Forward-Looking Language

About Advanced Energy

About PV Powered

For more information, contact:

Advanced Energy to Report First Quarter 2010 Financial Results on April 22

FORT COLLINS, Colo., April 7, 2010—Advanced Energy Industries, Inc. (Nasdaq: AEIS) will release first quarter 2010 financial results on Thursday, April 22, 2010. Management's quarterly company update will also be held on April 22, 2010, beginning at 3:00 p.m. Mountain Time/ 5:00 p.m. Eastern Time.

To participate in the live conference call, dial 888-713-4717 approximately five minutes prior to the start of the meeting, and an operator will connect you. International participants should dial 816-650-2836. Participants will need to provide the operator with conference pass code 67518997, which has been reserved for this call.

A live and archived webcast of the call will also be available on the company’s website. To access the webcast, visit the Investor Relations section of Advanced Energy’s corporate website at http://ir.advanced-energy.com, and link to the Q1 2010 Webcast on the Investor Relations Home Page. The archived webcast will be available at the same location approximately two hours following the end of the live event.

A telephone replay will be available for 48 hours following the webcast. To access the replay, dial 800-642-1687 or 706-645-9291 and enter conference pass code 67518997.

About Advanced Energy

Advanced Energy is a global leader in innovative power and control technologies for high-growth markets, including advanced thin-film manufacturing and commercial grid-tied inverters for solar-power generation. Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

Advanced Energy Announces Acquisition of Solar Inverter Provider, PV Powered

Fort Collins, Colo., March 24, 2010 – Advanced Energy Industries, Inc. (Nasdaq GM: AEIS) today announced it has signed a definitive agreement to acquire PV Powered Inc., a leading manufacturer of grid-tied PV inverters in the residential, commercial, and utility-scale markets. The acquisition is expected to add an estimated $40-50 million to Advanced Energy’s 2010 revenues and be neutral to marginally dilutive to GAAP net income in 2010.

“We are very excited to announce this acquisition and believe the combination of Advanced Energy and PV Powered will continue our strong momentum in the inverter market, propelling us forward as a leading manufacturer of solar inverters in North America. The addition of PV Powered’s transformer-based inverters with power levels below 500kw for the small to mid range commercial inverter market allows Advanced Energy to target a portion of the market that we have not yet addressed. As a combined company, our comprehensive portfolio of both transformerless and transformer-based inverter products will serve the entire spectrum of commercial project sizes from 30kw to multi-megawatt utility installations, placing us firmly at the heart of the emerging and fast-growing solar inverter market,” said Hans Betz, chief executive officer of Advanced Energy.

PV Powered is an innovation leader for high-reliability transformer-based PV inverters utilized in commercial roof top and ground mount systems in the North American market. Founded in 2003 and based in Bend, Oregon, PV Powered is a privately held company with approximately 90 employees and $21 million of revenues in 2009. Its inverters range in size from 30kw to 260kw for the commercial market and 1kw to 5kw for the residential market, with market leading efficiency ratings. PV Powered’s experienced inverter engineering team has continuously optimized the performance and reliability of its inverters allowing PV Powered to offer the industry’s first standard 10 year product warranty and optional 20 year extended warranty.

"The employees and management of PV Powered are extremely excited at the prospect of joining Advanced Energy,” said Gregg Patterson, chief executive officer of PV Powered. “PV Powered and Advanced Energy have a collective history of industry innovation, driven by a commitment to power conversion efficiency and inverter reliability that leads the market. Both organizations share a common mission to deliver the lowest levelized cost of energy and the highest levels of customer satisfaction. Together, we can offer the broadest technology and product portfolio in the industry.”

Under the agreement, Advanced Energy will acquire PV Powered for a purchase price of up to $90 million consisting of $50 million to be paid at closing in the form of $35 million in cash and $15 million in Advanced Energy’s common stock, as well as up to $40 million in a potential earn-out based on PV Powered’s full year 2010 financial results. The transaction will be subject to a number of other customary closing conditions and regulatory approvals including Hart Scott Rodino. Throughout 2010, PV Powered will operate as a wholly-owned subsidiary, continuing to sell and support its PV Powered branded inverters.

Currently, we anticipate sales of PV Powered’s inverter to contribute as much as $40M-$50 million to Advanced Energy’s 2010 revenue. Of that, we expect $30-35 million to come from sales to the commercial market and $10-15 million from the residential market. We anticipate gross margins on these products to be in the range of 26-29% and have additional operating expenses of $3-4 million.

