|By Business Wire||
|September 18, 2012 03:01 AM EDT||
BioSolar, Inc. (OTCBB: BSRC), developer of breakthrough products and materials that reduce the cost of photovoltaic (PV) solar modules, today announced that it has commenced development of EcoBacksheet, the company’s second backsheet product. EcoBacksheet will be designed to be both environmentally friendly and lower cost in order to capture a significant share of the rapidly growing solar market.
Dr. Stanley Levy, the company’s Chief Technology Officer, commented, “EcoBacksheet will incorporate much of the company’s proprietary knowledge accumulated during development of BioBacksheet, which is currently available for commercial sale. EcoBacksheet will incorporate a unique set of new materials and processing techniques to further reduce the cost of backsheet materials for PV panel manufacturers. EcoBacksheet is expected to appeal to a substantially wider range of PV panel applications due to its lower price point.”
BioSolar recently announced that it had completed all the UL certifications required for the commercial sale of BioBacksheet and had entered into a contract manufacturing agreement with Stevens Urethane, a high quality, high volume commercial manufacturer, to produce BioBacksheet. BioSolar is now working closely with several key solar manufacturers to integrate BioBacksheet into their solar panels.
BioSolar’s patented BioBacksheet is the world’s first UL certified solar panel backsheet made from renewable materials and features two distinct benefits that are unmatched by existing backsheets. First, BioBacksheet’s high thermal conductivity rapidly draws heat away from the solar cells, which can increase the power output of the entire solar panel. Second, BioBacksheet’s USDA BioPreferred Certification allows solar panels to be marketed as more sustainable and socially responsible, and preferred by U.S. government agencies.
“Our development team has proven its ability to successfully develop a unique product for the solar market,” said Dr. David Lee, the company’s CEO. “Our goal now is to leverage this core competency to develop a more extensive line of breakthrough products and materials for the rapidly growing solar market.”
About BioSolar, Inc.
BioSolar, Inc. develops breakthrough products and materials that reduce the cost of photovoltaic (PV) solar modules. Most of the solar industry is focused on photovoltaic efficiency to reduce cost. BioSolar is the first company to introduce a new dimension of cost reduction by replacing petroleum-based plastic solar cell components with durable bio-based materials. BioBacksheet, the company’s first backsheet product, is currently available to solar manufacturers. BioSolar is now developing EcoBacksheet, its second backsheet product that will further reduce the cost of solar energy. To learn more about BioSolar, please visit our website at http://www.biosolar.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.