Iosil Energy Corporation Secures First Close on US$13.5M in Equity Financing to Build Pilot Manufacturing Plant

By Iosil Energy Corporation, PRNE
Tuesday, March 16, 2010

ALBUQUERQUE, New Mexico, March 17, 2010 - Iosil Energy Corporation ("Iosil"), an innovator in the production of
high-purity solar grade polysilicon for the photovoltaic industry, announced
today that it has secured US$13.5 million in equity financing in an
oversubscribed round. New investors BankInvest New Energy Solutions, SiC
Processing, Bekaert, Epic Ventures, and Gideon Hixon joined existing
investors EnerTech Capital, Cycad Group, and Espirito Santo Ventures, Milcom
Technologies, Applied Ventures, Phoenix Fire, and Merrimaker. The initial
tranche allows the company to specify and engineer its pilot plant facility
in one of several locations under consideration. The full investment will be
used by the company to build out a pilot manufacturing plant and prepare for
commercial introduction.

Iosil is uniquely positioned in the solar industry with a breakthrough
technology for the production of high-purity (99.99999% pure) polysilicon.
The company has demonstrated its ability to produce high-purity polysilicon
from the waste material (or "kerf") created by wafer sawing operations, a
market opportunity awaiting such a solution as well as via upgrading
metallurgical grade silicon.

"Iosil is now moving from a successful research and development phase to
a manufacturing scale-up of its technology. The solar market needs innovation
throughout the value chain to reduce costs and enable growth in one of the
largest segments of the renewable energy industry" said Earl Fuller, Chief
Executive Officer of Iosil Energy Corporation. "We're thrilled with the
quality of silicon recovered from our industry's waste stream, and this
enabled us to achieve investment from important strategic players in the
industry value chain, as well as financial investors."

"BankInvest New Energy Solutions has been monitoring the PV industry
since the start of its first fund in 2002 and brings experience from two
solar investments to the board of directors." said Michael S. Lauridsen,
Partner. "The ongoing consolidation and price erosion in the PV industry make
it increasingly difficult for new players to enter. We have seen many
interesting solar technologies, but very few which have the potential to
become successful. Iosil is the exception to the rule. Its disruptive
technology can significantly reduce the price of Silicon as well as recycle
the large amount of Silicon which is presently lost in wafer dicing. We
believe Iosil has the potential to become a real game changer in a highly
competitive market and we are proud to have invested in the company."

Iosil's technology can be used to produce polysilicon from metallurgical
grade silicon, the traditional feedstock source, but also as mentioned, can
cost effectively recover and purify silicon from sawing waste streams. The
company plans to work with the strategic investors, industry leaders in their
markets, to enhance market opportunities and customer collaborations.

"Iosil was the first to demonstrate production of high-purity polysilicon
from kerf," said Thomas Heckman, Chief Executive Officer of SiC Processing.
"We are pleased to have the opportunity to monitor their development and to
work toward relationships that will mutually benefit the parties in strategic
market opportunities."

About Iosil:

Iosil Energy Corporation, founded in 2007, has its R&D facilities located
in the National Institute for Nanotechnology in Edmonton, Alberta, with
headquarters located in Albuquerque, New Mexico. Iosil has a strong patent
portfolio including a worldwide exclusive license for two patents developed
at the National Renewable Energy Laboratory (NREL) in Golden, Colorado. For
more information about the company please visit our website at

    Iosil Energy Corporation
    Earl Fuller, CEO

Earl Fuller, CEO, Iosil Energy Corporation, +1-505-250-1196, info at

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