|By Marketwired .||
|February 12, 2014 03:02 AM EST||
SANTA BARBARA, CA -- (Marketwired) -- 02/12/14 -- Solar3D, Inc. (OTCQB: SLTD), the developer of a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity, today commented on the detailed optimization of the elements of the third prototype of its next generation technology.
"It is very exciting to enter the final phase of the fabrication of third generation prototype of our powerful new solar cell," said Jim Nelson, CEO of Solar3D. "This effort has taken more time than our previous two prototypes because we are combining all the research and experimentation that we have utilized so far to create the best possible version of our technology. This final testing phase will assure that each element of the cell will be optimized to produce the maximum power."
The company's technology team anticipates that its third generation prototype will be less expensive to manufacture and result in more powerful performance than the previous versions. The initial 2012 prototype design was calculated to produce just over 25% efficiency, the highest of any silicon solar cell. Even more important was an originally unanticipated feature -- wide-angle light collection -- allowing for the generation of electricity throughout more times of the days and seasons. This feature increases the length of time during which light can be effectively converted into electricity, relative to current technology. Current technology is most effective for a few hours in the middle of the day.
Changwan Son, Director of Technology, commented, "It is a complex process to get all of the elements to work together perfectly. But once we have refined the process, we believe that the Solar3D Cell can be produced using high-speed manufacturing processes in existing facilities that will replicate the harmony of the elements. By combining low cost manufacturing and high conversion efficiency, we hope to make solar power affordable for a variety of applications."
Nelson concluded, "This is the ultimate mission of Solar3D: to provide affordable solar power to the world. We are getting closer to having a Solar3D Cell that will allow us to accomplish our mission. It is exciting to see that light at the end of our tunnel."
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.
To learn more about Solar3D, 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 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.
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