Innovative PV Technology for Grid

Connected Power Stations BIPV, Sales and

Maintenance of Photovoltaic Thermal
Panels, Applications and Multi Solar
Systems

Executive Summary
December 2006
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Preamble
The aim of this document is to present the business concept and great business potential of
Millennium Electric within the Solar Photovoltaic (PV) international market.

The world PV market was up 62% in 2005, prices of solar PV products are growing
persistently, eager clients all around the world are ready to pay for such products and many
countries provide development and installation grants and loans for PV systems.
In addition, PV Feed-in Tariff and incentive programs which allow revenues from selling
electricity produced by the sun (solar energy) back to the grid, have resulted in a flood of PV
projects and investments of billions of dollars in PV grounded and rooftops projects.

Millennium is a major player in this game. With accumulating pipeline projects of around
$622M USD from the main and the fastest growing markets of the PV industry, Millennium has
great potential to become a main player in this international market within a short period.
Millennium is the owner of the Multi Solar PV/T technology that is an innovative, patented
(PATENT NO. 5522944), Solar PV/Thermal System that makes it possible to convert solar
energy into thermal energy and electric energy at the same time using a single flat
plate collector integrated system.

Mission

Our mission is to become a leading provider of PV panels and systems, and to be the pioneer
of the Multi Solar System in the solar market. The company plans to establish a community
based on power stations that utilize photovoltaic solar energy for creating a clean, green,
economic and safer growing environment using a variety of private, public and industrial
applications.

Strategy

Millennium's business strategy is to create a group of international, interconnected companies

that provide extensive marketing power and networking control.
Millennium focuses on integration and large projects in order to maximize our technologies
and abilities. The company also seeks international tenders submitted in cooperation with our
partners around the world. Millennium manipulates, integrates and pushes the technology to
its limit.
Millennium Electric: Company Profile
Millennium Electric is an Israeli based company with vast experience in the solar energy
industry with representatives in the U.S.A., South America, Australia, Africa and Europe.

The company is a world leader in the field of PV solar technology. The company develops,
produces and sells solar electricity from Photovoltaic (PV) panels, applications, and the Multi
Solar System. Millennium Electric is a unique company with management that has over 24
years of unprecedented experience in the PV Solar Industry, having designed and installed
many international projects in over 40 countries around the world. In addition, the company
owns many international patents, all related to the PV Solar Industry, and ranging from
simple consumer products, to very high tech systems.

Key Management
Eng. Ami Elazari, MBA
Mr. Elazari is the Founder, CEO and President of Millennium
Electric T.O.U. Ltd. He has completed his Executive MBA degree
with excellence, with a specialty in Economics and Marketing. He
is an energy, computer and communications engineer and is also
a renowned world expert on solar energy, and has registered 22
International Patents, most in the solar energy field.
Mr. Elazari has over 30 years of management experience and has
completed large-scale solar projects around the world including in
Somalia, the United States, Italy, Germany and Singapore. He is
involved as partner and coordinator in over eight European Commission projects worldwide.

Mr. Harel Nahmani

Mr. Nahmani is the Operations Manager of the company. He holds a BA in general business
and an MA in International Business with specialty in Entrepreneurship & Innovation. He has
10 years of experience in operation and management of international projects.
Amongst Mr. Nahmani's responsibilities are connections with Millennium's partners around
the world and overseeing operation of the EU R&D projects.

Patents
Millennium owns more then many International patents within the solar energy field. The
most important patent is "Multi-Purpose Solar Energy Conversion System" or as
commercially known: Multi Solar System.

Financials
Millennium is funded by private investors. The company plans to raise money in the stock
exchange in order to expand activities around the world.
Millennium focuses on the countries that subsidize alternative energy sources such as solar
energy, such as Germany, Spain, Italy, Greece, South Korea and the USA.
Millennium's turnover forecast for the year of 2007 is around $34M USD, $76M USD for the
year of 2008 and $88M USD for the year of 2009 (around $200M USD turnover for the next
3 years)
Millennium’s Main Market Activities:
The company is active in five main fields:
1. Production and sale of Solar Photovoltaic (PV) Panels (under the Millennium brand
name), from 10 watts and up to 300 watts;
2. Production and sale of Multi Solar Systems and Collectors PVT (MSS collectors);
3. Planning, construction and maintenance of Solar PV Power stations (turn key
projects) for supplying electricity using solar energy;
4. Planning, production and sale of various solar PV applications for infrastructures,
lighting and more;
5. R&D for the future solar technologies.

