11th June 2012

The Chairman of Novatec Solar’s Shareholder Committee, Guido Belgiorno-Nettis, has announced the appointment of Oliver Mundle as Chief Financial Officer and Member of the Management Board.

Oliver Mundle has more than 15 years’ experience in finance and business management in the mechanical and plant engineering and automotive sectors which he gained in his time working for Arthur Andersen, Harman Becker and Ziemann. Oliver Mundle has studied business engineering at the University of Karlsruhe and the University of Calgary.

“We are very pleased to have Oliver joining our board,” said Dr. Christoph Wolff, CEO of Novatec Solar. “His broad experience in business management and project finance in international markets will be very valuable in helping Novatec Solar deliver solar thermal power stations in our target markets of India, South Africa and the Middle East.”

Oliver Mundle said: “I am very excited to join a leading technology provider in the CSP industry and to work with Novatec’s team of highly experienced people.”

About Novatec Solar’s Fresnel Collector Technology
Novatec Solar’s Fresnel technology uses parallel rows of flat mirrors to focus direct solar irradiation onto a linear receiver. Water that is conveyed through the absorber tubes is directly evaporated or superheated to a temperature range from 270°C to above 500°C depending on the steam application. The cleaning of the mirrors is done by cleaning robots that use very little water.

About Novatec Solar
Novatec Solar is a leading technology provider and original equipment manufacturer of efficient, low cost direct solar steam generators (solar boilers) based on Fresnel collector technology. Novatec Solar’s proven solar field technology generates steam with temperatures up to 500°C. Novatec Solar undertakes manufacture, supply, turnkey delivery and operation of solar boilers for a range of applications including power stations, desalination plants and industrial processes. Transfield Holdings has been the majority shareholder in Novatec Solar since 2007. In March 2011, ABB acquired a 35 percent shareholding in Novatec Solar. The founders and management shareholders of Novatec Solar are Martin Selig, Dr.-Ing. Max Mertins and Gerhard Hautmann.

Media Contact:
Jutta Glänzel
Tel: +49 1622857 221
jutta.glaenzel@novatecsolar.com