1366 Technologies and Tokuyama Corporation Form Strategic Partnership

  1366 Technologies and Tokuyama Corporation Form Strategic Partnership

Business Wire

BEDFORD, Mass. & TOKYO -- May 07, 2013

Today, solar wafer manufacturer 1366 Technologies and Tokuyama Corporation 
(4043:JP), the leading silicon producer in Japan and the fourth largest
producer of silicon in the world, entered into a strategic partnership
designed to drive down the cost of photovoltaics.

While the terms of the non-equity partnership were not disclosed, the two
companies will combine resources and collaborate on research and development
efforts with the aim to accelerate the adoption of 1366’s Direct Wafer
technology. 1366’s Direct Wafer is a transformative manufacturing process that
produces a uniformly better silicon wafer at half the cost.

“Strong partners are an essential element to our success, and we have found
another in Tokuyama. This is a fantastic validation of our technology with
tremendous upside,” said Frank van Mierlo, CEO, 1366 Technologies. “When many
in the solar industry are pulling back, 1366 and Tokuyama are readying for the
inevitableglobalmarket turnaround.”

“For nearly a century, Tokuyama has taken pride in its ability to pursue
innovation and make the world a better place. Our strategic partnership with
1366 is a prime example of that commitment,” said Hidenori Okamoto, Managing
Executive Officer, Tokuyama Corporation. “We’re very excited to bring our
materials expertise to the table.”

Earlier this year, 1366 celebrated the opening of a new, 25 MW wafer
manufacturing facility, the final step in the path to commercialization of the
company’s Direct Wafer technology. Since its founding in 2007, the company has
steadily and quietly reached new technical heights, achieving competitive cell
efficiencies of 17 percent in customer trials and sharply reducing the
variance in wafer product quality.

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.

About Tokuyama Corporation

Tokuyama Corporation was founded in 1918 and has 5500 employees. Tokuyama
Group mainly manufactures and sells chemical products such as soda ash,
caustic soda, vinyl chloride resin, film products, isopropyl alcohol,
pharmaceutical ingredients and intermediates, multicrystalline silicon,
silica, aluminum nitride, portland cement, plastic window sashes and others.
For more information, please visit http://www.tokuyama.co.jp/eng/.

Contact:

For 1366 Technologies
Laureen Sanderson, 617-694-7336
lsanderson@tieronepr.com
or
Tokuyama Corporation
Yoshifumi Matsumoto, +81-3-6205-4832
General Manager
Corporate Communications & Investor Relations Dept.
y-matsumoto@tokuyama.co.jp