October 26, 2007
GroupGemstone Announces Investment in Cool Earth Solar

GroupGemstone announced today that it has funded an investment in Cool Earth Solar, a designer and manufacturer of high concentrator photovoltaic (CPV) systems. Cool Earth recently completed the successful close of its first round of financing, which will be used for the continued development of the company's technology.

Cool Earth Solar develops and builds solar concentrator photovoltaic (CPV) systems intended for utility scale application. By radically reducing the material and weight of CPV, Cool Earth Solar has developed a cost effective power plant design that can compete economically with conventional fuels. Cool Earth Solar is the First Runner-Up of the 2006 California Clean Tech Open.

The GroupGemstone family of companies operates in Real Estate Development, and invests in entertainment and technology private equity. GroupGemstone was founded and is operated by Alexander Edelstein, and is based in Las Vegas.

About the Developer
Gemstone Development, the developer of ManhattanWest, is one of the most prolific condominium developers in Las Vegas. Gemstone's previous project, Manhattan Condominiums, was the first new mid-rise condominium to be built in Las Vegas since 2002, and at $230 million dollars is one of the largest mid-rise projects in Las Vegas. Manhattan Condominiums sold out its initial 700 units, and recently has finished construction on its last building. Gemstone delivers unique, state-of-the-art features such as its ManhattanTransfer® errand service and ManhattanMD® medical services. Gemstone Development was founded by Alexander Edelstein in 2003. ManhattanWest can be viewed on the web at ManhattanWest.com. Gemstone can be reached on the web at: GemstoneDev.com.

Contact:
Mark Chatow
Gemstone Development, LLC
702.614.3193
markc@gemstonedev.com
www.gemstonedev.com

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