Needham & Company, LLC acted as the financial advisor and provided a fairness opinion to Advanced Energy related to this transaction.

Conference Call

Management will host a conference call today, March 24, 2010, at 2:00 pm Eastern Daylight Time to discuss the acquisition. Domestic callers may access this conference call by dialing (888) 713-4717. International callers may access the call by dialing (816) 650-2836. Participants will need to provide a conference passcode 64949878. For a replay of this teleconference, please call (800) 642-1687 or (706) 645-9291, and enter the passcode 64949878. The replay will be available through 11:59 pm Eastern Daylight Time, March 26, 2010. A webcast will also be available on the Investor Relations webpage at http://ir.advanced-energy.com.

Forward-Looking Language

Statements in this press release and information discussed on the related conference call concerning the proposed transaction and future business, operating and financial condition of the company and PV Powered, including expectations regarding revenues, gross margins, and operating expenses for future periods, including achievement of the milestones subject to the earn-out under the merger agreement are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to: satisfaction of the closing conditions under the definitive agreement and the successful closing of the acquisition of PV Powered, the amount of the final purchase price, and the successful integration of the operations of Advanced Energy and PV Powered following the closing and our expectations surrounding the benefits of the transaction; as well as the effects of global macroeconomic conditions upon demand for our products, the volatility and cyclicality of the industries the company serves, particularly the semiconductor industry, the timing of orders received from customers, the company's ability to realize cost improvement benefits from the global operations initiatives underway, and unanticipated changes to management's estimates, reserves or allowances. These and other risks are described in Advanced Energy's Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission. These reports and statements are available on the SEC's website at www.sec.gov. Copies may also be obtained from Advanced Energy's website at www.advancedenergy.com or by contacting Advanced Energy's investor relations at 970-407-6555. Forward-looking statements are made and based on information available to the company on the date of this press release. The company assumes no obligation to update the information in this press release.

About Advanced Energy

Advanced Energy is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Specifically, Advanced Energy targets solar grid-tie inverters, solar cells, semiconductors, flat panel displays, data storage products, architectural glass and other advanced applications. 

About PV Powered

PV Powered is the innovation leader for grid-tied PV inverters in the residential, commercial and utility markets, setting the industry standard for innovation in reliability and efficiency. Founded in Bend, Oregon in 2003 and privately owned, the company brings together one of the most experienced design teams in solar power electronics. PV Powered was recently selected to receive a Stage 2 award under the Solar Energy Grid Integration System (SEGIS) program by the U.S. Department of Energy (DOE). The company is leading a team of recognized distributed energy and smart grid partners in developing innovations that increase energy harvest, reduce the cost of PV systems, and remove barriers to high levels of PV grid penetration. For more information on the company, visit www.pvpowered.com.

Advanced Energy Announces Strong Growth and Profitability in Fourth Quarter Results

Fort Collins, Colo., February 16, 2010—Advanced Energy Industries, Inc. (Nasdaq GM: AEIS) today announced financial results for the fourth quarter ended December 31, 2009.

Sales for the fourth quarter of 2009 increased 28.4% to $66.4 million from $51.8 million in the third quarter of 2009, and decreased 1.6% from $67.5 million in the fourth quarter of 2008.

Sales to the semiconductor capital equipment markets rose 58.2% sequentially to $32.9 million, representing 49.6% of total sales for the quarter. Sales to the non-semiconductor markets grew 8.6% sequentially to $22.0 million, representing 33.2% of total sales for the quarter. Service revenue also continued strong, increasing 7.6% sequentially to $11.5 million or 17.3% of total sales for the quarter. Bookings for the fourth quarter were $98.0 million, which drove our book to bill ratio to 1.48:1, up from 1.16:1 in the third quarter of 2009. Ending backlog increased 91.2% sequentially to $66.2 million at the end of the fourth quarter compared to $34.6 million at the end of the third quarter of 2009.

Gross margin improved significantly to 36.8% in the fourth quarter, up from 30.1% in the third quarter of 2009 and 27.2% for the fourth quarter of 2008. The sequential improvement was driven largely by leverage against our fixed costs from the increase in revenues.

Fourth quarter net income was $1.5 million or $0.04 per diluted share, compared to a net loss of $8.4 million or a loss per share of $0.20 in the third quarter of 2009. In the fourth quarter of 2008, the net loss was $19.0 million or a loss per share of $0.45, the vast majority of which was a non-cash charge of $18.0 million for income taxes related to a valuation allowance against our deferred tax assets. We are pleased to report that we ended 2009 with cash, cash equivalents and investments of $177.5 million, a decline of just $2.6 million due to our careful cash management during the year.

