Entech Solar Announces 2009 Third Quarter Results

8:00 am EST, Monday November 9, 2009

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar, Inc. (ENSL.OB) (the “Company” or “Entech Solar”), with plans to become a leading developer of renewable energy technologies, today announced its financial results for the quarter ended September 30, 2009.

Third Quarter Operational Highlights

* ThermaVolt™ II: The Company completed the assembly and test of multiple working modules using its proprietary concentrating photovoltaic (PV) and thermal technology, and has started the next crucial phase in the product’s development – design-verification-testing (DVT). DVT allows Entech Solar’s engineers and scientists to test and validate the performance and quality of the modules prior to the commencement of independent third-party product certification. ThermaVolt II modules, which produce both electricity and hot water, have the same length and width dimensions (form factor) as industry-standard PV modules.
* SolarVolt™ II: Entech Solar announced plans to develop an electricity-only concentrating photovoltaic solar module. With a form factor similar to the ThermaVolt II module, this Concentrated Power Product (CPP) offers customers large-scale utility solutions.
* Tubular Skylight Lighting Solution: The Company completed the critical design review of its patented lighting solution product and the development of its go-to-market commercialization strategy. Product certification has started with independent third-party testing laboratories. The Company plans to begin selling this product in early 2010 with an initial launch in North Texas.

“I am pleased to update investors on Entech Solar’s product development progress. We received positive comments on our ThermaVolt II prototype module that was recently on exhibit at Solar Power International, North America’s largest solar industry conference in Anaheim, California,” said Dr. Frank Smith, Chief Executive Officer.

“We continue to advance our products through critical development and gate reviews. We expect ThermaVolt II to offer a compelling value proposition to the multi-billion dollar U.S. combined heat and power market with its dual output of electricity and thermal energy, standard manufacturing and competitive price point. The Company’s strategic goal is to be a leading developer of renewable energy technologies for the commercial, industrial and utility markets.”

Entech Solar Announces Products Update

Introducing Design of Next-Generation Product – SolarVolt II

8:00 am EDT, Monday October 19, 2009

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL.OB) (the “Company”, “Entech”) today announced progress on its ThermaVolt™ II and tubular skylight products, as well as its plans for its SolarVolt™ II product, which would generate electricity only.

Highlights:

* ThermaVolt II: Entech is completing its design-verification-testing modules for the ThermaVolt II product. The Company plans to exhibit a unit at Solar Power International 2009 in Anaheim, California later this month.
* Tubular Skylight: Entech has completed the critical design review of its tubular skylight product with product launch planned within a few months.
* SolarVolt II: Entech has begun developing an electric-only design of its concentrating solar product for solar utility projects.

Entech is currently completing the ThermaVolt II modules for the design-verification-testing (DVT) phase of product development. After the successful completion of the product prototype in June 2009, completion of modules for DVT will represent the product’s next significant milestone. The goal of the design-verification-testing is to build a high level of confidence in Entech’s ability to successfully pass product certification testing. Certification testing is set to begin in early 2010.

Entech has also made progress on its tubular skylight. The Company will complete the product’s critical design review this month, which will finalize the design to be used in testing and certification. Going forward, Entech’s next step with respect to its skylight product is to continue product testing and certification in preparation for product launch in a few months.

In addition to the progress made on the ThermaVolt II and tubular skylight products, Entech has also announced the design development of its next-generation SolarVolt II product. Similar to the ThermaVolt II, the SolarVolt II leverages Entech’s proprietary concentrating solar technology that has been successfully proven for 25 years. Unlike the ThermaVolt II product which produces both electricity and thermal energy, the SolarVolt II product will generate electricity only. The primary application of SolarVolt II will be large-scale solar utility projects in areas with high direct normal irradiation (DNI). The Company’s next step in the SolarVolt II product development will be completing the preliminary design and an operational prototype.

“I am pleased to announce these product updates. We continue to make significant progress across our product lines, and Entech Solar’s next-generation SolarVolt II design and development is an exciting proposition,” said Frank Smith, CEO.

Entech Solar Announces 2009 Second Quarter Results

Significant Progress Achieved on Next Generation Products

Monday August 10, 2009, 8:00 am EDT

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar, Inc. (ENSL.OB) (the “Company” or “Entech Solar”), with plans to become a leading developer of renewable energy technologies, announced today its financial results for the quarter ended June 30, 2009.

Second Quarter Operational Highlights

* Completed preliminary design and construction of a module prototype of its next-generation concentrating solar product, ThermaVolt™ II which will be deployed with both ground and roof-mount trackers, and is being designed for low cost, manufacturability, ease of installation and high reliability.
* Filed multiple patent applications associated with the ThermaVolt II module to ensure appropriate intellectual property protection.
* Recently completed the preliminary design of its patented tubular skylight and announced its intention to commercialize this product.
* Business transformation from a flat-plate photovoltaic engineering, procurement and construction company to an advanced technology-based solar solutions developer resulted in significant revenue reduction in the second quarter of 2009.

“Entech Solar is pleased to announce meaningful progress in both the development of its concentrating solar module, ThermaVolt II, and its tubular skylight products over the past few months,” said Dr. Frank Smith, Chief Executive Officer. “We expect ThermaVolt II to offer a compelling value proposition to the multi-billion dollar U.S. combined heat and power market with its dual output of electricity and thermal energy, competitive price point and standard installation.

“In addition to the concentrating solar modules, we are developing and commercializing a line of tubular skylight products, which we view as an important strategic investment that may enhance the Company’s near-term revenue and market presence. We remain focused and dedicated to completing the development and commercialization of our products as soon as possible, and continue to assess opportunities to accelerate this process.”

Entech Solar Unveils Next-Generation Products

Friday July 31, 2009, 8:00 am EDT

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL.OB) (the “Company”, “Entech”) today announced significant progress with its development programs for both its concentrating solar and skylight products. Since March 2009 when Entech suspended manufacturing operations for its previous generation of concentrating solar systems, the Company has been fully dedicated to the design and development of its next-generation products.

