DayStar Acquires 20% Equity Interest in Next Generation Solar Technology Allowing Generation and Storage All in One

DayStar Acquires 20% Equity Interest in Next Generation Solar Technology 
Allowing Generation and Storage All in One 
KELOWNA, BC -- (Marketwire) -- 02/06/13 --  DayStar Technologies,
Inc. (NASDAQ: DSTI) said today its board of Directors has approved
the acquisition of a 20% equity ownership in BC-based Premier Global
Holdings Corporation, which has successfully demonstrated solar cells
that are the first to combine energy generation and power storage in
one cell. 
DayStar is to issue $12 million in preferred stock in return for the
20% equity ownership position in privately held Premier. The
preferred can be converted to common stock at $1.60 per share, and
will pay an in-kind dividend of 5% per annum. 
According to its president, John Crawford, "Premier's photosynthesis
photovoltaic (PV) system promises significantly lower total solar
energy costs, good performance in low lighting conditions, along with
a significantly reduced footprint, and a wide range of possible form
factors." Crawford, who served as Director of Strategic Ventures for
the Energizer Holdings (ENR) before resigning to become President of
Premier said he "looks forward to a successful partnership with
DayStar, and its important network of affiliates and advisors
throughout the world." 
Lorne Roseborough, DayStar President, said this new technology
represents a "fundamental change" in the business model for solar
energy, and "will provide Daystar with a significant competitive
advantage in its efforts to facilitate utilities and their customers
in designing more cost effective and profitable renewable energy
projects." 
Developed at the University of British Columbia (UBC), the new
technology integrates photosynthesis into the photovoltaic (PV)
system permitting for the first time, simultaneous generation and
storage in a single solar cell. The system addresses the natural
intermittency of Solar (PV) and can make solar power available under
low or no direct sun conditions; the result is a built-in solution
for reducing total demand on the local electrical grid. Each
battery-like cell comes complete with two electrodes and an
electrolyte. Light is absorbed by harvesting light molecules in the
electrolyte. Charges are then transferred between the excited light
harvesting molecules 
and mediator molecules that are also in the
electrolyte with nearly perfect quantum efficiency. The mediators
store the harvested energy, which can then be extracted at the
electrodes on demand.  
According to Roseborough, "The technology will enable the deployment
of units that could be built into apartments, offices, homes, and
industrial sites, providing power during utility system outages and
natural disasters."  
Day Star views this as a long-term strategic investment, he said,
"Having assembled a team of world class engineers and system
designers, and developed or co developed projects now or soon to be
underway around the world using today's technology, we are very well
aware the critical role new technology will play in the expansion of
the solar market. 
"By investing in Premier we gain access to an important piece of that
future," Roseborough said, "Without committing the company to fund
and manage its own research and development team."  
About DayStar Technologies, Inc: 
DayStar Technologies, Inc. (DSTI) is a developer of solar
photovoltaic products and has assembled a world-class team of project
engineers, and industry finance professionals, to facilitate the
complete development of renewable energy projects throughout the
world. DayStar is currently embarking on a strategy of strategic
partnerships to enter new markets within the global renewal energy
industry including ownership and construction of solar and renewable
power plants. For more information, visit the DayStar website at
http://www.daystartech.com/.  
For further information about this release contact William Nalley
Orsay Groupe, Inc. 305-515-8077 Info@OrsayGroupe.com  
Contact:
William Nalley 
Orsay Groupe, Inc.
305-515-8077 
Info@OrsayGroupe.com 
 
 
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