Solexel Achieves Record 20.62% Thin-Silicon Cell Efficiency Utilizing Applied Nanotech’s Proprietary Aluminum Metallization Material

Austin, TX - January 3, 2013 - Applied Nanotech Holdings, Inc. (OTC BB: APNT) announced that Solexel (www.solexel.com) presented its world record achievement of 20.62% efficiency from 156 mm x 156 mm full-square solar cell using its low cost ultra thin epitaxial silicon film and porous silicon lift-off technology at PV Asia Pacific (APVIA/PVAP) Expo 2012 in Singapore on October 24, 2012. This record thin-silicon efficiency was achieved by Solexel’s unique epitaxial cell architecture and proprietary manufacturing process flow, utilizing Applied Nanotech’s proprietary aluminum metallization material.

Solexel’s disruptive technology and production process is based on proven semiconductor processes mapped and scaled to solar photovoltaics industry. This disruptive technology combines the deposition of ultra thin epitaxial silicon film on the top of a porous silicon layer. The porous silicon layer created on reusable silicon wafer templates allows a lift-off process and the release of the thin film solar cell from the mono-crystalline silicon. This unique technology is a complete ultra thin-silicon total solution based on an extendable modular technology platform for high performance, low cost, scalable PV products.

The Solexel’s solar cell structure is based on its innovative back contact/back-junction cell design and manufacturing process flow, and for the metallization of the contacts necessary for solar cell completion Solexel is utilizing ANI’s proprietary aluminum metallization material using Solexel’s proprietary manufacturing process.

“We are pleased to work with a partner like Solexel who has the outstanding technology that has the potential to revolutionize the solar industry in the near future. We are continuing to improve our aluminum metallization material and expect to achieve still higher efficiency with Solexel in the future,” commented Dr. Zvi Yaniv, CEO of Applied Nanotech, Inc., a subsidiary of APNT.

Applied Nanotech and Sichuan Anxian Yinhe Constructional & Chemical Group Co., Ltd (YHCC) would also like to use this opportunity to announce the opening of YHCC’s high volume production plant in YHCC’s high tech industrial park in Sichuan Province. This plant is operated by Sichuan Yinhe Starsource Technology Co., Ltd. This plant is dedicated to volume manufacturing of metallic (aluminum and silver) inks and pastes for the solar PV industry under exclusive license from APNT and was designed for a capacity of over 1,000 tons of inks and pastes per year.

“One of our key strategies is to create sustainable revenue sources resulting from commercialization of our technologies through cooperation with leading companies such as Solexel and YHCC in this industry as the market continues to develop,” said Doug Baker, CEO of Applied Nanotech Holdings, Inc.

About Applied Nanotech Holdings, Inc.
Applied Nanotech Holdings, Inc. is a premier research and commercialization organization focused on solving problems at the molecular level. Its team of PhD level scientists and engineers works with companies and other organizations to solve technical impasses and create innovations that will create a competitive advantage. The business model is to license patents and technology to partners that will manufacture and distribute products using the technology. Applied Nanotech has over 300 patents or patents pending. Applied Nanotech’s website is http://www.appliednanotech.net

About Solexel, Inc.
Solexel is an innovative solar PV module manufacturer, based in Milpitas, California.  The company is developing thin crystalline silicon solar modules that offer the performance, quality and reliability of the industry's best-performing modules, at significantly lower cost.  Solexel's approach is based on a disruptive, IP-protected technology which eliminates dependency on the traditional silicon supply chain, and at the same time, enables unique product performance features.  Its high-efficiency, low-cost, high-energy-yield solar modules offer compelling value to multiple market segments, including residential, commercial, and utility-scale power generation. Solexel’s website is http://www.solexel.com

 About Sichuan Yinhe Starsource Technology Co., Ltd.
Sichuan Yinhe Starsource Technology Co., Ltd. is a subsidiary of Sichuan Anxian Yinhe Constructional & Chemical Group Co., Ltd. It focuses on electronic paste in the photovoltaic industry. Based on the production of the metal paste for crystalline silicon solar cells, the company is mainly engaged in the manufacturing of the front and back silver paste and aluminum paste used for solar cells. In February 2011, YHCC and ANHI formed the industrial and R & D alliance, which laid the foundation of Starsource Technology. Starsource’s website is http://www.starsource.com.cn

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This press release contains forward-looking statements that involve risks and uncertainties concerning our business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in our annual report on Form 10-K for the fiscal year ended December 31, 2011, and in reports subsequently filed by us with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from our website listed above. We hereby disclaim any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.

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