Highlights:

* Successful completion of the preliminary design review and prototype of the next-generation concentrating solar product, ThermaVolt™ II
* Filing of multiple provisional patent applications associated with the ThermaVolt II module
* Successful completion of the preliminary design review of the patented tubular skylight

Entech has successfully completed the preliminary design phase of its next-generation product in the ThermaVolt product line, ThermaVolt II, including the construction and operation of a prototype that produces both electricity and thermal energy. Dr. Frank W. Smith, Entech Solar’s Chief Executive Officer, comments, “ThermaVolt II’s combined output of electricity and thermal energy produces four to five times the amount of energy compared to traditional photovoltaic systems. Through the net metering of electricity and the offset of natural gas, ThermaVolt II has the potential to be highly disruptive in the solar energy marketplace.” In addition to Entech’s previous concentrating solar energy patents, the Company has filed a number of new provisional patent applications associated with the ThermaVolt II design and manufacturing process to ensure appropriate protection of the Company’s intellectual property and to allow public disclosure of certain product features and benefits.

ThermaVolt II leverages Entech Solar’s proven optical technology by using its proprietary arched Fresnel lens to provide about 20 times concentration of sunlight onto the solar cells, saving about 95% of the relatively expensive silicon cell material. “For the past 25 years, our arched Fresnel lenses have demonstrated outstanding performance in the real-world environment, and ThermaVolt II will continue to use this proven optical concentrating technology,” said Mark O’Neill, Entech Solar’s Chief Technology Officer. The product’s unique design is applicable for both ground and roof-mount applications, and focuses on low cost, manufacturability, ease of installation, compactness and high reliability.

The ThermaVolt II module’s size and shape are similar to those of a standard flat-plate PV module. The standard dimensions will ease adoption in the marketplace and expands Entech’s addressable market to include rooftop applications. The standard size also allows for a more conventional installation approach, greatly increasing the potential dealer and installer channels to market. In addition, the fully-assembled, compact shape enables palletized shipping, resulting in reduced transportation costs. Additional product details and images of the ThermaVolt II prototype may be found on Entech Solar’s website: www.entechsolar.com.

In addition to its improved design, ThermaVolt II leverages well-known, existing semiconductor manufacturing processes using proven, off-the-shelf equipment and can be readily outsourced to low-cost, sub-contract manufacturers. Entech’s ability to outsource the manufacturing of the ThermaVolt II module will allow for more competitive pricing and for readily increasing production volumes.

Since March, the Company has also been dedicating resources to the development of its patented tubular skylight. With significant applicable funding opportunities from the American Recovery and Reinvestment Act of 2009 and a growing commercial green building market, Entech Solar has renewed its commitment to commercialize its state-of-the-art tubular skylight. “We view the skylight opportunity as a possible means to diversify and grow our near-term revenue,” states Dr. Smith. Skylight customers benefit from reduced electricity bills and increased productivity from the natural light, resulting in an expected payback period of approximately five years. The manufacturing of the skylight can be easily outsourced, requiring very little capital investment from the Company. Images of Entech’s installed tubular skylights and their lighting performance can be viewed on Entech Solar’s website: www.entechsolar.com

Going forward, Entech Solar will continue to focus on the commercialization of both the ThermaVolt II and tubular skylight products. The Company’s next steps in developing the ThermaVolt II module include building a reliable supply chain, completing the UL-certification process, and installing beta sites. The Company’s next steps in developing the tubular skylight product line include building a reliable supply chain and working with roofing companies and energy service companies (ESCOs) on initial installations.

Entech Solar, Inc. Announces First Quarter Results

Strategy in Place for Next Generation Products

Thursday May 7, 2009, 8:00 am EDT

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar, Inc. (ENSL.OB) (the “Company”) a leading developer of concentrating photovoltaic (CPV) solar energy systems, has announced its financial results for the three months ended March 31, 2009.

Operational Highlights:

* The Company has suspended manufacturing operations of its first-generation CPV products to focus all of its resources on its next generation of solar concentrating modules for expanded rooftop and other customer-driven applications.
* Entech Solar is leveraging its proprietary SolarVolt™ and ThermaVolt™ technology and know-how to form the foundation for these next generation products, which are being developed by a team of highly qualified solar, electrical, mechanical, and process engineers and scientists, and will employ many proven industry-standard manufacturing processes and practices.
* Based on the decision to suspend manufacturing, the Company took a non-cash impairment charge of $6.8 million during its first quarter related to certain fair value adjustments to manufacturing equipment, inventory and leasehold improvements.
* The Company’s balance sheet remains strong, with cash on hand of $8.9 million at March 31, 2009. Management plans to complete the $3 million Rights Offering and intends to seek additional funding for growth through the equity capital markets.

“Entech Solar announced a significant change to its product development plan this past quarter that is designed to focus the Company on the most commercially viable development path for maximum market penetration,” said Frank Smith, CEO. “We are committed to commercializing our next generation CPV technology to improve upon our existing ThermaVolt and SolarVolt product lines as a key element in providing both hardware and turnkey, vertically-integrated energy solutions to our customers. We believe our new products will provide a more attractive value proposition, serve a wider market, and provide better returns for the Company and our shareholders going forward.”

Entech Solar Announces Change in Strategic Direction

Monday March 30, 2009, 8:00 am EDT

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL), a leading developer of concentrating solar energy systems, today announced that it has suspended its manufacturing operations for its current generation of concentrating solar systems to enable the company to focus all of its resources on the rapid development and commercialization of its next generation products. This decision follows a thorough review of the Company’s go-forward growth strategy.

“The implementation of this change in strategic direction is already underway at Entech, and we have moved aggressively to reduce headcount and costs related to our current manufacturing operations,” said Frank Smith, CEO. “The Board made this strategic decision based on the promise of our next generation solar products, which will offer a significantly higher value proposition to customers and address a larger market, including rooftop applications, versus our current systems. The Company is restructuring itself around this new strategy and is dedicating all resources to ensuring its success.”

