Market Overview

Silfab Solar Invests in Itek Energy to Expand U.S. Manufacturing


, North America's leading PV module manufacturer, today
announced a direct investment into Itek Energy, LLC to initiate its
United States operations and to meet growing demand for its
high-performance, high-quality solar panels.

The investment brings together two of North America's best-known
entities in the solar photovoltaic (PV) module manufacturing market, and
provides Silfab with additional manufacturing capacity at a facility
already known for its high performance and attention to quality. Silfab
announced it will integrate its well-known automation technology to
Itek's Bellingham, WA facility and add a second manufacturing line to
more than double PV module production.

"This is a marriage of highly similar and very compatible visions – to
produce the highest-quality PV modules that consistently outperform
competing products in efficiency, endurance and long-term power
performance," said Paolo Maccario, COO and General Manager of Silfab.
"Our products are already deployed in 33 states. A U.S. operation will
now enable us to meet additional demands and customer appetite for
U.S.-made solar modules."

"Itek looks forward to an exciting future with expanded capabilities and
greater automation. Silfab is a leader in North American solar PV
manufacturing. We can't think of a better partner to accelerate
expansion within the U.S. solar market to deliver leading-edge
technological innovations," said John Flanagan, President and Founding
Principal of Itek.

Itek was founded in 2009 from a passion for creating U.S. jobs in clean
energy. In 2014, it opened its second new facility in Minneapolis to
provide local built solar modules to Minnesota. As of October of last
year, Itek expanded operations again, opening a state-of-the-art
flagship facility in Bellingham, WA - nearly tripling Itek's U.S.
manufacturing capacity. Itek has delivered more than 100 megawatts of
high-quality U.S.-built solar modules for home owners and business
owners throughout the United States.

Silfab has more than 35 years of solar experience, and works with
international partnerships to design and manufacture some of the
highest-output PV modules with superior quality. Silfab continually
invests in automating its manufacturing process, while dedicating
technicians and engineers to focus on quality control and design. New
manufacturing methods, such as fully automated bussing, has helped
Silfab to drive down the price of solar modules by reducing production

About Silfab:

Silfab Solar is a quality international leader in the development,
manufacturing and distribution of ultra-high efficiency PV modules with
just-in-time manufacturing. Silfab has leveraged more than 35 years of
solar experience. Silfab's state-of-the-art manufacturing facility
located in Toronto, Canada, has helped pioneer smart module technology,
glass on glass solutions and bifacial modules. Silfab's technically
innovative process produces superior reliability and performance
specifically designed for the North American market. Silfab balances
manufacturing capacity between OEM partners, Silfab branded modules and
new technology.

About Itek:

Itek is a nimble, fast-growing American solar manufacturer headquartered
in Bellingham, WA. It was founded on this principle: to manufacture
cutting-edge PV technology in highly efficient factories, bringing
quality solar PV modules to local markets, and strengthening local
economies with high-tech manufacturing jobs. Itek takes pride in
providing the world with high-quality, American solar modules with an
exemplary reliability record. Itek's experienced team of engineers,
operators, and leadership are dedicated to designing, engineering, and
manufacturing PV products with exceptional quality and performance, in
the United States.

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