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Phoenix Solar Announces Formation of North American Leadership Team

Phoenix Solar AG (www.phoenixsolar.com) previously announced its entry into the North American market with Phoenix Solar Inc. (www.phoenixsolar.us) in August 2010. The Company's North American headquarters is located at the Bishop Ranch office park in San Ramon, California. Paul J. Caudill, with over 30 years of power generation and renewable energy industry experience, was appointed by the Board of Directors to serve as Chief Executive Officer and President. Mr. Caudill comes to Phoenix Solar from a leading global solar industry company, where he served as head of Global Operations.

Stated Mr. Caudill, "Phoenix Solar is fortunate to have been able to attract a world-class North American leadership team with a keen understanding of what it takes to design, finance, construct, operate and maintain commercial and large-scale PV power plants. The team shares a consensus view that our business success will almost entirely be determined by how we meet the needs of each and every customer for our solar power plant services."

Mr. Caudill continued, "Because we don't manufacture solar cells or modules, we are technology-neutral. Our team's goal in North America, as it has been for over 11 years on a global scale, is to meet the unique design, budget and technical requirements of each of our customers by providing solar power plants with the optimum price-to-performance ratio."

Phoenix Solar's North American leadership team includes:

    --  Paul J. Caudill, Chief Executive Officer & President, is a proven senior
        executive with leadership experience in conventional utility-scale power
        generation, transmission, and distribution. A significant portion of his
        professional training and work experience is founded in the U.S.
        commercial nuclear power generation business. Paul began his career in
        project management and project controls with Bechtel Power Corporation,
        one of the world's most successful engineering, procurement and
        construction companies.  He holds a Master's degree in Business
        Administration from Northwestern University's Kellogg School of
        Management and a Bachelor's degree in Business and Public Management
        from the University of Arizona.
    --  Peter Beucke, Chief Operating Officer, is a licensed architect, real
        estate broker and contractor with over 25 years of design, engineering,
        and construction experience.  Prior to joining Phoenix Solar, he served
        as the Director of Global Design Engineering for a solar industry
        leader.  In this role, Mr. Beucke was deeply involved in the design and
        construction of some of the world's largest roof and ground-mounted
        solar plants in the U.S. and Europe.  Mr. Beucke has previous experience
        as Senior Vice President for the San Francisco Bay Area division of
        Lennar Homes, one of the nation's largest homebuilders.  He holds a
        Bachelor's of Science degree in Design from Arizona State University's
        College of Architecture.
    --  Bryan Meier, Chief Financial Officer, joins Phoenix Solar from Verasun
        Energy Corp., where he served as Vice President of Finance and then
        Chief Financial Officer.  Bryan has previous experience as Vice
        President and Corporate Controller at ViaSystems Group, Inc., a leading
        provider of complex multi-layer printed circuit boards (PCBs) and
        Electro-Mechanical Solutions to OEMs. Over the course of his 23-year
        career in finance, Mr. Meier has also held senior financial management
        positions at several other firms and started his career at accounting
        firm Arthur Andersen.  Bryan is a Certified Public Accountant  and holds
        a Bachelor's degree in Business Administration, Accounting and Finance
        from the University of Missouri in St. Louis.
    --  Arra Yerganian, Chief Sales Officer, brings broad senior management
        experience to Phoenix Solar, having held key leadership roles in sales,
        marketing and general management at a range of customer-focused
        companies. Over the course of his 25-year career, Mr. Yerganian has
        served in senior sales and marketing roles at Procter & Gamble, Dial
        Corp., and Infogrames Entertainment (Atari). He was a senior executive
        at two of the nation's largest homebuilders and President of both a
        business marketing solutions firm and a web-based consumer marketplace.
        Arra received a Bachelor's of Science degree in International Marketing
        & Operations Management from Boston University, and upon graduation
        earned the Scarlet Key distinction for academic excellence and campus
        leadership.  He completed an Executive Education Program in Strategic
        Marketing Management at Harvard Business School.
    --  Les A. Lifter, Chief Marketing Officer, brings over 22 years of
        corporate and brand marketing expertise to Phoenix Solar Inc. Prior to
        joining Phoenix Solar, he was Vice President, Strategic Marketing for
        Lennar, one of the nation's largest public homebuilders, overseeing
        marketing and sales efforts for the company's residential solar
        initiatives.  Les has leveraged his strong customer-focused approach
        while leading marketing efforts for small, mid-sized and large
        organizations, holding key marketing and leadership positions with
        Unilever, Hasbro and AutoZone. Les holds a Master's degree in Business
        Administration in Marketing & International Business from New York
        University's Leonard N. Stern School of Business and a Bachelor's degree
        in Management from Emory University.
    --  Charles "Chip" Pospisil, Vice President, Project Controls, is a
        certified Project Management Professional (PMP) and has served as
        project manager and project control specialist on dozens of successful
        large-scale projects in the energy field.  Chip has actively managed
        large-scale Engineering, Procurement and Construction (EPC) projects,
        enterprise project management solution implementations, information
        technology initiatives and company start-ups. Chip draws on over 30
        years of experience to design and implement cost control and risk
        management solutions for project portfolios. Chip received a Bachelor's
        of Science degree in Civil Engineering from the University of
        Connecticut.
    --  Nick de Vries, Vice President, Plant Operations & Engineering, has over
        15 years of solar energy, semiconductor and military experience. He
        comes to Phoenix Solar from Applied Materials, a technology leader in
        both the solar and semiconductor industries. With Applied Materials,
        Nick served as Director of Field Operations in the Solar Business
        Division, where he was involved in the design, construction and
        operation of the company's first thin-film solar factories.  Prior to
        Applied Materials, Nick was an Infantry Captain in the United States
        Army and served in active duty in Kuwait and Bosnia-Herzegovina.  Nick
        graduated from Lehigh University with a Bachelor's of Science degree in
        Mechanical Engineering. He holds two patents related to photovoltaic
        technology and one patent related to semiconductor technology.

Commenting on the North American market opportunity, Mr. Caudill said, "We are in the enviable position of being able to leverage Phoenix Solar's well-established international reputation, proven project engineering expertise and proprietary operations and maintenance technology for the benefit of solar customers operating in the U.S. and Canada."

About Phoenix Solar

Phoenix Solar is a global leader in the design, construction, operation and maintenance of solar photovoltaic power plants. The company's technology-neutral approach allows us to objectively provide the best solar solutions for our customers. Phoenix Solar Inc. is a wholly-owned subsidiary of Phoenix Solar AG (www.phoenixsolar.com), headquartered in Sulzemoos, Germany. For more information, please visit www.phoenixsolar.us or call 925-659-3700.

    U.S. media contact:     Investor contact:         Non-U.S. Media  contact:
    Bruce Entin             Anka Leiner               Andrea Wegner
    Phoenix Solar Inc.      Phoenix Solar AG          Phoenix Solar AG
    b.entin@phoenixsolar.us a.leiner@phoenixsolar.de  a.wegner@phoenixsolar.de
                                                       Tel.: +49 (0)8135 938
    Direct: 925-659-3715    Tel.: +49 (0)8135 938-315  -313

SOURCE Phoenix Solar