“I believe, along with the rest of the Board, that this is the best direction for Entech,” said David Gelbaum, Chairman of the Board. “Entech’s next generation solar concentrating products have the potential to be truly disruptive in the solar space – with improved efficiencies, reduced cost, smaller size, and additional applications. I am confident that the future of the Company lies with this development and am committed to seeing it reach commercialization.”

Entech Solar Announces Fourth Quarter Results

Tuesday March 17, 8:00 am ET

Progress Continues on Technology Commercialization

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL.OB), a leading developer of concentrating solar energy systems, today announced its financial results for the three and twelve months ended December 31, 2008.

Recent Operational Highlights:

* The Company, during and subsequent to the fourth quarter, substantially completed all of its photovoltaic flat-plate solar installation projects, changed its name and ticker symbol, made important changes to its Board of Directors, and redeployed significant resources towards its strategy of becoming a vertically integrated, concentrating solar energy company.
* The Entech manufacturing center in Fort Worth, Texas, made positive headway in addressing several process manufacturing issues as it prepares for product certification and the commercialization of its SolarVolt and ThermaVolt technologies.
* The Company had cash on hand of $12 million on December 31, 2008. In addition, Entech has announced a 40% staff reduction, is cutting non-payroll expenses by 20%, has eliminated non-essential capital spending, and is expected to collect approximately $4.5 million of flat-plate contract accounts receivable in the near future.

“Since our last earnings conference call in November, we have made significant progress in addressing many manufacturing process issues at our new facility and brought on board an impressive group of individuals with advanced engineering degrees and years of appropriate experience to reposition the company for future growth,” said Frank Smith, Chief Executive Officer. “While making progress in correcting many of the operational items discussed last quarter, we have encountered some additional challenges as we bring our production on line. Our promotion of Sean Rooney to Chief Operating Officer has brought more urgency and focus to our efforts to solve the remaining areas to be addressed.

“As our operations team makes headway with regard to product launch, we continue to introduce our Entech modules to potential clients and beta-testing partners – many of whom appear interested in installing our advanced SolarVolt and ThermaVolt systems as soon as available. We expect that, once our products are ready for market, several beta-test partners will take delivery of Entech modules even as the product certification process continues.

Entech Solar Announces $3 Million Rights Offering

Friday March 13, 12:00 pm ET

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL.OB), a leader in concentrating solar energy systems, today announced that it intends to effect a $3 million common stock rights offering to its shareholders in order to raise equity capital for general corporate and working capital purposes. The rights will have an exercise price of $0.1615, which is equal to 85% of the closing price for the common stock on March 12, 2009. The Quercus Trust, the largest beneficial owner of Entech’s common stock, has agreed to back stop the rights offering by purchasing on the same terms up to $764,000 of shares not subscribed through the exercise of rights, in addition to the $1,236,000 of shares it will have the right to purchase due to its current ownership interest in Entech, for a total investment of up to $2 million. A record date for the rights offering has not been determined.

The Company intends to file with the Securities and Exchange Commission a registration statement covering these transactions, and the distribution of rights and commencement of the rights offering will occur promptly following the effectiveness of that registration statement.

Under the terms of the rights offering, the Company will distribute at no charge to the holders of its common stock transferable rights to purchase up to an aggregate of approximately 18,576,000 new shares of common stock. The Company will distribute to each such holder one transferable right for every share of common stock owned on the record date, which will be set forth in a prospectus to be filed with the Securities and Exchange Commission. Each right will entitle the holder to purchase one share of common stock for $0.1615. Stockholders as of the record date will be entitled to subscribe, subject to allotment among all subscribing stockholders, for shares not subscribed for by other shareholders.

Consummation of the rights offering will be subject to customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The rights offering, which is expected to be launched immediately following the effectiveness of a registration statement relating to the offering, will be made only by means of a prospectus.

Entech Solar Enters Into Agreement with Fraunhofer USA’s Center for Sustainable Energy Systems

Friday March 13, 7:30 am ET

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL.OB), a leader in concentrating solar energy systems, announced today that it has entered into a research contract with Fraunhofer USA’s Center for Sustainable Energy Systems (CSE) to evaluate the feasibility of incorporating high-efficiency back-contact silicon solar cells into Entech’s 20x concentrating solar systems.

Fraunhofer CSE will, in conjunction with the Fraunhofer Institute for Solar Energy Systems (ISE), simulate, design, and test prototype back-contact silicon solar cells with the goal of providing a cell with significantly greater efficiency than those Entech currently uses. Fraunhofer will also make recommendations related to the future mass production of such high-efficiency back-contact cells for use in Entech’s products. Fraunhofer CSE will utilize its recently established solar development and test laboratory in Cambridge, Massachusetts, in conjunction with Fraunhofer ISE’s facility in Freiburg, Germany – Europe’s largest solar research facility.

“Our engagement with Fraunhofer demonstrates Entech’s commitment to producing the most efficient, highest quality concentrating solar products available,” said Frank Smith, CEO of Entech Solar. “This contract supports the Company’s strategy of commercializing its existing concentrating solar modules as well as investing in next generation systems. We expect to realize significant performance improvement through this relationship.”

About the Fraunhofer Center for Sustainable Energy Systems

The Fraunhofer Center for Sustinable Energy Systems (CSE) is one of Fraunhofer USA’s six applied research laboratories. Fraunhofer USA, an American 501(c)3 non-profit research organization, operates labs in sustainable energy, biotechnology, computer security, manufacturing innovation, laser technology, and industrial coatings The CSE is dedicated to serving the research needs of the sustainable energy industry, helping both established industry players and newcomers alike to move clean energy technologies from the laboratory to the production line. The center, established with grants from the Massachusetts Technology Collaborative, National Grid and other private donors specializes in solar technologies, building efficiency technologies and systems, and energy device prototyping.

Entech Solar Announces Restructuring

Monday March 2, 8:00 am ET

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL.OB), a leader in concentrating solar energy systems, announced today that it has undertaken significant cost reduction activities to position the Company for improved performance in the quarters to come.

