Abound Solar Names Key Equipment Finance As Vendor Financing Partner

Partnership enables commercial customers to finance Abound Solar’s photovoltaic solar modules while conserving cash

Superior, Colo. (June 21, 2010) – Key Equipment Finance, one of the nation’s largest bank-held equipment finance companies and an affiliate of KeyCorp (NYSE: KEY) and Abound Solar, a leading manufacturer of cadmium telluride thin-film photovoltaic solar modules, today announced the establishment of a new program to fund commercial-scale solar photovoltaic systems for Abound Solar’s customers in the U.S.

The relationship with Key Equipment Finance will enable Abound Solar’s integrators to offer flexible financing of complete photovoltaic systems using the company’s solar modules, including cost of the balance of systems components and installation services. By offering a finance option, Abound Solar is enabling customers to match the expected cost savings from the solar panels to the cost of the payments, while allowing the end-user to retain tax benefits of system ownership. The program can accommodate a variety of transaction sizes ranging from $100,000 to millions of dollars.

“The addition of a comprehensive finance program is one more example of Abound Solar’s commitment to making solar electricity more accessible to companies interested in using clean, renewable sources of energy,” said Adam D. Warner, president of Key Equipment Finance. “Abound Solar is built upon the idea that better technology can reduce the cost of solar electricity, and this finance program will make it easier for government entities, retailers and other commercial customers to obtain that technology while conserving cash.”

Abound Solar noted Key Equipment Finance’s knowledge of the energy industry, experience implementing finance programs for solar equipment manufacturers and the ability to team up with another Colorado-based company as primary reasons for selecting Key Equipment Finance as its finance partner.

“Key Equipment Finance is a leader in providing financing solutions for commercial customers and government entities,” said Julian Hawkins, Senior Vice President of Sales and Marketing. “We are excited to partner with them in providing flexible finance options for customers and contributing to the value proposition of photovoltaic systems built with Abound Solar modules.”

• businesses of all sizes in the U.S. (from small business to large corporate);
• equipment manufacturers, distributors and value-added resellers worldwide;
• federal, provincial, state and local governments as well as other public sector organizations; and
• lease advisory services for larger structured equipment needs including single investor and leveraged leases, securitizations, and structured debt.

About Abound Solar

Abound Solar was founded in 2007 to commercialize a proprietary process for manufacturing cadmium telluride thin-film photovoltaic modules. Built upon 15 years of development at Colorado State University and with support from the National Renewable Energy Laboratory, Abound Solar has developed a robust, commercial-scale, continuous process for producing solar modules that significantly reduces the cost of generating solar electricity. Abound Solar entered full-scale commercial production of its low-cost, thin-film solar modules at its first factory in Colorado in November of 2009 and is shipping to customers around the world. For additional information, visit http://www.abound.com.

About Key Equipment Finance

Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. The company focuses on four distinct markets:

Headquartered outside Denver, Colorado, Key Equipment Finance manages nearly $11 billion in assets and originates approximately $3 billion of equipment annually. The company has major management and operations bases in Albany, New York; London, England; Hong Kong, China and Sydney, Australia. The company, which supports clients in over 40 countries, employs approximately 700 people worldwide and has been in the equipment financing business for over 35 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at www.KEFonline.com.

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $93.3 billion. BusinessWeek magazine named Key the top bank in its Customer Service Champ 2009 edition, ranking Key 11th out of the top-25 companies that include many known for their customer service acumen. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.key.com/.