1. Production and Sale of Solar Photovoltaic (PV) Panels (under the

Millennium brand name):

Photovoltaic Flat Panel Technology -

The technology for photovoltaic cells, Mono &
Polycrystalline ("solar PV cells"), which directly
converts sunlight to electricity. The average
efficiency of Millennium Panels approaches
15%.
Millennium considers flat PV technology to be
the most attractive market niche, having the
biggest market share and largest annual market.

Millennium's PV panels (Mono &

Polycrystalline)

Millennium sells its solar PV panels in the major

markets today: Germany, Spain, Italy, Greece,
U.K, South Korea and the USA.
Millennium's plans to expand its PV panel
production capacity up to 56MW by year end
2008.
The growth of the international PV solar market
is mainly a result of grid-connected solar PV
programs in a number of countries around the
world: The "Sunshine Program" in Japan
where the capital subsidy started in 1994, but
Germany's Renewable Energy Law – EEG
(since January 2004) was the main reason for
the boom in PV projects and funds. Spain, Italy,
South Korea, Greece and mainly the USA have
come up with attractive Feed-In tariffs
guaranteed for solar photovoltaic power. Signing the $15M USD contract with
Maass Energy - Millennium's main
partner in Germany
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Millennium’s Unique Technology

2. Production and sale of Multi Solar (MSS) PVT Systems and Collectors

The Multi Solar PV/T technology is an

innovative, patented (PATENT NO 5522944)
Solar PV/Thermal System that makes it
possible to convert solar energy into
thermal energy and electric energy at the
same time using a single integrated system.
The Multi Solar System, an innovative device
that collects the visible & infra-red side of the
spectrum, cools the PV cells which generate
electricity and makes the heat available for
thermal control of the building. The MSS
behaves like a "living" skin surrounding the
building, allowing the flow of water/air,
capturing heat and storing it in an insulated
tank, thus making it available for the heat
control of the living environment while the PV
cells that are cooled by water flow in pipes and
air, generates 30% higher PV efficiency
for production of electricity and 70%
additional thermal energy for the same price.

Advantages of the Multi Solar PV/T technology:

The Multi Solar PV/T is one of the most promising technologies in the solar energy industry
and it has many advantages over the use of separate solar thermal and solar photovoltaic
systems available today.
The Multi Solar (MSS) Collector
À Integral cooling system: Enables 30%, PV
annual efficiency enhancement;
À High electricity production: Utilizes a “sun
trap” by using low iron double glazing polarized
one-way mirror glass on the PVT collector;
À Better use of the Light Spectrum: Using IR
wavelength for thermal energy and the Visible
Light wavelength for electricity;
À Savings in framing costs, hard glass
lamination costs, construction costs and
rooftop area costs.
MSS: The most efficient solar collector in the
world
MSS is a built in Multi Solar System with the highest
utilization that exists today:
85% (15% electricity, 35% hot water, 35% hot air).
The thermal energy can be converted into electrical
energy by the use of Thermal turbo generator and gain
additional 15% of electrical energy.

The Multi Solar System has been developed with a very

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innovative and unique feature. Beyond flat plate hot water panels, special double glass PV
panels have been developed; the air/water fluid flows within the two water/air pipe channels,
capturing the infrared radiation, but allowing the visible spectrum to flow through, lighting the
interior environment. In this way, the same window can become an active element capable of
providing electricity beyond lighting and heat control.

The Multi Solar System works with circulating air, and it is fitted with automatic valves for
interior ventilation with filtered and humidified air using small fans. It is integrated in the outer
shell of the building and produces zero oxide or dust emission.
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3. Planning, Construction and Maintenance of Solar PV Power Stations
(Turn-key projects) for Supplying Electricity Using Solar Energy

Central Solar Power Stations applications use solar

energy in the same configuration that a utility would
utilize a major power station.
Feed-in-tariff programs (selling electricity to grid-
connected systems) are the engine of the PV industry.
Such programs that exist today in Germany, Spain,
Italy, USA (mainly California and NJ), South Korea and
other countries, promote mass construction of Solar
Power stations.
Millennium earns twice with such projects: Once for the Solar Power stations in
construction (in turn-key projects) and second, as an the Mojave desert
electricity provider to the grid.
Millennium plans the construction of Solar Power Stations in the range of 40MWp (€200M Euro)
during the years of 2007 – 2009:
• 1MWp Solar PV power station in Southern Italy
• Many PV stations of 50kWp each around Italy
• 20MWp MSS (using our unique solar technology) power station in South
Korea
• 10MWp (minimum) solar PV power station in the Canary Islands, Spain
(totaling 65MWp)
• 5MWp solar PV power stations in Greece
• 10MWp solar power stations in the USA