In conjunction with Entech Solar’s shift in strategic direction, management has focused on reducing costs and streamlining the Company’s overall operations. To date, the Company has implemented several initiatives to achieve this, including rationalizing headcount and relocating the corporate headquarters from Ewing, NJ, to Fort Worth, TX. Entech has already eliminated 33 employees, representing a 40% staff reduction and similar decrease in annualized payroll expense.

In addition, Entech plans to close its California locations by mid-2009 and has also eliminated a number of consultants. Entech is targeting a 25% overall reduction in non-payroll costs by curtailing all non-essential spending and evaluating outsourcing opportunities.

Frank Smith, CEO, stated, “This is a transformational year for Entech Solar. As such, we are not only changing our strategic focus but also looking to improve the operating structure of the business. We will continue to search for opportunities to reduce spending, decrease our cash burn, and allocate resources efficiently as we lay a framework to reach profitability and increase shareholder value.”

The Quercus Trust Agrees to Cancel Warrants

Friday February 13, 8:00 am ET

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (ENSL.OB), a leader in concentrating solar energy systems, announced today that The Quercus Trust, the Company’s largest shareholder, has agreed to cancel Warrants to purchase thirty-eight million (38,000,000) shares of the Company’s common stock in accordance with the terms of a Warrant Cancellation Agreement entered into with the Company.

The Quercus Trust has decided to cancel these warrants in consideration for the Company’s agreement to increase the number of shares available under the Company’s 1999 Stock Option Plan, as amended (“the Plan”), from fifty million (50,000,000) shares to seventy million (70,000,000) shares. The Warrants will be cancelled upon approval of the Company’s stockholders of the increase in the number of shares available under the Plan.

David Gelbaum, trustee of the Quercus Trust and Chairman of Entech Solar’s Board, said, “This increase to the option pool will have the benefit of increasing morale at the company and of helping us attract good people in the future. Quercus believes in sharing upside with the employees.”

Entech Solar Announces New Ticker Symbol

Tuesday January 27, 3:11 pm ET

FORT WORTH, Texas–(BUSINESS WIRE)–Entech Solar (WWAT.OB), a leader in concentrating solar energy systems, today announced that the Company’s ticker symbol will change to ENSL.OB from WWAT.OB, effective January 28, 2009. This follows the Company’s recent name change, reflecting its commitment to commercializing Entech’s proprietary ThermaVolt™ system. Entech Solar will continue to trade on the over-the-counter (OTC) Bulletin Board under the new ticker.

EMCORE Corporation Completes Its Sale of WorldWater & Solar Technologies Corporation (Entech Solar, Inc.) Shares for $5.9 Million

Tuesday January 20, 4:05 pm ET

ALBUQUERQUE, N.M., Jan. 20 /PRNewswire-FirstCall/ — EMCORE Corporation (EMKR) a leading provider of semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets, announced today that it has completed the second closing of a two step transaction involving the sale of its remaining interests in the company formerly named WorldWater & Solar Technologies Corporation (WWAT), now named Entech Solar, Inc. In the second closing, the Company sold 1,446,428 shares of WorldWater Series D Convertible Preferred Stock and 152,522 Warrants to purchase shares of Series D Convertible Preferred Stock to The Quercus Trust for approximately $5.9 million. This completes the divestment of all of EMCORE’s equity interests in WorldWater. With the completion of this last sale in a series of four sales transactions, EMCORE has realized a 75% return on its investment in WorldWater securities. Based on this transaction and changes in WorldWater’s business plan, EMCORE has terminated the operational agreements between EMCORE and WorldWater.

WorldWater & Solar Technologies Changes Name to Entech Solar

Monday January 12, 8:00 am ET

FORT WORTH, Texas–(BUSINESS WIRE)–WorldWater & Solar Technologies Corp., (WWAT.OB), a leader in concentrating solar energy systems, announced today that it has changed its corporate name to Entech Solar, Inc. (the “Company”), effective January 12, 2009. The Company’s ticker will remain “WWAT.OB” temporarily until the Company is reassigned a new one. ENTECH, Inc. will continue as a subsidiary of Entech Solar, Inc.

“Entech Solar is a name that more accurately reflects the transformation of our business since our acquisition of ENTECH in January 2008,” said Frank Smith, Entech Solar’s CEO. “Today, we are a concentrating solar technology company focused on providing our advanced, cost-competitive modules to commercial and industrial customers. Entech’s core strategy will be on manufacturing and selling the company’s breakthrough ThermaVolt™ product, a combined photovoltaic and thermal concentrating solar system.”

WorldWater & Solar Technologies acquired ENTECH, Inc. in January 2008. ENTECH has been researching and developing concentrating solar systems for 25 years, making it one of the most experienced concentrating solar companies in the industry. Since the acquisition, the Company has dedicated its resources to commercializing its ThermaVolt system, which produces both electricity and thermal energy, making it one of the most efficient solar systems today.

“We have seen a lot of solar technologies, but haven’t found anything as exciting as the ThermaVolt system, which is a true game changer for the industry. We believe it will be the leader in the combined heat and power market,” said David Anthony, Director of Entech Solar and Managing Director of 21 Ventures.

In conjunction with the name change, Entech Solar has also relocated its headquarters from Ewing, NJ, to Fort Worth, TX, where its state-of-the-art, 70,000 square foot, 200MW capacity manufacturing facility is located.

EMCORE Corporation Raises Additional Cash Through the Sale of Shares of WorldWater & Solar Technologies Corporation

Thursday January 8, 3:08 pm ET

ALBUQUERQUE, N.M., Jan. 8 /PRNewswire-FirstCall/ — EMCORE Corporation (EMKR) a leading provider of semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets, announced today that it has completed the first closing of a two step transaction involving the sale of its remaining interests in WorldWater & Solar Technologies Corporation (WWAT.OB). The Company recently sold 1,446,428 shares of WorldWater Series D Convertible Preferred Stock and 152,522 Warrants to purchase shares of Series D Convertible Preferred Stock to The Quercus Trust for approximately $5.7 million and expects to complete the second closing, for an additional $5.7 million, within the next 90 days.

