|By Marketwired .||
|July 24, 2014 12:17 PM EDT||
SANTA BARBARA, CA--(Marketwired - July 24, 2014) - 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 http://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.