Millennium signs a major Joint Venture

agreement for the establishment of a
7MWp Solar Power station in 1,000 kW, grid-connected PV system in
Germany Bazilikata, Southern Italy to be
completed by end 2007
4. Planning, Production and sale of Various Solar PV Applications for
Infrastructures, Lighting and more.

Traffic Probe Reader (TPR)

operated by solar energy

Industrial Applications
For many years, solar energy has been the power supply of choice for industrial applications,
where power is required at remote locations. These solar powered applications are economical,
even without subsidies. Most systems for individual uses require a few kilowatts of power.
Examples are powering repeater stations for microwave, TV and radio, telemetry and radio
telephones.

Solar Home Systems (SHS) in the Developing

World
Apart from off-grid homes, other remote buildings such as
schools, community halls, and clinics can all benefit from
electrification with solar energy. This can power TV, video,
telephony and a range of refrigeration equipment, which is
available to meet World Health Organization standards for
vaccine refrigeration, for instance.
Solar Home Systems (SHS)
in Brazil
Building Integrated PV (BIPV)
A BIPV system operates as a multi-functional building
construction material; it generates energy as well as serves
as part of the building envelope. On an office building, atria
can be covered with glass/glass PV modules, which can be
semi-transparent to provide shaded light. On a factory,
large roof areas have been the best location for solar
modules. If they are flat, then arrays can be mounted using
techniques that do not breach the weatherproof roof
membrane. Building Integrated (BIPV)
in the Netherlands

Solar Powered Military Devices Design Services

Power independent, maintenance free, robust, user friendly,
easy operation: all enabled by solar powered military
devices. Photovoltaic powered military systems:
transmission, signaling and control devices.
Solar Lighting
Solar PV Foldable Panels
Light Emitted Diodes (LED) based light system represents a
new step forward for solar lighting. The LED system used never
needs replacement resulting in the most reliable solar light
system on the market and results in the lowest maintenance cost
of any solar light system.
Its unique design appearance is both functional and attractive. By
using long life LED technology (expected life 100,000 hrs or over
25 years of normal use), the Light fitting will last the life of the
system and you will never be a need to change a bulb.

5. R&D for Future Solar Technologies

Millennium stands for innovative solar solutions: Integrating photovoltaics with thermal solar
elements, forming comprehensive renewable energy systems, managing electricity, human
ecosystems, energy storage, grid or off-grid applications; forces Millennium to ongoing focus on
R&D in cooperation with world leader institutions, companies and academic personnel of the PV
th
Solar energy industry. Millennium is taking part in the field of R&D as a part of the 7 framework program
of the European Commission as well other European and American research Funds.

Some of the R&D projects Millennium manages:

Project Budget Description
1 SOLARDIST 413,344 Euro Development of a Solar Distillation Wastewater
Treatment Plant for Olive Oil Mills
.
2 HELSOLAR 989,171 Euro High Efficiency Low Cost Solar Cells
.
3 SOLAR- 359,900 Euro Development of Innovated Quality Assurance
Measures to Improve the Efficiency of Solar Panel
. POWER
Production
4 MORES 518,374 Euro Remote Monitoring for Renewable Energy Systems
.
5 MULTISOLAR 599,000 Euro Development of Integrated Solar System for
Buildings
.
6 REFLECTS 908,493 Euro Novel Bifacial Single Substrate Solar Cell Utilizing
Reflected Solar Radiation
.
Total Existing Budget: 3,788,282 Euro
Summary

With accumulating orders of around $200M USD for the next 3 years from the growing markets
in the PV industry, Millennium has great potential to become a major player in this international
market within a short time frame.

Millennium, along with its group of international partners, has the capability to enhance and to
be the pioneer of the Multi Solar System, the next generation of solar technology in the
expanding renewable energy market.

"Only the Sky is the Limit for the International PV Solar Markets" is not only an idiom;
the world PV market rose 60% in 2004-2005 and Millennium is part of this game.