In November 2006, EMCORE purchased 4,892,857 shares of WorldWater Series D Preferred Stock and 505,044 Warrants. Upon completion of the second closing with The Quercus Trust, EMCORE will realize a 75% return on its WorldWater investment.

WorldWater & Solar Technologies Completes Solar Installation at Valley Center Municipal Water District

Monday January 5, 8:08 am ET

EWING, N.J.–(BUSINESS WIRE)–WorldWater & Solar Technologies Corp. (WWAT.OB), developer and marketer of proprietary high-horsepower solar systems, today announced that it has completed installation of a 1.1 MW solar power system for the Valley Center Municipal Water District (VCMWD) of Valley Center, California. The system, which was financed and will be owned, operated, and maintained by Solar Power Partners, Inc. (SPP) of Mill Valley, California, will provide 2.1 million kWh per year of electricity for the district, offsetting up to 20% of the electricity required by their largest pumping station.

The project was developed using a solar Power Purchase Agreement, which required no cash outlay from VCMWD, who will purchase the generated power from SPP for the twenty-five year life of the agreement.

“I am pleased to announce the successful completion of our flat-plate solar installation at Valley Center, on schedule and to the client’s specifications,” said Frank Smith, CEO, WorldWater and Solar Technologies. “This is another example of our ability to deliver ‘best in class’ solar technology to large commercial clients, as we did for Denver International Airport and Fresno Yosemite International Airport. The experience gained from these installations will serve us well as we look to bring our ENTECH CPV and CPVT modules to the market this year.”

“Solar Power Partners is proud to partner with WorldWater and Valley Center on this exciting solar solution. This facility is a wonderful example of what can be accomplished when water districts adopt solar and support renewable energy,” said Alexander v. Welczeck, President and CEO of Solar Power Partners.

“After almost three years of negotiating, planning, and implementation, it is very rewarding to finally see this ‘double green’ project come to life,” says Gary Arant, General Manager, Valley Center Municipal Water District. “This will provide long-term financial benefits for our agency and community, as well as a reduced carbon production environment – thus double green.”

Additional partners on this project included Sharp Solar, which supplied the panels for the project, and Xantrex Technology Inc., a subsidiary of Schneider Electric, which provided the inverters.

About Solar Power Partners, Inc.:

Solar Power Partners, Inc. (SPP) is a California-based renewable energy company that is leading the way in streamlining the adoption of clean solar energy by businesses, institutions and municipalities throughout the United States. Combining the financing strength of solar Power Purchase Agreements (PPAs) with the expertise and best practices of top solar and building industry professionals, SPP gives building owners a clear path to achieving energy independence with predictable electrical rates and without the risks or costs of owning and maintaining solar facilities. For more information please see www.solarpowerpartners.com.

WorldWater & Solar Technologies Announces Third Quarter Results

Monday November 10, 8:08 am ET

Posts Revenue of $6.5 Million; ENTECH Strategy in Place for 2009

EWING, N.J.–(BUSINESS WIRE)–WorldWater & Solar Technologies Corp. (WWAT.OB), developer and marketer of proprietary large-scale solar systems, today announced its financial results for the three and nine months ended September 30, 2008.

Financial Highlights:

* Revenue for the third quarter was $6.5 million, compared with $4.4 million reported in the third quarter of 2007. This 48% increase in revenue was driven by the Company’s 1.2 MW solar installation for the Valley Center Municipal Water District of Valley Center, California and the Denver International Airport project.
* The Company recorded a gross loss for the quarter of $2.3 million, versus a gross profit of $0.6 million in the prior-year quarter. The gross loss in 2008 was primarily the result of additional losses associated with the Valley Center project and loss provisions related to a solar project for the town of Windsor, CA that was terminated in late September. After many months of effort, securing financing for the Windsor project, with terms acceptable to the Company, was not achieved and the financing contingency of the agreement was invoked.
* The Company’s net loss attributable to common shareholders for the third quarter of 2008 was $7.4 million, or $(0.03) per share, compared with a loss of $3.8 million, or $(0.02) per share, in the third quarter of 2007.
* The Company’s balance sheet remains strong, with significant cash receipts expected from existing projects over the next few months. These receipts, along with the Company’s current cash balance of $10.4 million, will be sufficient to support our normal operating expenses, as well as our expansion plans at ENTECH, into 2009.

“WorldWater & Solar Technologies made considerable progress this quarter as we continue to re-position and transform our company behind ENTECH technology and know-how,” said Frank Smith, CEO. “We have put in place all of the necessary resources to complete our existing flat-plate projects, all of which should be substantially finished by late this year or early 2009. Concurrently, we have redeployed and hired significant resources behind our vertical integration strategy of manufacturing solar concentrator modules for both inclusion in ENTECH managed full scope EPC solar system projects, as well as for direct sale to third-party and strategically aligned installers. We are in the process of building the engineering, design, manufacturing, project management, project financing and administrative support infrastructure necessary to support our aggressive growth plans. We are placing significant emphasis on building a strong team that is technically competent, market focused, process oriented and highly disciplined.

Final Position Stops Out (portfolio beats S&P 500 by over 35%)

We’re not done here by any means.  Just protecting capital.  For those who took profits earlier, you are in great shape.  For the long term holders, book your losses and prepare for a re-entry once the wash sales are clear.

The fundamentals here are still strong in most cases and the growth going forward is outstanding.  We will follow the strength when we buy back in.  What we’ve seen so far is only the beginning.

