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HP Licenses Technology to Xtreme Energetics for Creation of Super-efficient Solar Energy System

PALO ALTO, Calif., June 4, 2008

HP and Xtreme Energetics (XE), a solar energy system developer based in Livermore, Calif., today announced they have entered into an agreement for the development of a solar energy system designed to generate electricity at twice the efficiency and half the cost of traditional solar panels.

Under the technology collaboration and licensing agreement, HP will license its transparent transistor technology to XE in return for royalty payments.

The transparent transistor technology that will be used in XE’s solar energy device was co-developed by HP and Oregon State University. The technology includes thin film transparent transistors, which are made from low-cost, readily available materials such as zinc and tin. The materials raise no environmental concerns and allow for higher mobility, better chemical stability and easier manufacture.

The transistor technology enables control of XE’s concentration and tracking system as it provides a transparent electronic mechanism to maximize the concentration of light. When coupled with XE’s system, the technology improves conversion efficiency as maximum light can get through without being blocked by traditional non-transparent electronics.

“Blending art and science, our ultra-high efficiency solar energy systems can serve both the central utility and rooftop markets using low-cost, ecologically harmonious and architecturally inspiring designs,” said Colin P. Williams, chief executive officer, Xtreme Energetics. “Our agreement with HP allows us to bring an advanced solar energy solution to the market that is superior to other offerings currently available.”

The flat design of XE’s system eliminates the need for mechanical tracking of the sun as it traverses the sky. Also, with HP’s transparent electronics technology, the system can be artistically patterned to mimic the appearance of any building material or terrain for aesthetic appeal. This low-profile design also overcomes the persistent dilemmas of mechanical solar trackers, which cast shadows onto themselves, require large maintenance costs and are vulnerable to high winds, making rooftop installations especially difficult.

“Open innovation to foster collaborative research is essential in today’s fast-paced, innovation-fueled market,” said Joe Beyers, vice president, Intellectual Property Licensing, HP. “Through our collaborative research and by licensing HP’s core intellectual property in electronics, we are accelerating the pace of technology transfer so that it can be applied more rapidly into creating commercial, renewable energy solutions.”

Transparent transistor technology is just one example from HP’s portfolio of technologies available for licensing. The collection also includes assets relating to fuel cells, projectors and digital pen and paper. A complete list of technologies offered through HP’s intellectual property licensing program is available at www.hp.com/go/ipl.

Xtreme Energetics plans to make its solution available to commercial customers as well as the central utility market. The company also is currently seeking investment for further product development and to establish national and international manufacturing, sales and marketing teams.

HP encourages other organizations worldwide to leverage its vast research and development network and portfolio of nearly 30,000 patents to bring new technologies to market through intellectual property licensing agreements. These agreements also enable HP to generate a return on its research and development investment through licensing fees and royalties.

About Xtreme Energetics (XE)

XE is developing stunningly beautiful, predominantly transparent optoelectronic solar products that can track and concentrate sunlight and convert it to electricity at twice the efficiency and half the cost of traditional, silicon-based solar panels. XE’s technology is suitable for solar photovoltaic, solar thermal and natural daylighting installations. More information about Xtreme Energetics is available at www.xesolar.com.

About HP

HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totaling $110.4 billion for the four fiscal quarters ended April 30, 2008. More information about HP (NYSE: HPQ) is available at http://www.hp.com.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2008 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2007. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2008 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

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