June 18, 2007 08:04 ET

Avista Chooses GreenVolts for Utility Scale Solar Trial

GreenVolts Tapped by Utility for Superior Technology, Complete Systems Approach, and Its Potential to Deliver Green Energy Through the Existing Power Grid

SAN FRANCISCO, CA--(Marketwire - June 18, 2007) - GreenVolts (www.greenvolts.com), a leader in helping utilities deliver green energy to their customers, today announced that it has been chosen by Pacific Northwest utility, Avista, for a demonstration project to test the company's utility-scale solar energy solution. The company also announced that Avista has made a strategic investment in GreenVolts for an undisclosed amount.

Beginning this summer, GreenVolts will site its high concentration photovoltaic (HCPV) system at Avista's Clean Energy Test Site. The demonstration project will record performance data over two years and is expected to produce test data validating long-term system performance and costs.

"Avista is committed to supporting the advancement of sustainable energy technology. GreenVolts provides an important pathway for us to learn how to apply new technologies and bring more renewable energy to the grid," said Roger Woodworth, vice president of Sustainable Energy Solutions at Avista. "The solar technology being developed by GreenVolts could become part of our future renewable energy portfolio; that is why we are taking an aggressive first step by investing in the potential of the GreenVolts solution here in the Pacific Northwest."

GreenVolts is a solar power company providing affordable, clean energy alternatives for utility companies. The company's patent-pending technology produces a superior photovoltaic collector that, when coupled with a tracking mechanism, is expected to deliver energy at a cost that is competitive with peak natural gas alternatives. The size and flexibility of the company's system allow it to be placed nearer to the demand than other alternatives, helping utility companies avoid constructing costly transmission lines or having to upgrade existing power grids.

"We believe the future is one in which consumers will gain access to green energy by plugging into the grid instead of going off of it," said Bob Cart, CEO and founder of GreenVolts. "In order for this to become a reality, utilities must have access to a price competitive solar energy source that can also be located close to the demand -- making HCPV solar energy both the intellectual and economical choice for utilities."

The core of the company's solution is a low profile platform that tracks the sun as it moves across the sky. This 3kW platform is known as a CarouSol and uses low cost mirrors to concentrate 625 suns of energy onto a 40 percent efficient solar cell. The technology uses less than one-thousandth of the solar cell material of conventional solar panels, and the entire system is optimized for the lowest cost of energy. Other features of the CarouSol include:

--  No shading, off-axis optics
--  Low profile, self-leveling two-axis tracking
--  Automated storm stowing
--  Automated cleaning
--  Passive cooling
--  Scalable manufacturing
--  Rapid delivery and simple installation
--  1-20MW distributed generation
    

GreenVolts delivers its energy directly to utilities near the load to avoid the cost, losses and delays of transmission. The company's complete systems approach also dramatically lowers the cost of solar energy for utilities.

"Of all the renewable energy resources, solar presents the greatest opportunity for widespread utility-scale adoption," continued Cart. "Within the realm of solar technologies, only GreenVolts' HCPV technology allows for easy, economical adoption of utility-scale power solutions. Now, for the first time, utilities can harness a renewable energy source in a way that eliminates the need for costly grid upgrades and at a price that rivals the peak energy cost of natural gas-fired plants."

In addition to the Avista investment, GreenVolts has raised more than $1.5 million in seed money and expects to seek a venture round of funding later this year.

About GreenVolts

GreenVolts is a solar power company that supplies massive amounts of efficient energy to utility companies so that they can provide green energy to their end customers economically and with only a flick of the switch. Solar power is the best possible utility-scale solution because it can be forecast with reliability and because it shines brightest when it's needed most -- during the daytime peak hours. GreenVolts' HCPV technology is more efficient than any other photovoltaic solution on the market and its ability to be located near to the load makes it more desirable than other solar technologies because it eliminates the need for utility grid upgrades. The company is based in San Francisco.

About Avista Corp.

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is a company operating division that provides service to 346,000 electric and 306,000 natural gas customers in three western states. Avista's non-regulated subsidiaries include Advantage IQ and Avista Energy. Avista Corp.'s stock is traded under the ticker symbol "AVA." For more information about Avista, please visit www.avistacorp.com.

Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation. All other trademarks mentioned in this document are the property of their respective owners.

This news release contains forward-looking statements regarding the company's current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2006, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2007.