Pace Global, Standard Solar Form Strategic Alliance to Deliver Solar Energy Systems to Commercial, Academic and Government Markets

August 18, 2009

Pace Global Energy Services, LLC ("Pace Global") and Standard Solar, Inc. have created a strategic alliance to quickly penetrate the growing solar energy markets in the commercial, academic, government, and residential sectors. This alliance builds on Standard Solar's existing success in the solar energy markets and will comprise a team with proven project origination and execution skills, global industrial experience, and supported by the necessary capital to expand quickly. Pace Global and Standard Solar are fully committed to bring added value to all of their customers and provide the differentiated energy solutions that solar power represents.

Pace Global and Standard Solar are currently developing a number of distributed power project opportunities in both the academic and the commercial marketplace. For these project hosts, the cost savings and dependence on renewable fuels will commence on day one of operation.

"The market environment for solar energy is strong and holds immediate opportunities for commercial and academic sites. The technology is now stable; the regulatory environment is extremely attractive; and demand for this cost effective renewable resource holds immense promise for our strategic alliance. Together we bring the development skills, the client portfolio, the capital and the regulatory experience to bring solar solutions to operational status immediately and we intend to do so," said Timothy F. Sutherland, Chairman and Chief Executive Officer of Pace Global.

Tony Clifford, Chief Executive Officer of Standard Solar, added, "We foresee an upward trend in electricity rates while the cost of implementing solar projects will fall. In addition, governments at both the Federal and the State level are providing attractive incentives for solar projects. This alliance has significant opportunities for successful growth and will allow us to provide real value to our current clients and as well as future customers."

Pace Financial Services, LLC - a wholly owned subsidiary of Pace Global - is serving as Financial Advisor to Standard Solar.

Source: Standard Solar Inc.