Natcore Technology Inc.

Natcore Technology Inc.

December 18, 2009 09:00 ET

Natcore Achieves Key Milestone in Initial Testing at Ohio State University

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2009) - Natcore Technology Inc. (TSX VENTURE:NXT) ("Natcore" or the "Company") is pleased to announce successful initial testing results from the Company's liquid phase deposition (LPD) research and development program being conducted in the facilities of Ohio State University.

Specifically, Natcore Technology researchers working at Ohio State University have demonstrated that Natcore's room-temperature, LPD silicon dioxide antireflection (AR) coating is the complete equivalent of the elevated-temperature CVD coatings used by the industry today. Importantly, however, the Natcore process produces the coatings at a significant reduction in cost.

Natcore's scientists used the Company's process to deposit a single-layer AR coating with a reflectance minimum of less than 8% for wavelengths of light in the range of values that maximize the output of a standard silicon solar cell. This performance equals or exceeds industry-standard single-layer AR coating performance for this material.

"We hit the target on what is essentially our first try in the program at Ohio State," notes Chuck Provini, Natcore's president and CEO. "We've already achieved industry standard levels for anti-reflectance, and we fully expect to significantly improve the results with further refinement of our LPD process in the near future. Moreover, these results provide the final testing data needed for potential joint-venture partners, and we intend to proceed aggressively along this front."

Brien Lundin, Natcore's Chairman, adds that, "It is particularly gratifying that this R&D program is being conducted with personnel and facilities previously employed by NewCyte, Inc. Natcore's acquisition of NewCyte is thus providing early dividends, and we're excited about continuing to leverage these assets to more-rapidly advance our technology."

On behalf of the Board of Directors,

"Charles Provini"
President & Chief Executive Officer

Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or the Company's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

This press release does not constitute an offer to sell or a solicitation to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("the U.S. Securities Act") or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Natcore Technology Inc.

Natcore Technology is the exclusive licensee, from Rice University, of a thin-film growth technology enabling room-temperature growth of various silicon oxides on silicon wafers in a liquid phase deposition (LPD) process. Although the implications of this discovery for semiconductors and fiber optics are significant and wide-ranging, the technology has immediate and compelling applications in the solar sector. Specifically, the Company's LPD process could enable silicon solar cell manufacturers to significantly reduce manufacturing costs and increase throughput, and has the potential to allow, for the first time, mass manufacturing of super-efficient (30%+) tandem solar cells with double the power output of today's most efficient devices.

Having been independently tested and verified by one of the world's most respected science and technology laboratories, Natcore's technology is now in the process of being commercialized. Our goal: to make stand-alone solar energy competitive with conventional power generation.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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