OMVS Launches Major Solar Technology Project

TAMPA, Fla.--(BUSINESS WIRE)--On the Move Systems (OTCBB:OMVS) announced the launch of a major new product development initiative today to create the next generation of practical, affordable solar panels. OMVS has begun work on developing printable inkjet solar panels that it expects to deploy for powerful new applications.
   
The new initiative marks a dynamic move into cutting-edge solar technology development that the company expects to use as a platform for rapid expansion.

“OMVS is aiming for ‘what’s next’ technology rather than ‘me too’ technology,” said OMVS CEO Chet Gutowsky. “We know there is incredible demand in the market for solar solutions. The biggest barrier to mass adoption of solar power worldwide has been the excessive cost of the existing technology.

“The solar industry is set to explode as soon as new innovations make solar cost-competitive with oil and gas, and we plan to help deliver the new technologies that will spark the green energy revolution,” he added.

Driven by Federal tax credits, declining technology costs and growing environmental awareness, the U.S. solar power market grew by an unprecedented 67 percent in 2010. This $6 Billion industry continues to grow at faster and faster rates. Bloomberg New Energy Finance reported last month that new investment rose 22 percent from the previous year to $41.7 billion. By developing new early-stage solar technologies, OMVS plans to capitalize on strong, continued growth in the industry.

Engineers at MIT, Oregon State University and elsewhere are already experimenting with revolutionary “inks” containing elements capable of being sprayed on a variety of surfaces in precise patterns to create solar cells. The technology holds the potential to eliminate the need for expensive silicon panels, resulting in rapidly produced, high-performing, ultra-low cost solar electronics. With its new initiative in place, OMVS has set its sights on bringing these cutting-edge electronics to market.

For more information on OMVS’ solar technology plans, please visit http://www.OMVSsolar.com/investors.html.

In addition to its automotive aftermarket electronics business, On the Move Systems is working to commercialize early-stage solar technology innovations to compete in a rapidly growing energy sector that includes LDK Solar Co., Ltd (NYSE: LDK), First Solar, Inc. (NASDAQ: FSLR), Suntech Power Holdings Co., Ltd. (NYSE: STP) and Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE).