U.S. Department of Energy Announces up to $62 Million for Concentrating Solar Power Research

Award Recipients Include eSolar, Inc. and Suntrough Energy

Los Angeles – Wednesday, May 12, 2010 – U.S. Department of Energy announced today the selection of projects for investment of up to $62 million over five years to research, develop, and demonstrate Concentrating Solar Power (CSP) technologies. The funding will support improvements in CSP systems, components, and thermal energy storage.

"Developing low-cost, renewable energy generation is crucial to meeting our nation's increasing demands for electricity," said Secretary Chu. "By investing in the development of low-cost solar technologies we can create new jobs and pave the way towards a clean-energy future."

CSP technologies generate power by concentrating the energy of the sun and using the heat to run a turbine that produces electrical power. The award was granted to thirteen projects under two categories. Among the recipients of the award are eSolar Inc. (for up to $10.8 million) and Suntrough Energy (for up to $4.5 million).

"Among the advantages of CSP systems is that they can easily be modified to work as a hybrid plant generating power from the sun while it's shining and from fossil fuels when there is no direct sunlight," said Nima Montazeri, Floyd Associates' Managing Director. "We see great promise in CSP systems that have been developed in the past few years and we anticipate that a large segment of tomorrow's clean energy will be generated by these systems," he added.

To read Floyd Associates' recent report on the CSP sector please go to: http://www.floyd-associates.com/solar2.pdf.

To read more about Floyd Associates please visit www.floyd-associates.com. You can contact us by email at info@floyd-associates.com or by phone at: +1 (310) 300-0890.

About Floyd Associates

Floyd Associates is a privately held consulting firm with expertise in strategic development, investment banking, and mergers and acquisitions. Our expert team advises companies of various sizes on international expansion strategies, optimal capital structures, and formation of strategic alliances. Floyd Associates Dubai is responsible for offering strategic development advice to companies interested in exploring opportunities in the rapidly growing markets of the Middle East. In addition to helping companies gain access to markets and sources of capital in the Middle East, the Company advises clients on how to obtain a listing on NASDAQ Dubai as well as matters related to compliance with the Shariah Law.

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Source: Floyd Associates