Solar Cells Info

source: press release SES Solar
www.sessolar.com

GENEVA — (MARKET WIRE) — November 29, 2006

SES Solar Inc. (OTCBB: SESI), a leading European-based developer of cost-effective, high productivity solar panels and solar roof tiles, is pleased to announce that it has received and accepted subscriptions for approximately USD 3.7 million (CHF 4.6 million) relating to a private placement for 4,100,001 common shares of the company at USD 0.90 per share. Proceeds from the financing will be used for the construction of the company´s new state-of-the-art solar panel manufacturing facility in Geneva.

The securities offered by SES Solar have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933.

“We are very pleased with the confidence investors are showing in SES Solar,” said Jean-Christophe Hadorn, chief executive officer and president at SES Solar Inc. “We are in advanced negotiations for obtaining the balance of the construction financing, and believe we will conclude those discussions soon.”

SES Solar´s current business plan includes the development of new assembly lines based on its patented methodology which allows for low cost production of technologically advanced solar panels and solar roof tiles in Europe. The company plans to construct a state-of-the-art manufacturing facility in the suburbs of Geneva, Switzerland. SES Solar received authorization to build a production site on the property from the State of Geneva.

About SES Solar Inc.

SES Solar´s wholly owned subsidiary, SES Switzerland was incorporated under the laws of Switzerland on March 26, 2001. Its principle business is the production of solar photovoltaic modules and roof tiles from silicon cells. SES Switzerland´s proprietary products are based upon integrating unique architecture on commercially available high-performance modules and solar tiles.