PRESS RELEASE

May 14, 2004

American University of Armenia Corporation
300 Lakeside Drive, 4th Floor
Oakland, CA 94612
Telephone: (510) 987-9452
Fax: (510) 208-3576

Contact: Gohar Momjian
E-mail: gohar@auac.net

AUA AT HELM OF SOLAR TECHNOLOGY IN ARMENIA

Yerevan – On May 4, 2004, the American University of Armenia (AUA) conducted
opening ceremonies to present its Solar Photovoltaic Power Station, which
was built in collaboration with Armenia’s State Engineering University
(SEUA) Heliotechnics Laboratory and Transistor Plus of Viasphere Technopark.
The success of AUA’s solar photovoltaic project demonstrates the feasibility
of using solar energy as an alternative power source in Armenia.

AUA’s Engineering Research Center began design and installation of the
photovoltaic power system in Spring 2003, with generous funding by the
Turpanjian Family Foundation. This project builds upon the solar heating
and cooling system located on AUA’s rooftop, developed two years ago with
scientists in Portugal, Germany, Russia and Armenia, funded by Mr. Sarkis
Acopian and INCO Copernicus of the European Union. This innovative solar
station has the highest capacity among similar systems functioning in
Armenia and the only one that is integrated into a solar driven heating and
cooling system.

The new solar electric power station can operate independent of an external
power supply. The system is comprised of solar photovoltaic panels field, a
solar battery bank, and a three-phase DC/AC inverter. The 72 solar
photovoltaic panels are installed on a special seismic isolated structure on
the roof of the University. Each panel has approximately 0.7 square meters
of surface and was produced at Heliotechnics Laboratory of the SEUA. The
photovoltaic converter cells used in the solar panels were made by Krasnoye
Znamye, Russia. The three phase DC/AC inverter was designed and
manufactured specifically for this project by Transistor Plus which is a
part of ViaSphere Technopark.

The Engineering Research Center is administered by AUA’s College of
Engineering. Its aim is to conduct basic and applied research on economic
and technological problems that are relevant to the industrial development
of Armenia and its region. It brings together AUA visiting faculty, local
scientists and engineers, and AUA students to collaborate on innovative
research projects.

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The American University of Armenia is registered as a non-profit educational
organization in both Armenia and the United States and is affiliated with
the Regents of the University of California. Receiving major support from
the AGBU, AUA offers instruction leading to the Masters Degree in eight
graduate programs. For more information about AUA, visit or

Pictures From left to right:

Solar-1: Artak Hambarian, Associate Director of AUA College of Engineering
and Research Center, Project Manager; Anahit Ordian, Director of AUA
Administration; Aram Vardanyan, General Director of the Viasphere
Technopark; William Akounyan, Project Researcher; Hrant Vardanyan, Manager
of the Engineering and Production Service of the Viasphere Technopark;
Joseph Panossyan, Head of the Heliotechnics Laboratory, State Engineering
University of Armenia; Gagik Ayvazyan, Director of Transistor Plus;
Khachatour Khachikyan, Operations and Finance Manager of the Viasphere
Technopark

Solar-2: Artak Hambarian, Associate Director of AUA College of Engineering
and Research Center

Solar-3: Wilhelm Akunyan, AUA Engineering Research Center researcher; Joseph
Panossyan, Head of the State Engineering University of Armenia,
Heliotechnics Lab.