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Press Release
(Embargoed until Sunday 10am 17 Feb 2008)

Green and Gold Energy to invest AU$250m, building a 1,000 MW SunCube™
manufacturing plant, building 60 MWs of SunCube™ Energy Farms and
providing 1,000 ‘sustainable Green Jobs’

Leading solar energy inventor and CEO of Green & Gold Energy Pty Ltd (GGE), Mr Greg Watson today
announced GGE’s intent to build a 1,000 MW SunCube™ manufacturing plant in Adelaide that would provide
over 1000 new sustainable green jobs and mark the beginning of what could be a green energy
manufacturing revolution in this state.

After many years of research and development, GGE has achieved a world breakthrough with its high
efficiency, smart 2 axis tracking SunCube™ CPV technology, which Mr Watson says is well ahead of its
competitors in supplying cost effective renewable energy to Australia’s electricity grid.

The SunCube™ is being launched at 10am today to the world market during the Green City Festival, which
is being held at Elder Park, Adelaide (Sunday 17 Feb 2008 10am to 5pm). The general public is invited to
visit and see the future of electricity generation.

Mr Watson says GGE has contracts with commercial partners in South Korea, Spain, India, Israel, USA, and
Australia to supply approximately 400 MW’s of SunCubes™ per year with-in 3 years.

Significantly, GGE has also placed a US$78m purchase order with Emcore Corporation of the US to supply
215 MWs / 6.2 million of their world-leading 38% efficient triple junction cell receiver assemblies.