on dilute nitride compounds. The company is committed to providing the industry’s highest efficiency solar cells to enable CPV to be a cost effective energy solution. Founded in 2007, Solar Junction is headquartered in San Jose, California. Current investors include New Enterprise Associates, Draper Fisher Jurvetson and Advanced Technology Ventures. For more information, please visit www.sj-solar.com

About NEA

New Enterprise Associates, Inc. (NEA) is a leading venture capital and growth equity firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $11 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company’s lifecycle, from seed stage through IPO. Since the firm’s founding in 1978, NEA’s experienced management team has invested in over 650 companies, of which more than 165 have gone public and more than 265 have been acquired. In the U.S., NEA has two offices in the Washington, D.C. metropolitan area and one in Menlo Park, California. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.

Advanced Technology Ventures

Advanced Technology Ventures (ATV) is a bi-coastal venture capital firm with more than $1.6 billion in capital under management. ATV supports entrepreneurial teams in several technology markets, including IT, healthcare and energy, helping to transform emerging growth companies into market leaders. For more information, visit www.atvcapital.com.

Draper Fisher Jurvetson

Draper Fisher Jurvetson ('DFJ') backs extraordinary entrepreneurs everywhere who set out to change the world. DFJ achieves its mission through its DFJ Global Network of Partner Funds. Together, DFJ and the Network manage over $6B and have made more than 600 investments on four continents. With a 25-year history of success across diverse sectors and market conditions, DFJ has led the way investing in emerging technologies, from the Internet and life sciences to clean energy and nanotechnology. For more information visit www.dfj.com.