SANTA BARBARA, CA--(Marketwired - Apr 17, 2013) - Solar3D, Inc. (
"China and the US represent an enormous share of the world's future demand for solar cells over the next two to three decades," said Jim Nelson, CEO of Solar3D. "By protecting our intellectual property in China, in addition to the existing protection we have in the US, Solar3D will have exclusive access to these important markets for our breakthrough technology."
Nelson continued, "The recent news of major solar companies investing in smaller company efficiency innovations confirms that we are on the right track for the future of this market."
Inspired by light management techniques used in fiber optic devices, the company's innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons -- resulting in very high efficiency and light collection throughout the day. Solar3D's working, proof-of-concept prototype of its innovative solar cell has prepared the firm to focus on the new product's commercialization -- developing an advanced manufacturing prototype, executing a pilot production run, and identifying a fabrication partner that will mass produce the product and take it commercial.
The results of the initial tests of the original prototype have been very encouraging. However, the company's technical team continues to make improvements. Version 2.0 of the Solar3D cell is currently being built in the lab.
"Our objective is grid parity or better," Nelson continued. "By re-engineering the solar cell to manage the light and extract more of its available power, we have made a product that: (1) is significantly more efficient, (2) can collect light from wide angles and (3) is production friendly. The end result is a solar cell that will deliver more electricity at a substantially reduced cost per kilowatt hour."
Nelson concluded, "Our 3-dimensional, highly efficient solar cell is a game changing technology which we know works. It will only get better from here. Protecting the technology in China, together with the US, assures us that we have access to markets worth billions of dollars."
About Solar3D, Inc. Solar3D, Inc. is developing a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. Up to 30% of incident sunlight is currently reflected off the surface of conventional solar cells, and more is lost inside the solar cell materials. Inspired by light management techniques used in fiber optic devices, our innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons. An innovative wide-angle light collection feature on the cell surface allows for the collection of sunlight over a range of angles during the day. This next generation solar cell will be dramatically more efficient, resulting in a lower cost per watt that will make solar power affordable for the world. To learn more about Solar3D, please visit our website at http://www.Solar3D.com .
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 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, product, and distributor performance, 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.
Press Contact : Jim Nelson Email Contact 805/690-9000
