EVSO Evolution Solar Corporation (CE)

Evolution Solar (PinkSheets:EVSO). US Department of Energy Secretary Steven Chu announced on Friday the selections of projects for investment of up to $62 million over five years to research, develop, and demonstrate Concentrating Solar Power (CSP) systems capable of providing low-cost electrical power. This funding will support improvements in CSP systems, components, and thermal energy storage to accelerate the market-readiness of this renewable energy technology. Accelerating breakthroughs in renewable energy technologies supports the Administration’s strategy of diversifying the U.S. energy portfolio to increase our energy independence while fostering a fast-growing clean-energy economy.

“Developing low-cost, renewable energy generation is crucial to meeting our nation’s increasing demands for electricity,” said Secretary Chu. “By investing in the development of low-cost solar technologies we can create new jobs and pave the way towards a clean-energy future.”

CSP technologies concentrate the sun's energy and capture that energy as heat, which then drives an engine or turbine to produce electrical power. CSP plants can include low-cost energy storage, allowing them to provide electricity even when the sun is not shining. Boosting these technologies today will generate the clean-technology careers of tomorrow and will help expand the market for utility-scale solar energy. The projects announced today will seek to improve component and system designs to extend operation to an average of about 18 hours per day, a level of production that would make it possible for these plants to displace traditional coal-burning power plants.

“Secretary Chu is demonstrating superior leadership in the promotion of solar technology development,” stated Robert Hines, President of Evolution Solar. “This Department of Energy initiative shows his determination to assist the solar energy industry.”

Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be located at the University’s Houston Campus. The project should help Evolution Solar acquire new projects in a sector that is growing to compete in the energy industry, which contains DTE Energy (NYSE:DTE), Duncan Energy Partners (NYSE:DEP), Enbridge Energy Partners (NYSE:EEP) and Helix Energy Solutions Group (NYSE:HLX).

About Evolution Solar Corporation

Evolution Solar Corporation, (EVSO), commercializes leading edge alternative solar energy technologies and related photovoltaic technologies, equipment and next generation appliances. Evolution Solar is an emerging industry leader capitalizing on its understanding of solar technology and supporting the development of alternative energy plans for large corporations and government organizations. Evolution Solar is also an expert consultant agency to organizations in their strategic and procurement plans for alternative energy contracts with public utilities.

For more information, visit http://www.evolutionsolar.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

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