Symbol	Company Name	Entry Date	Entry Price	Exit Date	Exit Price	P/L $	Days	P/L %
AKNS	AKNS – Akeena Solar, Inc.	6/13/2007	$     3.62	9/9/2008	$     3.50	$   (0.12)	454	-3%
AMAT	AMAT – Applied Materials, Inc.	6/13/2007	$    18.94	9/17/2008	$    16.00	$   (2.64)	462	-14%
ASTI	ASTI – Ascent Solar Technologies, Inc.	6/13/2007	$     7.30	9/8/2008	$     7.00	$   (0.30)	453	-4%
CSIQ	CSIQ – Canadian Solar Inc.	6/13/2007	$     9.71	10/3/2008	$    16.00	$    6.29	478	65%
CSUN	CSUN – China Sunergy Co. Ltd.	6/13/2007	$    11.02	8/6/2007	$     8.00	$   (3.02)	54	-27%
DSTI	DSTI – DayStar Technologies, Inc.	6/13/2007	$     5.13	7/25/2008	$     3.00	$   (2.13)	408	-42%
EMKR	EMKR – EMCORE Corp.	1/18/2008	$    10.49	3/18/2008	$     7.00	$   (3.49)	60	-33%
ENER	ENER – Energy Conversion Devices, Inc.	6/13/2007	$    30.30	10/10/2008	$    30.00	$   (0.30)	485	-1%
ESLR	ESLR – Evergreen Solar, Inc.	6/13/2007	$     8.82	9/9/2008	$     7.00	$   (1.82)	454	-21%
FSLR	FSLR – First Solar Inc.	6/13/2007	$    73.75	10/3/2008	$  160.00	$  86.25	478	117%
HOKU	HOKU – Hoku Scientific Inc.	6/13/2007	$     4.50	10/9/2008	$     4.00	$   (0.50)	484	-11%
ICPR	ICPR – ICP Solar Technologies, Inc.	6/13/2007	$     3.05	12/28/2007	$     1.00	$   (2.05)	198	-67%
JASO	JASO – JA Solar Holdings, Co., Ltd.	6/13/2007	$     8.34	9/10/2008	$    12.00	$    3.66	455	44%
LDK	LDK – LDK Solar Co., Ltd.	6/13/2007	$    23.43	10/6/2008	$    25.00	$    1.57	481	7%
RSOL	RSOL – Real Goods Solar, Inc.	7/8/2008	$     6.00	9/9/2008	$     5.50	$   (0.76)	63	-13%
SOL	SOL – ReneSola Ltd.	7/10/2008	$    13.45	9/11/2008	$    12.00	$   (1.45)	63	-11%
SOLF	SOLF – Solarfun Power Holdings Co., Ltd.	6/13/2007	$     8.46	9/29/2008	$    10.00	$    1.54	474	18%
SPIR	SPIR – Spire Corp.	9/13/2007	$    10.00	7/14/2008	$    10.00	$       -	305	0%
SPWR	SPWR – SunPower Corp.	6/13/2007	$    53.75	10/8/2008	$    50.00	$   (3.75)	483	-7%
STP	STP – Suntech Power Holdings Co. Ltd.	6/13/2007	$    32.00	10/2/2008	$    30.00	$   (2.00)	477	-6%
TSL	TSL – Trina Solar Ltd.	6/13/2007	$    39.94	9/9/2008	$    25.00	$ (14.94)	454	-37%
WFR	WFR – MEMC Electronic Materials	6/13/2007	$    57.28	7/10/2008	$    50.00	$   (7.28)	393	-13%
WWAT	WWAT – WorldWater & Solar Technologies	3/19/2008	$     1.00	6/2/2008	$     0.70	$   (0.30)	75	-30%
YGE	YGE – Yingli Green Energy Holding Co. Ltd.	11/29/2007	$    27.26	2/20/2008	$    18.00	$   (9.26)	83	-34%
	Average					$    1.80	345	-5%

WorldWater & Solar Technologies and ENTECH to Exhibit at Solar Power International 2008

Thursday October 9, 7:00 am ET

EWING, N.J.–(BUSINESS WIRE)–WorldWater & Solar Technologies Corp. (WWAT.OB), developer and marketer of proprietary high-power solar systems, today announced that the Company will be exhibiting at the 2008 Solar Power International Trade Show and Conference, October 13-16 in San Diego, CA. By participating in this event, WorldWater will introduce ENTECH’s solar concentrator technology to the U.S. market. ENTECH, Inc. is a subsidiary of WorldWater.

The company will display its ENTECH concentrator photovoltaic (CPV) technology, which can supply safe and reliable solar electric power as well as combined solar electric and solar thermal (PVT) energy. ENTECH has over 20 years of proven field experience, and a full-scale model ENTECH solar concentrator module will be on display at the trade show booth.

ENTECH’s CPV solar electric capabilities are particularly attractive for utility-scale developers given the technology’s ability to scale in size. ENTECH’s combined PVT solar electric and thermal applications can provide a fixed price energy hedge as well as cost containment for both grid-supplied electricity and natural gas at food processing plants, hotels, amusement parks, hospitals, pulp and paper processing plants, and other large retail “behind the meter” users of water and electricity.

Product lines for commercialization are now being developed at ENTECH’s new solar manufacturing facility in Fort Worth, Texas. The 70,000 square foot operation has a planned capacity of up to 200 Megawatts of production. ENTECH has been designing, developing and installing solar concentrator technology for almost three decades, and its superior optics, including the patented, arched Fresnel lens, was originally designed for use by the NASA space program.

Billed as America’s largest solar event, the Solar Power International Trade Show was created through a partnership between the Solar Electric Power Association (SEPA) and the Solar Energy Industries Association (SEIA) in 2004. Founded as a business-to-business solar conference and expo, Solar Power International has established itself as the premiere solar event in the United States. Last year over 12,000 people attended this event, with 15,000 attendees projected for 2008.

The Worldwater/ENTECH booth will be located at exhibit space #1239.

Nation’s Most Visible Solar Array Dedicated at Denver International Airport

Tuesday August 19, 11:45 am ET

Denver Mayor John Hickenlooper Joins with Project Partners – MMA Renewable Ventures, WorldWater & Solar Technologies and Sharp – to Celebrate Solar Electric System Generating Clean Power at Fifth Busiest U.S. Airport

DENVER, Aug. 19 /PRNewswire-FirstCall/ — Today, a two megawatt (MW) solar energy system was dedicated at Denver International Airport (DIA). The solar photovoltaic system, spanning seven and a half acres at the airport’s entrance, will generate over three million kilowatt hours (kWh) of clean electricity annually, demonstrating Denver’s commitment to environmental sustainability by reducing carbon emissions into the atmosphere by more than 6.3 million pounds each year.

