Direct Global Forms Subsidiary

NISKAYUNA, N.Y., Aug. 10 -- Direct Global Power, a renewable energy company, has formed a subsidiary, Prism Solar Technologies Inc. (PST), in a joint venture with the inventors of holographic photovoltaic (PV) technology that can reduce the amount of solar cells required in a PV module.

Direct Global has joined forces with Genesis Solar LLC of Tucson, Ariz., to manufacture a new solar module that incorporates its patented holographic planar concentrator (HPC) technology. PST has secured seed financing, is working on second-generation prototypes and expects to begin manufacturing in 2006. Direct Global's president, Rick Lewandowski, will serve as PST's president and CEO.

HPC is a module technology that is "cell-neutral" and can spectrally select the desired portion of sunlight allowing for "cooler" solar cell operation while maintaining an increased power output by concentrating specific solar wavelengths into the cells. Through passive tracking, HPC products can achieve higher output in the morning and late afternoon while reducing the amount of silicon necessary in a module. The technology, initially developed by Genesis Solar principals working with a specialty glass and curtain-wall manufacturer, has the potential to lower the price of photovoltaic modules and improve aesthetic characteristics.

PST also intends to use the technology with bifacial cells that could create additional price reductions by utilizing the backside of solar cells. PST will also work with the Illinois Institute of Technology on its advanced optics technology.

For more information, visit: www.directglobalpower.com