For the full year 2009, sales were $186.4 million, 43.3% below sales of $328.9 million in 2008. The challenging economic environment impacted sales across all markets, most notably in the semiconductor capital equipment market where sales fell 43.1% from 2008. Net loss from operations for 2009 was $102.7 million, or a loss per share of $2.45. More than half of this was due to a non-cash goodwill impairment charge in the first quarter of 2009 of $63.3 million or $1.51 per share. Net loss for 2008 was $1.8 million or $0.04 per diluted share.

“The fourth quarter marked a high point in 2009, as we grew revenues and achieved profitability by leveraging the cost reductions taken during the year,” said Hans Betz, chief executive officer. “The pace of the recovery in the semiconductor capital equipment market ramped significantly in the quarter, as did the penetration of our Solaron inverters into larger, multi-megawatt projects. When the global economy recovers, we expect to benefit from the investments we made in technology during the downturn and our growth in multiple markets.”

First Quarter 2010 Guidance

• Sales of $77 million to $83 million
• Earnings per share of $0.13 to $0.17

Fourth Quarter 2009 Conference Call

About Advanced Energy

           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                     (in thousands, except per share data)

                                Three Months Ended       Twelve Months Ended
                            -----------------------------  -------------------
                              December 31,   September 30,    December 31,
                            2009       2008      2009       2009       2008
                            ----       ----      ----       ----       ----

    Sales                 $66,439    $67,525   $51,762   $186,395   $328,918
    Cost of sales          41,972     49,128    36,181    132,028    204,136
                           ------     ------   -------    -------    -------
    Gross profit           24,467     18,397    15,581     54,367    124,782
                             36.8%      27.2%     30.1%      29.2%      37.9%
    Operating expenses:
      Research and
       development         11,227     13,424    10,195     43,262     54,952
      Selling, general
       and administrative  11,135      9,513    10,788     41,484     52,273
      Impairment of
       goodwill                 -          -         -     63,260          -
      Amortization of
       intangible assets      148        257       123        613        946
      Restructuring
       charges                  6      1,898       235      4,376      3,487
                           ------     ------   -------    -------    -------
        Total operating
         expenses          22,516     25,092    21,341    152,995    111,658

    Income (loss) from
     operations             1,951     (6,695)   (5,760)   (98,628)    13,124

    Other income, net         495        553       506      1,910      2,883
                           ------     ------   -------    -------    -------
    Income (loss) from
     operations before
     income taxes           2,446     (6,142)   (5,254)   (96,718)    16,007
    Provision for
     income taxes             923     12,835     3,177      5,987     17,786
                           ------     ------   -------    -------    -------

    Net income (loss)      $1,523   $(18,977)  $(8,431) $(102,705)   $(1,779)
                           ======     ======   =======    =======    =======

    Basic earnings
     (loss) per share       $0.04     $(0.45)   $(0.20)    $(2.45)    $(0.04)

    Diluted earnings
     (loss) per share       $0.04     $(0.45)   $(0.20)    $(2.45)    $(0.04)

    Basic weighted-
     average common
     shares outstanding    42,032     41,832    42,004     41,966     42,537

    Diluted weighted-
     average common
     shares outstanding    42,464     41,832    42,004     41,966     42,537



                     CONDENSED CONSOLIDATED BALANCE SHEETS
                              (in thousands)

                                                       December 31,
                                                 ----------------------
                                                 2009              2008
                                                 ----              ----
    ASSETS

    Current assets:
         Cash and cash equivalents             $133,106          $116,448
         Marketable securities                   44,401            33,266
         Accounts receivable, net                50,267            56,549
         Inventory                               37,118            46,659
         Deferred income taxes, net               9,215            13,253
         Other current assets                     5,640             5,324
                                               --------          --------
    Total current assets                        279,747           271,499

    Property and equipment, net                  30,615            31,322

    Long-term investments                             -            30,401
    Deposits and other                            9,294             7,528
    Goodwill and intangibles, net                 5,982            72,918
    Deferred income taxes, net                   19,487             6,969
                                               --------          --------
    Total assets                               $345,125          $420,637
                                               ========          ========
    LIABILITIES AND STOCKHOLDERS' EQUITY

    Current liabilities:
         Accounts payable                       $23,802            $8,005
         Other accrued expenses                  24,176            23,928
                                               --------          --------
    Total current liabilities                    47,978            31,933

    Long-term liabilities                        18,813            12,155
                                               --------          --------
    Total liabilities                            66,791            44,088

