Nanosolar Appoints Chief Financial Officer

Hitachi Top Executive Joins Nanosolar

McNicholas joins Nanosolar from Hitachi Global Storage Technologies where he was the top finance executive of the $5 billion hard disk drive business. Prior to Hitachi, McNicholas held a distinguished succession of financial positions at IBM over a period of 22 years, including serving as the top finance executive of four IBM business units. For the IBM PC company’s manufacturing & development operations, McNicholas managed the worldwide financial operations of 12 manufacturing plants and two labs. As the controller of IBM’s Consumer Division, McNicholas redirected business from the retail channel to direct fulfillment. In 1999, McNicholas was called upon to become the top finance executive of IBM's Storage Systems Division where he established best-of-breed global operational management for 13 manufacturing facilities and four R&D facilities worldwide. McNicholas holds an M.S. degree in Management from Stanford University and a B.S.in Finance from Drexel University, and also served on the board of directors of Hitachi's storage companies in China and the Philippines.

“Jim’s world-class experience with best finance practices in global volume manufacturing will be instrumental in helping us build a strong business,” said Martin Roscheisen, CEO of Nanosolar, adding: “We are thrilled to have Jim on our team.”

In addition, the company announced that Doug Norby is working with Nanosolar as an executive and board advisor.

Doug Norby was retained as an executive and board advisor. Norby has been vice president and CFO of some of technology's most admired companies including LSI Logic, Mentor Graphics, and Syntex Corporation. Norby is a director of LSI Logic Corporation, Alexion Pharmaceuticals Inc., and Jazz Semiconductor Inc., among others. From 1985-1992, he served as President and Chief Operating Officer of Lucasfilm Ltd. Norby received his B.A. in Economics from Harvard University and M.B.A. from Harvard Business School.

“Doug has already helped us recruit the very best CFO; we are looking forward to continuing to receive his experienced guidance,” noted Roscheisen.

About Nanosolar

Nanosolar is a global leader in solar power innovation. Nanosolar's solar electricity panels deliver unparalleled cost efficiency, enabling customers to use green power without paying more. More information on Nanosolar is available on the Internet at www.nanosolar.com.