New CEO Joins Evergreen Solar

Solar photovoltaic (PV) company Evergreen Solar has taken on a new company Chief Executive Officer. Richard M. Feldt will now serve as CEO and President and a member of the Board of Directors. Feldt succeeds Mark A. Farber, who takes the position of Vice President of Marketing and Business Development and remains a Director.

Marlboro, Massachusetts – December 15, 2003 [SolarAccess.com] Solar photovoltaic (PV) company Evergreen Solar has taken on a new company Chief Executive Officer. Richard M. Feldt will now serve as CEO and President and a member of the Board of Directors. Feldt succeeds Mark A. Farber, who takes the position of Vice President of Marketing and Business Development and remains a Director. Evergreen has entered a new phase of development as we look to expand our manufacturing capacity fourfold over the next 12 to 18 months,” said Robert W. Shaw, Jr., Chairman of the Board. “Rick’s 30-year track record in successfully growing global technology and manufacturing businesses will be instrumental in the current major expansion.” Shaw took the opportunity to clarify that the executive shuffling would allow the former CEO to focus on other company matters. “Mark Farber has been an enormous asset to Evergreen Solar during the past nine years,” Shaw said. “Mark created the platform we now have and positioned us to accelerate the growth of this business. In his new role, he will be able to focus his solar market expertise to support the Company’s aggressive sales objectives.” Philip J. Deutch of Perseus LLC, lead investor in the May 2003 $30 million Series A Preferred financing, and Evergreen Director, said, “Evergreen Solar has one of the strongest management teams in the energy technology space. The addition of Rick Feldt is going to make a great team even better. Rick has the management experience, track record, and skill set to augment the Evergreen team and take advantage of the significant opportunities ahead. Rick’s appointment as CEO is consistent with the strategy of the Series A investors to provide Evergreen with the resources – managerial and financial – to create significant value for its shareholders.” Feldt, age 52, joins Evergreen Solar from Perseid, a developer of optical phased array technology created by Raytheon, where he served as Chief Executive Officer. Previously, he served as Chief Operating Officer of SupplierMarket.com, which was sold to Ariba. Prior to that, Feldt was Senior Vice President and General Manager of Worldwide Operations at Symbol Technologies where he contributed to doubling revenues in four years, according to Evergreen. As head of operations, Feldt increased Symbol’s competitive advantage by streamlining its complex supply chain and significantly reducing cycle times and material costs. In addition, Feldt has held senior positions at A.T. Cross Company, Eastman Kodak Company, and Spectra-Physics. He received a bachelor’s degree in industrial engineering from Northeastern University. “As an innovator in crystalline silicon, Evergreen Solar has a great technology foundation and a strong management team in place,” Feldt said. “I look forward to leading Evergreen Solar through the expansion and transformation into a formidable industry player.”