The second annual Stelios Award for the Young Clean-tech Entrepreneur of the Year was presented in Monaco on 4 March 2011 at the prestigious Clean Equity Monaco 2011 conference, which brings together emerging clean-tech companies from across the world and provides exposure to top-level delegates from the investment, political, industry & media communities.  6 Next Wave companies – pre-revenue, clean-tech companies seeking initial funding – presented compelling cases and responded to grueling questions from Stelios and the audience.

Commenting on the awards, Sir Stelios said:

“I feel very proud to be associated with this Award. Climate change – and its effects – is one of the world’s most pressing problems. I think entrepreneurs will have a big role to play in finding the solutions that will enable all of us to reduce our impact on the environment.  I wish Solar Press the best success!”

The award is a part of the Stelios Philanthropic Foundation’s commitment to entrepreneurship and the environment. Combined with education, these make up the three ‘e’s at the heart of the Foundation’s work.

Media enquiries

• Please contact Eleni Menikou at Citigate Dewe Rogerson Ltd. – tel.+44 20 72 82 10 86, email eleni.menikou@citigatedr.co.uk
• For further information on the Stelios Philanthropic Foundation, please contact Marie-Louise Bang  - +33 643912740, email mlb@stelios.com
• For more about Clean Equity Monaco, contact Tom Faggionato – tel. +44 20 72 97 68 40, email tom.faggionato@innovator–‐capital.com
• Solar Press, Jonathan Halls (CTO): jonathan.halls@solar-press.com

Photovoltaics, the direct conversion of light into electricity, is the only renewable energy technology with the capacity to fulfil the world’s long-term electricity needs. The obstacle in fulfilling this promise is the high capital cost of installing and producing photovoltaic power, using currently available technologies.  Less than one percent of the world’s photovoltaic production capacity is currently installed in the world’s underdeveloped regions where it is needed the most.  Even in industrialised affluent economies, photovoltaics has required government subsidies to become economically viable.  Solar Press’s innovations in photovoltaic module design and processing techniques will make solar electricity products affordable in all markets without the need for subsidies.

“Our module designs and processing technology make use of readily available industrial infrastructure that does not require massive capital investment and long payback periods.  In addition, no scarce minerals are needed.  As a result, we can offer solar modules at prices which are affordable everywhere.  Our first target is integrating solar power into off-grid applications for the billions of people who do not have any access to or lack reliable grid electricity”, explains the founder CEO Omar Cheema. These breakthroughs in ultra low-cost photovoltaic modules are being driven by CTO Jonathan Halls and the company’s product development team, out of its custom-built facility in London.  A key advantage is the manufacturing flexibility in scaling and tailoring the module designs for various applications.

The company has been seed funded by and created with the strategic support of Carbon Trust Enterprises Ltd.  An international group of scientific innovators, with world-leading R & D capabilities, is strengthening the company’s product development roadmap with new technology innovations.