NR from Natcorehttps://www.prnewswire.com/news-releases/rep-slaughter-encourages-natcore-technology-to-locate-facility-in-kodaks-business-park-115552614.html
Rep. Slaughter Encourages Natcore Technology to Locate Facility in Kodak's Business Park
Solar innovator would adapt roll-to-roll photo film machinery to manufacture thin-film solar cells
RED BANK, N.J., Feb. 8, 2011 /PRNewswire/ -- Congresswoman Louise Slaughter (NY-28) has announced that negotiations are under way to bring a New Jersey solar technology company to Kodak's Eastman Business Park, and with it the promise of more green jobs in Rochester.
Slaughter has been working with Natcore Technology Inc. (TSX-V: NXT; Pink Sheets: NTCXF),whose technology would enable the manufacture of flexible solar cellsthat could reduce the cost of making solar panels and the time requiredto install solar arrays by more than 60%. Based in Red Bank, NJ, Natcore does not have a presence in upstate New York.But seeing that Eastman Business Park would be a perfect fit to meetNatcore's research, development, and manufacturing needs, Slaughter hasjoined Kodak in trying to establish a future production facility andNatcore's research lab in Rochester.
"I have beenamazed by the solar technology being developed by Natcore because I seethe potential it has to make solar energy more efficient and cleaner toproduce," said Slaughter. "In Rochester, we are all familiar with thetechnological expertise and manufacturing knowhow on the Kodak campus.If we can pair their capabilities with the emerging technology beingdeveloped by Natcore, we can bring the green jobs of tomorrow to Rochester. I see Natcore and Kodak to be an ideal fit and I'm happy to do everything I can to bring these companies together."
On the heels ofPresident Obama's call in his State of the Union Address to grow U.S.innovation, Slaughter also personally called on the Obama Administrationand the U.S. Energy Department to work with Natcore so that it canestablish a Rochester manufacturing center. In previous expansion initiatives, Natcore has formed a joint venture with companies in Chinabut Slaughter is encouraging them to manufacture their flexible solarcells in the U.S. so that the technology created in America ismanufactured in America.
"We are deeply committed to keeping our technology in our own country," says Natcore President and CEO Chuck Provini."So far it's been difficult to accomplish that. Now CongresswomanSlaughter has injected a burst of energy on our behalf with the WhiteHouse, the DOE and Kodak. We are deeply grateful for her vision andpersistence. Although typically our business plan has us licensing ourtechnology rather than producing the cells ourselves, a joint venturewith Kodak might be an exception. Their roll-to-roll photo filmproduction equipment could be easily adapted for our flexible solar celltechnology."The details of a Kodak–Natcore undertaking are still to be worked out, according to Provini.At present, Natcore is neither manufacturing nor licensing its technology anywhere.
Kodak is aleader in chemical, thin film, and coating capabilities, all corecompetencies needed for the production of photovoltaic solar cells.
"No one knows more about manufacturing film products than Kodak," said Mike Alt,Director of Eastman Business Park. "Kodak has developed thin filmtechnology that is directly applicable to the next generation ofphotovoltaic panels. At Eastman Business Park, we have the technicalresources, development and pilot tools, and the manufacturing capacityto accelerate the commercialization of new technologies, such asNatcore's roll-to-roll solar cell process."
Natcore mayalso establish an R&D lab at Eastman Business Park where it wouldaccelerate its development of tandem solar cells using Natcore'sproprietary liquid phase technology. These super-efficient cells couldyield twice the power output of today's most efficient solar cells.
Due toSlaughter's intervention, Department of Energy officials are meetingwith Natcore to assess possible programs to help fund the development ofa manufacturing operation at Eastman Business Park.
Statementsherein other than purely historical factual information, includingstatements relating to revenues or profits, or Natcore's future plansand objectives, or expected sales, cash flows, and capital expendituresconstitute forward-looking statements. Forward-looking statements arebased on numerous assumptions and are subject to all of the risks anduncertainties inherent in Natcore's business, including risks inherentin the technology history. There can be no assurance that suchforward-looking statements will prove to be accurate, as actual resultsand future events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onsuch statements. Except in accordance with applicable securities laws,Natcore expressly disclaims any obligation to update any forward-lookingstatements or forward-looking statements that are incorporated byreference herein.
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
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Contact: Chuck Provini [for Natcore]
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732-576-8800
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Info@natcoresolar.com
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Contact: Victoria Dillon [for Rep. Slaughter]
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202-225-2888
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SOURCE Natcore Technology Inc.
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