SARASOTA, Fla. and BOLINGBROOK, Ill.-- Sunovia Energy Technologies, Inc. (NASD OTC Bulletin Board: SUNV) is pleased to announce that it has completed its mezzanine round of financing. The company has currently raised a total of $12 million, and continues to allocate proceeds to the development of the scalable CdTe-based solar cell manufacturing facility and sales of the EvoLucia™ LED-based solid-state lighting solutions.

Sunovia and EPIR Technologies, Inc. (EPIR) have exclusively partnered to demonstrate a scalable manufacturing system for the production of low-cost, high-efficiency CdTe solar cells. More than $25 million has been invested into the companies' core CdTe research, development and design for the high-throughput CdTe-based manufacturing facility. Unlike other solar cell manufacturers that require substantial square footage for manufacturing, the companies' advanced manufacturing concepts should allow them to produce more than 100 megawatts (MWs) of high-efficiency CdTe solar cells within a 10,000 square foot area. The companies anticipate that the first scalable manufacturing system will be operational in less than 24 months and will have the capacity to produce more than 10 MWs of CdTe-based solar cells during the first year immediately thereafter.

"Initially, the high-efficiency CdTe-based solar cells are targeted at concentrated solar photovoltaic (PV) systems that support the commercial and utility-scale renewable energy markets. After demonstrating the scalable 10 MW high-throughput CdTe manufacturing system, we believe that the company will be ideally positioned to add additional capacity within a relatively short period of time in a cost-effective manner. In addition, the core manufacturing system is designed to have a very small footprint and can be scaled to meet the increasing demands, which are anticipated for this market throughout the foreseeable future," said Carl Smith, CEO of Sunovia. "Our aim is to achieve, or even undercut, the cost-per-watt manufacturing targets and timeframes, which are identified within the Department of Energy's Solar America Initiative, and we believe that we are uniquely positioned to accomplish this."

In addition, Sunovia's LED lighting subsidiary, EvoLucia™, recently completed a commercial installation of its ceiling or wall-mounted LED-based solid-state lighting solution. The installation called for the replacement of antiquated 120 watt incandescent fixtures with the new 22 watt EvoLucia™ fixtures which represents more than an 81% reduction in carbon emissions and more than a $1,000 savings per light over the life of the EvoLucia™ product. The energy and maintenance savings to this customer allow the fixture cost to be recovered within 18 months of the installation. EvoLucia products are guaranteed for five years and have a projected lifetime of at least 50,000 hours, or more than 15 years for products that are utilized eight hours everyday.

"LED lighting is the smartest and most efficient answer to energy-efficient lighting. When compact fluorescent bulbs are thrown away, the mercury (Hg) component poisons the land, and runoff allows the mercury to pollute our waterways. Our cost-efficient and environmentally responsible LED lighting products are the smartest answer to energy-efficient lighting. If you use compact fluorescent bulbs, please recycle them properly as future generations will pay severely for these shortsighted 'solutions'," added Smith.

About Sunovia Energy Technologies, Inc.

Sunovia Energy (https://www.sunoviaenergy.com) is a Sarasota, Fla.-based renewable energy and energy conservation company that is working to develop an advanced and cost-effective cadmium telluride (CdTe) solar cell technology. Sunovia is also the owner of the proprietary EvoLucia™ LED lighting product line, the incredibly energy-efficient solid-state lighting solutions have received CE, FCC, TUV and IP23 regulatory approvals, and are now being marketed worldwide.

Sunovia owns a significant equity interest in Illinois-based EPIR Technologies, Inc. (https://www.epir.com), one of the most advanced IR sensor and IR imaging companies in the world. EPIR's knowledge, experience and expertise in the growth of CdTe, HgCdTe and other II-VI semiconductors equal or exceed any other company in the world. Their unmatched prowess in this area has been endorsed by the award of unprecedented congressional funds for the development of a manufacturing capability for CdTe on Si and the award of a patent for growing CdTe directly on a Si readout integrated circuit. EPIR and Sunovia have a network of close collaborative relationships with the major Defense Department and industrial labs involved in IR detection and imaging, including the Army Research Laboratory, the Night Vision Electronic Sensors Directorate, BAE Systems, Lockheed Martin, DRS, Raytheon, Rockwell, Texas Instruments and other laboratories around the world.

More information about the exclusive partnership may be viewed in the company's filings with the Securities and Exchange Commission (SEC), available online at www.sec.gov.

The Sunovia Energy logo is a registered service mark of Sunovia Energy Technologies, Inc. in the United States and/or other countries. Sunovia Energy products and services are provided by Sunovia Energy Technologies, Inc.

Forward-Looking Statement

Some of the statements made by Sunovia in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Sunovia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Sunovia's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Projected life expectancy for EvoLucia™ LED products is dependent upon daily usage.