Research Breakthrough Spurs Octillion to Accelerate Development of Glass Windows Able to Generate Electricity

Octillion doubles funding for research and development after researchers successfully create mechanically stable developmental prototype.

Vancouver, BC – July 23, 2007 – Octillion Corp. (Symbol: OCTL) today announced that the Company has doubled its research funding in order to accelerate development of the first-of-its-kind transparent glass window capable of generating electricity, following encouraging research outcomes and completion of a developmental prototype window, a major breakthrough milestone.

Last month, researchers created an early lab scale model of Octillion’s transparent photovoltaic ‘NanoPower Window’.  Scientists successfully engineered and assembled a mechanically stable, see-through developmental prototype, which achieved optically active down-conversion and displayed good electrical properties with no electrical shorts.

“Recently, we’ve been fortunate to accomplish significant breakthroughs, and as a result, I’m proud to announce that Octillion has now formally committed to doubling our research funding pursuant to our Sponsored Research Agreement, which allows our collaborating scientists to more aggressively exploit these important findings,” explained Octillion President and CEO, Mr. Harmel S. Rayat.

Key to the development of Octillion’s transparent NanoPower Windows is a proprietary spray coating of a silicon nanoparticle film, which is fluorescent and able to convert the sun’s energy into electricity.  The process of producing these silicon nanoparticles is supported by 10 issued US patents, 7 pending US patents, 2 issued foreign counterpart patents and 19 pending foreign counterpart patents.

The process for spraying the silicon nanoparticles onto glass surfaces is unique to Octillion, and is among the Company’s major research achievements.  Earlier this year, researchers developed a protocol for reliably depositing nanoparticles onto glass surfaces using a proprietary electro spray system able to produce nanofilms of controllable thickness.  Importantly, the silicon nanoparticles retained their high efficiency of down conversion of UV light to the visible after being sprayed, a procedure that does not compromise the optical characteristics of the nanoparticles, both in intensity and spectral distribution, a prerequisite for efficient photovoltaic conversion.

[View news regarding Octillion’s development of proprietary nanoparticle spray system:
http://www.octillioncorp.com/OCTL_20070207.html]

In an important breakthrough just last month, researchers developed an early model of the world’s first transparent photovoltaic windows of its kind, successfully ‘stacking’ silicon nanoparticles between ultra-thin films of metal, onto a glass surface.  Preliminary tests have shown that this stack is mechanically stable and of even thickness.  Tests for optical characterization have demonstrated that the model is of a high-quality see-through architecture, important to maintaining maximum transparency of a finished commercial product.

[View news regarding Octillion’s breakthrough prototype ‘NanoPower Window’:
http://www.octillioncorp.com/OCTL_20070604.html]

“The research advances we’ve achieved over the past few months are encouraging enough to prompt us to significantly increase our commitment to aggressively fund the development of our NanoPower Window technology.  With this additional injection of capital to fund personnel, equipment and materials, I’m looking forward to seeing our leading edge technology build on its momentum and move forward in the weeks and months ahead,” concluded Mr. Rayat.

SolarWindow Technologies, Inc. creates transparent electricity-generating liquid coatings. When applied to glass or plastics, these coatings convert passive windows and other materials into electricity generators under natural, artificial, low, shaded, and even reflected light conditions.

Our liquid coating technology has been presented to members of the U.S. Congress and received recognition in numerous industry publications. Our SolarWindow™ technology may generate 50-times the power of a conventional rooftop solar system and may achieve a one-year payback when installed on all four sides of a 50-story building, according to independently-validated power and financial modeling.

Power and Financial Model Disclaimer

The company's Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations, which are consistent with renewable energy practitioner standards for assessing, evaluating and estimating renewable energy for a PV project. The Power & Financial Model estimator takes into consideration building geographic location, solar radiation for flat-plate collectors (SolarWindow™ irradiance is derated to account for 360 degrees building orientation and vertical installation), climate zone energy use and generalized skyscraper building characteristics when estimating PV power and energy production, and carbon dioxide equivalents. Actual power, energy production and carbon dioxide equivalents modeled may vary based upon building-to-building situational characteristics and varying installation methodologies.

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