Celebrating the system’s dedication was Denver Mayor John Hickenlooper, together with the following executives and dignitaries: DIA Aviation Manager Kim Day; Dick Kelly, chairman, president and CEO of Xcel Energy; MMA Renewable Ventures CEO Matt Cheney; Frank Smith, CEO, WorldWater & Solar Technologies Corp.; and Ron Kenedi, vice president of Sharp Solar Energy Solutions Group.

MMA Renewable Ventures, a subsidiary of Municipal Mortgage & Equity, LLC “MuniMae” which financed, owns and operates the two megawatt system, joined with WorldWater (WWAT.OB ) and Denver International Airport to develop an innovative public-private partnership, leveraging tax credits and incentives to finance this landmark solar power system. This partnership enabled the City of Denver and Denver International Airport to deploy this solar array under a long-term contract or Power Purchase Agreement (PPA). Designed and installed by WorldWater, using more than 9,200 Sharp solar panels, the new ground-mounted photovoltaic solar arrays employ a single-axis tracking system that follows the sun during the day for greater efficiency and energy production.

WorldWater & Solar Technologies Announces Second Quarter Results

Monday August 18, 8:00 am ET

Posts Revenue of $7.6 Million; ENTECH on Track

EWING, N.J.–(BUSINESS WIRE)–WorldWater & Solar Technologies Corp. (WWAT.OB), developer and marketer of proprietary large-scale solar systems, today announced results for the second quarter and six months ended June 30, 2008.

Financial Highlights:

* Revenue for the second quarter was $7.6 million, compared with $2.2 million reported in the second quarter of 2007. The increase in revenue was driven by the Company’s project at Denver International Airport and the recently-dedicated installation at Fresno International Airport.
* The Company recorded a gross loss for the quarter of $2.9 million, versus a gross profit of $0.3 million in the prior-year quarter. The gross loss in 2008 was primarily the result of additional loss provisions recorded on the Fresno and Denver airport projects, along with a loss provision of approximately $2.2 million related to the solar installation project for the Valley Center Municipal Water District in California that was formally awarded on June 30, 2008. In accordance with generally accepted accounting principles, the total estimated loss for Valley Center was recorded even though no revenue was recognized during the second quarter.
* Operating expenses were $5.6 million in the second quarter, versus $3.1 million in 2007. The major contributors to the $2.5 million increase were salaries and benefits related to higher headcount, professional fees attributable to Sarbanes-Oxley, and amortization and depreciation expense related to the acquisition of ENTECH and the move to new facilities in New Jersey.
* The Company’s net loss attributable to common shareholders for the second quarter of 2008 was $24 million, or $(0.12) per share, compared with a loss of $2.8 million, or $(0.02) per share, in the second quarter of 2007. The 2008 results include a non-operating charge of $15.5 million which represents the non-cash expense associated with conversion of the Quercus Trust’s Series F Convertible Preferred Stock into common stock.

“WorldWater & Solar Technologies continued to show improvement in its core operations this quarter, even as we posted a loss related to contracts bid in the past several years,” said Frank Smith, CEO. “The Valley Center project was revamped and renegotiated based upon our experience with Denver and Fresno, but we still anticipate a loss on this installation. Given the strategic importance of the California municipal water market and our investment in preparing for this project, we felt it was appropriate to proceed even with the expected poor return. These quarterly results are obviously unacceptable, and the Company continues to focus on improving its project management and cost estimating capabilities.

Fresno Yosemite International Airport and WorldWater & Solar Technologies Host Dedication Ceremony to Showcase the Largest Solar Airport Installation in the Nation

Wednesday July 16, 8:00 am ET

FRESNO, Calif.–(BUSINESS WIRE)–Fresno Yosemite International Airport (FYI), the major air transportation center for the City of Fresno and the San Joaquin Valley, along with WorldWater & Solar Technologies Corp. (WWAT.OB), developer and marketer of proprietary high-power solar systems, announced that a dedication ceremony will be held today, July 16, in celebration of the opening of the largest solar airport installation to date in the U.S. Representatives of the Office of the Governor and Fresno Mayor Alan Autry are scheduled to attend, among other dignitaries.

“The solar system will provide an impressive 40% of the power supply required to run the day to day needs of the airport such as lighting, air conditioning, controls and tower communications,” says Russ Widmar, Fresno Aviation Director. “Using renewable solar energy will decrease overhead costs and improve the financial performance of our operations. In addition, the solar installation has been constructed on land located near our runways that up until now was unusable. We hope that other airports will follow our lead by turning to solar power.”

Speakers at the event will include a member of the Office of the Governor; Fresno Mayor Alan Autry; Russ Widmar, Fresno Aviation Director; Frank Smith, CEO, WorldWater & Solar Technologies; and Greg Pruett, Senior VP of Corporate Relations, PG&E. The Mayor of Fresno will present a proclamation to the airport and PG&E will issue a ceremonial rebate check for the installation.

“This event is a milestone marking the increased popularity of solar as a viable source of alternative energy, particularly now as the cost for fuel and electricity continues to rise to unprecedented levels,” says Frank Smith, CEO, WorldWater & Solar Technologies. “We provided Fresno with a 2-megawatt, ground-mounted solar system spanning 9.5 acres, or the equivalent of seven football fields. The project is expected to save the airport about $13 million dollars over the next 20 years.”

Partners in this project include Sharp Solar, which supplied the panels for the project, Xantrex Technology Inc., which provided the inverters, and Solar Power Partners of Mill Valley, CA which will operate and manage the system and will oversee the sale of the solar generated power to the airport through a long-term Power Purchase Agreement, or PPA. The PPA financing structure has enabled the airport to embrace solar energy without any capital expense. In addition, PG&E, the local electric utility, will manage the net-metering connection with the grid. PG&E is also the administrator of the California Public Utility Commission (CPUC) incentive program.

