U.S. Markets close in 4 hrs 27 mins

Former DuPont Executive Joins Equity Solar's Executive Management Team as President & Chief Operating Officer

SAN ANSELMO, CA--(Marketwire - Mar 1, 2013) - Equity Solar, Inc., a company specifically established to commercialize a leading-edge solar photovoltaic (PV) technology, today announced that it has appointed David Maloney, Ph.D., as President and Chief Operating Officer, effective March 1, 2013.

Dr. Maloney spent fifteen years at DuPont/EKC Technology, where he held several roles, including US R&D and Applications Engineering Manager, Global Product Manager and Global Technology Director.

"As Equity Solar enters the commercialization phase of its business strategy, it was critical for us to have a leader of Dr. Maloney's caliber on our team. Dr. Maloney not only has a deep understanding of our processes and chemistry, but will also provide important business experience, having overseen all aspects of bringing new technologies to market," said Equity Solar's Chairman Chester Aldridge. "In addition, Dave's substantial IP background and experience will help us to properly fortify our technology portfolio as our products are adopted in the marketplace."

"As a Board Member of Equity Solar, I've had the privilege of being a part of the company's progression," said Dr. Maloney. "I am excited at the opportunity to lead the company as it enters a critical commercialization phase for its technology. The overwhelmingly positive response this technology has already received by the majority of PV manufacturers has been hugely encouraging, and I'm excited to be taking an active operating role as we go to market."

Over the past two months, Equity Solar's VP of Sales Lawson Huang and CTO Greg Knight have had on-site meetings with manufacturers representing approximately 40% of global PV manufacturing capacity. The majority of those manufacturers have executed Letters of Intent with Equity Solar outlining their desire to enter into beta programs with the goal of implementing Equity Solar's technology into their existing manufacturing processes. 

About Equity Solar, Inc.

Equity Solar, Inc. was specifically formed to commercialize a leading-edge patented solar photovoltaic (PV) technology licensed from Special Materials Research and Technology (SPECMAT).

Equity Solar, Inc. was founded and incubated by the management team of US Equity Holdings. For more information, visit www.usequityholdings.com.