New projects for Upsolar in Belgium and Portugal

Paris, France.--September 18, 2009-- Thanks to its strong partnership with its clients in Europe, Upsolar’s PV modules are now installed in the large projects in Belgium.

Group Machiels NV, a well known Belgium corporation strongly involved in environment and waste management projects, is about to finalized a 4,7 MWp PV plant in Heusden-Zolder, the largest plant in the BeNeLux area so far, as well as another 1,5 MWp plant in Lommel. These two projects have been made possible with the participation of LRM Limburgse Reconversie Maatschappij as strong institutional support and investor as well as IZEN NV PV engineering and installation Company. Those two pioneer projects are in line with an environmental program of reconversion of old mines waste soils. Upsolar is proud of being supplier of these projects and is looking forward to the future cooperation with Group Machiels.
Since Upsolar’s launch in 2006, the company has grown rapidly, with over 60 MW shipped in 2008 and revenues of $165 million Euros, which the company expects to double by the end of 2009 by delivering 120 MW. Upsolar estimates sustained growth in 2010, increasing production-line capacity to 300 MW.

About Upsolar

Upsolar is a multinational company specialized in the design, engineering and manufacturing of solar photovoltaic modules. Upsolar's strength is the development of strict quality control in its manufacturing process to provide worldwide customers with reliable, excellent products for all residential, commercial and utility-scale projects. Using top-quality module components from highly qualified international manufacturers ensures the delivery of consistent product quality. Upsolar aims to provide the most reliable and cost-competitive PV modules to its customers.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and include the ability of Upsolar Co.,Ltd to reach the previously mentioned estimates, moving forward. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

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