    Stockholders' equity                        278,334           376,549
                                               --------          --------
    Total liabilities and
     stockholders' equity                      $345,125          $420,637
                                               ========          ========

Advanced Energy^® Solaron^® PV Inverters Selected for San Francisco Sunset Reservoir 5 MW Solar Project

Industry-Leading Efficiency Ratings and Lowest LCOE Fuel Momentum for Solaron

FORT COLLINS, Colo., Feb. 11, 2010—Advanced Energy Industries, Inc. (NasdaqGM: AEIS), today announced its Solaron^® PV inverters have been selected to power the San Francisco Sunset Reservoir 5 MW solar project. The project was awarded to Advanced Energy by Recurrent Energy, an independent power producer and a leading developer of solar power projects. Recurrent Energy will own and operate the solar power system, and is developing the project in partnership with the San Francisco Public Utilities Commission. The Solaron PV inverters were selected due to their record-setting efficiency ratings, field-proven LCOE (Levelized Cost Of Energy) advantages, and Advanced Energy’s outstanding customer service.

Dr. Hans Betz, chief executive officer of Advanced Energy, noted, “We are proud to be selected by Recurrent Energy to collaborate with them on this landmark project. Advanced Energy’s Solaron PV inverters have a strong reputation for optimized efficiency and the highest level of reliability for large-scale utilities. The project demonstrates the City of San Francisco’s commitment to renewable energy, and we are pleased to be able to help them achieve their goals.”

The 5 MW solar plant is being constructed on the roof of San Francisco’s largest reservoir, located in the city’s Sunset district. Construction is scheduled to begin this winter and is expected to be completed in 2010. Upon completion, the project will consist of 25,000 solar panels that span approximately 12 acres, making it one of the country’s largest municipal solar projects. The system will more than triple the City’s available renewable energy which can be used at numerous municipal facilities, including the San Francisco Airport, MUNI light rail system, the General Hospital and city schools.

For more information on Advanced Energy’s Solaron inverter solutions, please visit www.aesolaron.com.

About Advanced Energy

Advanced Energy is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

Advanced Energy Lands Second-Phase Contract for Expanded 6 MW Solar Plant

Company’s Award-Winning Solaron^® PV Inverters Provide Lowest LCOE

FORT COLLINS, Colo., Feb. 2, 2010—Advanced Energy Industries, Inc. (NasdaqGM: AEIS), today announced that it has been awarded the second-phase contract for a newly expanded 6 MW solar plant installed at Aerojet’s corporate headquarters in Sacramento, CA. The Solaron PV inverters were selected by Solar Power, Inc. for the expansion because of their industry leading efficiency ratings, as well as their ability to deliver maximum power and lowest LCOE (Levelized Cost Of Energy).

Dr. Hans Betz, chief executive officer of Advanced Energy, noted, “This expansion demonstrates the major strides that leading energy companies are making in accelerating the deployment of renewable energy solutions. Advanced Energy’s industry-leading technology and comprehensive support services have enabled us to provide compelling benefits to our customers in the commercial and utility markets.”

After the successful commissioning of the original 3.6 MW site in November, Solar Power, Inc. announced a 2.4 MW expansion, bringing the total capacity of the site to 6 MW. The expansion is expected to be completed in April 2010, and will make the Aerojet site the single largest industrial installation in the State of California, and one of the largest in the U.S. Electricity generated from the new site will provide just over 10 percent of electricity demand for the Aerojet facility, as well as provide clean, solar energy to the greater Sacramento district. The project was developed in partnership with Solar Power, Inc. as well as with Aerojet, the Sacramento Municipal Utility District (SMUD) and HEK, LLC.

For more information on Advanced Energy’s Solaron inverter solutions, please visit www.aesolaron.com.

About Advanced Energy

Advanced Energy is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

Advanced Energy Signs Strategic PV Solar Service Agreement for Colorado State University's New, 2 MW Solar Plant

Company’s SiteGuard^SM Service Program Designed to Increase Uptime and Lower LCOE

About AMEC

AMEC (LSE: AMEC) is a focused supplier of high-value consultancy, engineering and project management services to the world’s natural resources, nuclear, clean energy, water and environmental sectors. With annual revenues of over $4.2 billion, AMEC designs, delivers and maintains strategic and complex assets for its customers. AMEC's Natural Resources, Power & Process and Earth & Environmental businesses employ almost 22,000 people in around 40 countries worldwide. www.amec.com

About Advanced Energy

Advanced Energy is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

For information about the Advanced Energy Solaron platform, visit www.aesolaron.com.