|By Marketwired .||
|August 19, 2014 03:03 AM EDT||
SANTA BARBARA, CA -- (Marketwired) -- 08/19/14 -- Solar3D, Inc. (OTCQB: SLTD), a leading solar power company and the developer of a proprietary high efficiency solar cell, today announced it is in the process of nationalizing its Patent Cooperation Treaty (PCT) patent application for the production of its proprietary high efficiency solar cell in four strategic countries -- the United States, China, Singapore, and India.
The Patent Cooperation Treaty (PCT) is an international treaty subscribed to by most industrialized nations. The PCT patent application allows the patent applicant to file a single patent application (often called a PCT patent application), and then later choose which PCT subscribing countries to nationalize in. Once nationalized in a particular country, the PCT patent application is treated by that country as a patent application filed directly in that country on the same date that the PCT patent application was filed, and is taken up for examination in accordance with the laws and practices of that country.
Solar3D has chosen the United States, China, Singapore, and India to nationalize in based on their prominence in the global solar manufacturing ecosystem. These countries all have experienced explosive solar energy growth: China, which is responsible for approximately 64% of global solar panel production; India, which according to KPMG, could install 100 gigawatts of solar capacity by 2030; Singapore, which hosts some of the world's largest solar panel manufacturers; and the United States, where its solar industry had a record breaking year in 2013.
Once nationalized, the patent application seeks to protect Solar3D's solar cell technology that is expected to be less expensive to manufacture and result in more powerful performance than the previous versions. The company's initial 2012 prototype design was calculated to produce just over 25% efficiency, the highest of any silicon solar cell. The solar cell also features wide-angle light collection, allowing for increased electricity generation during more hours of the day and during darker seasons. This feature increases the length of time during which light can be effectively converted to electricity, relative to current technology, which is generally effective for only a few hours in the middle of the day.
"As Solar3D continues to expand both its SUNworks operating division and its Solar3D solar cell technology division, we recognize the need to protect our intellectual property," said Jim Nelson, CEO of Solar 3D. "Among others, the United States, China, Singapore, and India all host companies that Solar3D has identified as potential manufacturing partners. Once nationalized in these countries through the PCT application, we will have accomplished the most effective and cost-efficient means of achieving these patents. This necessary step provides the framework for the manufacturing process as the Solar3D cell continues to make technological advancements in the laboratory."
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.