WorldWater & Solar Technologies Announces Start of Work at Ocean City

Monday July 14, 8:45 am ET

EWING, N.J.–(BUSINESS WIRE)–WorldWater & Solar Technologies Corp. (WWAT), developer and marketer of proprietary high-power solar systems, today announced that it has begun work on several solar installations for Ocean City. The systems, consisting of roof mounts on the Cultural Arts and Community Center, the new Public Works Complex building, the Vehicle Maintenance Center, the Sports and Civic Center and the Firehouse, are anticipated to produce nearly 550,000 kilowatt-hours of energy in their first year. Project completion is expected by the fourth quarter of 2008.

“As announced earlier, Ocean City will take a leap forward in its efforts to harness the power of the sun through our proven roof-mounted systems,” said Frank Smith, CEO. “The 15 year contract provides the city with lower-cost energy at a time when oil prices remain at record highs. As a leader in providing solar energy in our home state of New Jersey, where Governor Corzine recently unveiled his draft Energy Master Plan, we are pleased to see this project get underway.”

WorldWater & Solar Technologies Announces Update on 1.2 MW Valley Center Contract

Tuesday July 8, 8:02 am ET

EWING, N.J.–(BUSINESS WIRE)–WorldWater & Solar Technologies Corp. (WWAT.OB), developer and marketer of proprietary high-power solar systems, today announced that it has concluded all engineering, planning, regulatory, environmental and contractual negotiations with regard to the 1.2 MW project first announced last August for the Valley Center Municipal Water District (VCMWD) of Valley Center, California. Ground-breaking is expected occur in the coming weeks. The system will provide electricity for the district and is being developed by Solar Power Partners of Mill Valley, California, which will operate it under a 25-year Power Purchase Agreement (PPA). The project is worth approximately $7.5 million, with completion scheduled for later this year.

“We are very pleased to announce that the Valley Center Municipal Water District is now ready to move forward on an expedited basis,” stated Frank Smith, CEO of WorldWater. “Having resolved all remaining technical and financial issues, we have come to an agreement that makes sense for all parties involved – one that leverages our expertise in large solar installations and will provide the district with efficient, renewable solar power for decades to come. Our experience with both the Fresno and Denver airports helped refine our approach to this project, and we expect to announce ground-breaking within weeks.”

Stop Loss Limits Moved Higher

We won’t let a horrible market sink this great portfolio. Stay with strength as the industry sorts itself out.

Symbol	Company Name	Entry Date	Entry Price	Stop Loss	Last Price	P/L $	Days	P/L %
AKNS	AKNS – Akeena Solar, Inc.	6/13/2007	$     3.62	$    3.50	$     5.23	$    1.61	385	44%
AMAT	AMAT – Applied Materials, Inc.	6/13/2007	$    18.94	$   16.00	$    19.28	$    0.34	385	2%
ASTI	ASTI – Ascent Solar Technologies, Inc.	6/13/2007	$     7.30	$    7.00	$     9.98	$    2.68	385	37%
CSIQ	CSIQ – Canadian Solar Inc.	6/13/2007	$     9.71	$   16.00	$    36.36	$  26.65	385	274%
CSUN	CSUN – China Sunergy Co. Ltd.	6/13/2007	$    11.02	$    8.00	$     7.64	$   (3.02)	385	-27%
DSTI	DSTI – DayStar Technologies, Inc.	6/13/2007	$     5.13	$    3.00	$     4.29	$   (0.84)	385	-16%
EMKR	EMKR – EMCORE Corp.	1/18/2008	$    10.49	$    7.00	$     5.58	$   (3.49)	166	-33%
ENER	ENER – Energy Conversion Devices, Inc.	6/13/2007	$    30.30	$   30.00	$    68.20	$  37.90	385	125%
ESLR	ESLR – Evergreen Solar, Inc.	6/13/2007	$     8.82	$    7.00	$     9.47	$    0.65	385	7%
FSLR	FSLR – First Solar Inc.	6/13/2007	$    73.75	$ 160.00	$  270.68	$ 196.93	385	267%
HOKU	HOKU – Hoku Scientific Inc.	6/13/2007	$     4.50	$    4.00	$     4.75	$    0.25	385	6%
ICPR	ICPR – ICP Solar Technologies, Inc.	6/13/2007	$     3.05	$    1.00	$     0.60	$   (2.05)	385	-67%
JASO	JASO – JA Solar Holdings, Co., Ltd.	6/13/2007	$     8.34	$   12.00	$    15.79	$    7.45	385	89%
LDK	LDK – LDK Solar Co., Ltd.	6/13/2007	$    23.43	$   25.00	$    34.99	$  11.56	385	49%
SOLF	SOLF – Solarfun Power Holdings Co., Ltd.	6/13/2007	$     8.46	$   10.00	$    16.14	$    7.68	385	91%
SPIR	SPIR – Spire Corp.	9/13/2007	$    10.00	$   10.00	$    12.14	$    2.14	293	21%
SPWR	SPWR – SunPower Corp.	6/13/2007	$    53.75	$   50.00	$    66.65	$  12.90	385	24%
STP	STP – Suntech Power Holdings Co. Ltd.	6/13/2007	$    32.00	$   30.00	$    34.41	$    2.41	385	8%
TSL	TSL – Trina Solar Ltd.	6/13/2007	$    39.94	$   25.00	$    29.28	$ (10.66)	385	-27%
WFR	WFR – MEMC Electronic Materials	6/13/2007	$    57.28	$   50.00	$    59.64	$    2.36	385	4%
WWAT	WWAT – WorldWater & Solar Technologies	3/19/2008	$     1.00	$    0.70	$     0.67	$   (0.30)	105	-30%
YGE	YGE – Yingli Green Energy Holding Co. Ltd.	11/29/2007	$    27.26	$   18.00	$    14.92	$   (9.26)	216	-34%
	Average					$  12.90	350	37%