Solar3D Completes Third Generation Working Prototype
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Solar3D, Inc. (OTCQB: SLTD), a leading solar power company and the developer of
a proprietary high efficiency solar cell, today announced the successful
fabrication and operation of the working third generation working prototype of
its 3-dimensional silicon solar cell.
Dr. Changwan Son, Solar3D's Director of Technology, commented, "We are pleased
to have completed our next prototype. We are very encouraged by our lab results
and have concluded that it is time to prepare to take the next step toward
commercialization by working with a manufacturer partner."
"Our technology team has worked very hard on this product," said Jim Nelson, CEO
of Solar3D. "Two powerful characteristics of our 3D Solar Cell make it superior
to current technology. First, it is substantially more efficient in producing
power. Second, is our wide-angle light collection feature, which allows our 3D
Solar Cell to collect light at all times of the day, month and year, an
attribute unique in the solar world. Our early computer simulation analysis
indicated that the combination of these two features would produce double the
power of a conventional solar cell. Our early indication is that we will be able
to meet that ambitious goal. This device could be a giant leap forward, allowing
solar power to achieve grid parity."
Dr. Son continued, "Our mandate was to create a solar cell that would produce
substantially more power than the current technology at a low enough cost of
production to deliver a considerably lower cost per watt of solar electricity.
Now, we intend to partner with a manufacturer who can take us to the last step
-- final commercialization and manufacturing."
Mr. Nelson concluded, "We anticipate combining the last steps with one partner
who will be able to produce a manufacturing prototype, do a test run, and go
commercial. This approach will simplify the development process considerably.
Finding the right partner is our goal. We are currently holding conversations
with several potential partners, including large domestic and international
manufacturers."
To learn more about Solar3D, visit our website at www.Solar3D.com.
About Solar3D, Inc.
Solar3D is a leading provider of solar power solutions and the developer of a
proprietary high efficiency solar cell. The company's SUNworks division focuses
on the design, installation and management of solar power systems for
commercial, agricultural and residential customers. SUNworks is one of the
fastest growing solar systems providers in California and has delivered hundreds
of 2.5 kilowatt to 1-megawatt commercial systems and has the capability of
providing systems as large as 25 megawatts. Solar3D's technology division is
developing a patent-pending 3-dimensional solar cell technology to maximize the
conversion of sunlight into electricity. The Solar3D Cell collects sunlight from
a wide angle and lets light bounce around in 3-dimensional microstructures on
the solar cell surface. The Company's mission is to further the widespread
adoption of solar power by deploying affordable, state-of-the-art systems and
developing breakthrough new solar technologies.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. When
used in this press release, the words "anticipate," "believe," "estimate,"
"may," "intend," "expect" and similar expressions identify such forward-looking
statements. Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the forward-looking statements
contained herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks and
uncertainties. These risks include, but are not limited to, risks and
uncertainties associated with: the impact of economic, competitive and other
factors affecting the Company and its operations, markets, products, and
prospects for sales, failure to commercialize our technology, failure of
technology to perform as expected, failure to earn profit or revenue, higher
costs than expected, persistent operating losses, ownership dilution, inability
to repay debt, failure of acquired businesses to perform as expected, the impact
on the national and local economies resulting from terrorist actions, and U.S.
actions subsequently; and other factors detailed in reports filed by the
Company.
FOR FURTHER INFORMATION PLEASE CONTACT:
Press Contact:
Jim Nelson
jnelson@solar3d.com
805/690-9000
