Amonix Announces World's Largest High-Concentration PV Solar Project.

Business Editors

TORRANCE, Calif.--(BUSINESS WIRE)--April 26, 2001

Amonix Inc., of Torrance, today announced that Arizona Public Service Co. (APS), Arizona's longest-serving electric utility, plans to install the world's largest high-concentration photovoltaic (HCPV) solar project using Amonix's patented technology.

The distributed, multi-site system will be rated at more than 500 kilowatts (half a Megawatt) and will produce enough energy to power more than 165 homes. With an overall DC system efficiency at converting sunlight to electricity exceeding 17 percent, Amonix's solar array is projected to be the lowest-cost photovoltaic technology when manufactured in volume.

Further, the systems could play an important role in the nation's energy strategy. The first 100 kilowatts of the project came on line April 5, 2001, with an additional 400 kilowatts planned to be installed this year.

"For several years we have been working with Amonix to develop this technology, and are pleased to be constructing and operating these first commercial solar power generation facilities," said Herb Hayden, Solar Program Coordinator for APS. "We are confident that high-concentration PV is ready for large-scale commercial use, and this installation will demonstrate it."

The announced project will generate more than 1,000 megawatt-hours per year when fully operational. The power will be fed into APS's electrical grid, and will displace an equivalent amount of electricity that would have ordinarily been generated by more traditional methods.

According to the Environmental Protection Agency's (EPA) estimates(a), more than 2,384 lbs. of NOx, 3,713 lbs. of SO2 and 1,249,249 lbs. of CO2 will be avoided annually as a result of the installation. A deployment of this magnitude marks a significant step for concentrating solar technologies, bringing them closer to large-scale commercial use.

Amonix was able to bring its HCPV technology from concept to commercial status through early collaboration with the Electric Power Research Institute, and with support from the Department of Energy and from national laboratories including the National Renewable Energy Laboratory and Sandia.

Each HCPV array is more than 55 ft. wide and 45 ft. tall and contains five MegaModule(TM) building blocks rated at 5 kilowatts each. The MegaModules(TM) are mounted on a powerful two-axis drive/structure that tracks the sun with high precision. The system concentrates sunlight 250 times, reducing the amount of costly solar cell material needed to generate a given amount of electricity by approximately the same factor.

"Our technology has an opportunity to play a major role in solving our country's energy crisis," stated Vahan Garboushian, president and founder of Amonix. "Our system can be readily manufactured in volume, and has great potential to be the world's lowest-cost solar option."

The HCPV technology lends itself well to high-volume production that could be easily ramped up as the demand for solar generation increases. As with most manufacturing industries such as automotive and electronics, as the production of MegaModules(TM) increases, their cost on a per-unit basis dramatically decreases. These factors position Amonix's HCPV systems well when it comes to producing large amounts of electricity from the sun.

"Environmental benefits and cost are both important factors that must be balanced, which is why APS has been so supportive of solar development," according to Hayden. "We're excited about the potential that Amonix and high-concentration PV has as a large-scale solar generation resource."

About Arizona Public Service

APS, Arizona's largest and longest-serving electric utility, serves more than 857,000 customers in 11 of the state's 15 counties. With headquarters in Phoenix, APS is the largest subsidiary of Pinnacle West Capital Corp. (NYSE:PNW).

About Amonix Inc.

With headquarters in Torrance, Amonix is a privately held designer and manufacturer of proprietary, patented high-performance photovoltaic (PV) solar cells and high-concentration photovoltaic solar generating systems. For more information, visit www.Amonix.com.

(a) These figures are estimates based on regional emission factors.

Note to Editors: Photos available upon request.