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SunPower's Dr. Richard Swanson Named Recipient of Wall Street Journal Technology Innovation Award

SAN JOSE, Calif., Oct 17, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Dr. Richard Swanson, president and chief technology officer of SunPower Corporation, will be honored tonight at the third global Wall Street Journal Technology Innovation Awards. Swanson is recognized for his outstanding achievements in the advancement of solar cell development.

Swanson is one of the world's most-recognized leaders in the advancement of photovoltaics (PV), or solar electric technology, and a pioneer in commercializing cost-effective PV power systems. Earlier this year, he was honored with the prestigious Becquerel Prize for Outstanding Merits in Photovoltaics, and in 2002 Swanson was presented with the William R. Cherry Award by the IEEE for outstanding contributions to the photovoltaic field.

"On behalf of SunPower, I am truly honored to receive this award," said Swanson. "Solar power is within five to ten years of becoming mainstream in most of the developed world and it is very gratifying to be a part of this energy revolution."

Swanson founded SunPower in 1985 to develop and commercialize cost- effective, high-efficiency photovoltaic power systems. SunPower's all-back contact solar cells powered Honda to victory in the 1993 World Solar Challenge, and were also used to power Helios, NASA's high-altitude solar powered airplane to a world-record altitude of 96,500 feet. Swanson received the IR100 Award in 1995 for providing Honda and NASA with these record-setting solar cells.

The Wall Street Journal Technology Innovation Awards recognize technological breakthroughs by individuals, companies and organizations around the world in a wide range of areas, including energy and power, medicine and medical devices, wireless, security, consumer electronics, semiconductors and more. In selecting winners, the independent panel of judges considers whether the technology truly represents a breakthrough from conventional methods.

About SunPower

SunPower Corporation (Nasdaq: SPWR) designs and manufactures high- efficiency silicon solar cells and solar panels based on an all-back contact cell design. SunPower's solar cells and panels generate up to 50 percent more power per unit area than conventional solar technologies and have a uniquely attractive, all-black appearance. For more information on SunPower or solar technology, please visit the SunPower website at http://www.sunpowercorp.com. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).

Forward Looking Statement

Statements made in this release that are not historical in nature and that refer to SunPower's plans and expectations for the future, are forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. We use words such as "estimates," "anticipates," "believes," "expects," "future," "look forward," "planning," "intends" and similar expressions to identify such forward-looking statements. Our actual results may differ materially due a variety of factors, including but not limited to the risks identified in our filings with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to SunPower as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statement.

SunPower is a registered trademark of SunPower Corporation. Cypress is a registered trademark of Cypress Semiconductor Corp. All other trademarks are the property of their respective owners.

SOURCE SunPower Corporation

Julie Blunden, Vice President External Affairs, +1-408-240-5577, or Helen Kendrick,
Communications Manager, +1-408-240-5585, both of SunPower Corporation


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