October 03, 2006
By: by Erica Dart, DayStar Technologies
– October 3, 2006 – DayStar Technologies, Inc. (NASDAQ:DSTI), a developer and manufacturer of innovative CIGS Photovoltaic Foil™products, has been named as a recipient of a $1 Million development award in the fiscal year 2007 Department of Defense Appropriations Act for the Advanced Photovoltaic Module Development for Lighter Than Air Vehicles in the United States Air Force Research, Development, Test & Evaluation, Advanced Spacecraft Technology Program.
The appropriation request by DayStar originated through Congressman John E. Sweeney (R), 20th District New York. The funds will enable DayStar’s continued development and integration activities addressing high specific power and form factor flexibility applications for the Company’s LightFoil™ line of CIGS solar cells. DayStar anticipates using a portion of the funds for technology and product development with local New York partners.
Representative John Sweeney said, “The talent and national security work being done right here in the Capital Region is a critical component to our nation’s defense and I’m proud to see the local talent being appreciated at the federal level. It’s my job to ensure that the federal government is aware of the tremendous work being accomplished here locally. These funds represent the hard work and dedication of DayStar and I will keep doing all I can to support their efforts.”
“We appreciate Congressman Sweeney’s support and look forward to working closely with the Air Force Research Lab and our New York partners in advancing our unique LightFoil™ cell technology,” said Terry Schuyler, vice president of sales and marketing at DayStar Technologies. “Development under this funding will further expand our markets in commercial, national defense and homeland security applications and will also benefit the development of new TerraFoil™ products. This is yet another opportunity for DayStar to demonstrate the enabling value of products produced by our high efficiency manufacturing approach to CIGS solar cells.”
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is an emerging leader in low cost, high efficiency Photovoltaic Foil™ that converts sunlight into energy. The Company manufactures CIGS solar cells, which are deposited on flexible metal foils using production processes adapted from computer component manufacturing. As an alternative to wafer-silicon solar cells, DayStar believes the unique combination of its CIGS solar cell design coupled with proprietary manufacturing processes on flexible metal substrates could substantially lower costs and remove deployment barriers currently limiting large adoption of solar energy. For more information on the Company, please visit http://www.daystartech.com.
SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future, " "plan" or "planned, " "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including risks that our products may not achieve customer acceptance or that they will not perform as expected, and other risks identified in our annual report on Form 10-KSB and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and DayStar Technologies Inc. undertakes no obligation to update such statements.