GFI Energy Ventures - Press Release

GFI Energy Ventures LLC Acquires Majority Stake
In GT Equipment Technologies

January 9, 2006 - For Immediate Release

Merrimack, NH – GT Equipment Technologies, Inc. (GT), a worldwide leader in the design, manufacture, and installation of turnkey manufacturing lines for wafers, cells and solar modules, announced today that an investor group, GFI Energy Ventures, LLC, has acquired a majority interest in the company. Terms of the acquisition were not disclosed. GT’s management team will continue to be led by CEO Dr. Kedar Gupta and President & COO Tom Zarrella and the company will remain based in Merrimack, NH.

“We are pleased to partner with GT’s experienced management team and to play a role in supporting the Company’s next phase of substantial growth in revenues and profitability,” said Richard Landers, a Principal of GFI Energy Ventures. “GT offers the only one-stop-shop for the design, construction and deployment of photovoltaic (PV) factories in the world. We expect the market for solar equipment to continue its significant growth and believe GT, as a market leader, is well positioned to capitalize on this growth.”

“We are very excited to be partnering with GFI,” said Dr. Kedar Gupta, co-founder and CEO of GT. “The GFI relationship gives us substantial added capacity, resources, and expertise to support our Company’s response to expanding customer and market needs. Demand for solar equipment continues to grow at double-digit rates every year. As the basic economics of solar energy continue to become more attractive, we believe that solar energy penetration in homes and businesses worldwide will continue to accelerate, fueling the demand for GT’s PV products and services.”

About GT Equipment Technologies:
GT Equipment Technologies (www.gtequipment.com) is an industry leader in the design and manufacture of semi-custom and specialty equipment for the solar and materials processing industries, particularly for photovoltaic and semi-conductor applications. The Company’s turnkey manufacturing lines and furnaces are used by blue-chip companies worldwide. GT is based in Merrimack, New Hampshire.

About GFI Energy Ventures LLC:
GFI Energy Ventures LLC (www.gfienergy.com) is a private equity firm that has initiated and led over 45 investments in the energy sector over the past ten years. GFI is the co-general partner with Oaktree Capital Management of the approximately $1.5 billion OCM/GFI Power Opportunity Funds. GFI invests exclusively in successful, profitable businesses providing the equipment, software, services, and systems needed by utilities, other energy companies, and their largest customers to generate, transmit, manage, measure and consume energy at a time of major sector change. GFI is based in Los Angeles, California.

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