Latest Efficiency Gains in Large Area Flexible PV Modules Set New Industry Benchmark

Beijing, July 15, 2019 - The world's largest thin-film power solution company, Hanergy Thin Film Power Group (00566.hk), today announced that Fraunhofer Institute for Solar Energy Systems, a German based solar energy testing laboratory and one of the world's leading renewable energy research authorities, has rated Hanergy's US-based subsidiary Miasole's large area flexible CIGS module as the world's most efficient.

The Fraunhofer Institute for Solar Energy Systems ISE has independently confirmed a 17.44 percent aperture area efficiency on a commercial size flexible PV module (aperture area 1.08m2). This achievement was recognized as a new certified record large area CIGS module in the latest Progress in Photovoltaics compendium of PV records (Prog Photovolt Res Appl. 2019;27:565-575)

The cells and record module were made using the MiaSolé production lines in Santa Clara, CA. MiaSolé's cell manufacturing process deposits CIGS on a flexible substrate using high speed physical vapor deposition (PVD) that produces high efficiency solar cells in a continuous and high throughput process.

"This achievement is the result of our targeted focus in research and development to increase conversion efficiency and to provide durable, high power, flexible and lightweight products," said Atiye Bayman, CTO of MiaSolé. "We will continue to lead the industry by providing innovative and powerful products that enable new applications for solar power."

MiaSolé's proprietary PV technology is creating new and compelling opportunities for their customers by bringing high efficiencies to flexible and lightweight applications. Companies in the building, vehicle, and mobile PV markets that were previously unable to realize the potential of solar, can now explore new and innovative applications for high efficiency, flexible solar panels.

About Hanergy Thin Film Power Group Ltd (http://en.hanergy.com/)

Hanergy Thin Film Power Group Ltd is a world's leading clean energy company, and a subsidiary of Hanergy Mobile Energy Group Company Ltd. Hanergy Thin Film Power Group Ltd is committed to "Building Mobile Energy". Since 2009, Hanergy has been working relentlessly to integrate worldwide solar technologies, and making a robust investment in research and innovation in the field of thin-film solar power. Thin film solar technologies have been applied to a series of commercial and non-commercial products, including HanTile, HanWall, Humbrella, HanPack and HanPower.

About MiaSolé (www.MiaSole.com)

MiaSolé is a producer of lightweight, flexible, shatterproof and powerful solar cells and cell manufacturing equipment. The innovative solar cell is based on the highest efficiency thin film technology available today, and its flexible cell architecture makes it ideal for a wide variety of solutions ranging from commercial roofing solar modules to flexible mobile energy devices. MiaSolé's turnkey CIGS equipment lines, CIGS process equipment technology, proprietary CIG target manufacturing, R&D product development support and spare parts allow customers to produce their own high-efficiency cells and solar products. Founded in 2004, MiaSolé has evolved into the world leader in thin-film solar module efficiency. For more information on MiaSolé, please visit www.miasole.com.