Aurora Solar Technologies Inc.
TSX VENTURE : ACU

Aurora Solar Technologies Inc.

October 08, 2015 08:00 ET

Aurora Solar Technologies Provides Corporate Update

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2015) - Aurora Solar Technologies Inc. (TSX VENTURE:ACU) ("Aurora"), a leader in inline measurement and control technology for the photovoltaic manufacturing industry, is pleased to provide a corporate update, including orders to date and product developments. This update follows the company's announcements of our strategic partnership with h.a.l.m. elektronik in July, the successful completion of a $1.9 million financing in June, our commercial partnership with the SEMCO Group and our first multiple unit repeat order, both also in June.

Since its introduction in March 2015, Aurora has received six orders for the new Decima™ 3T high-density measurement system. The first of these systems, delivered in combination with our Aurora Veritas™ process visualization product, has been shipped and immediately passed all acceptance tests conducted by the customer. The remaining units will be shipped starting in October 2015.

In line with the company's strategy to continue to build revenue-producing partnerships with major process equipment vendors, the Decima 3T is also undergoing qualification testing for inline measurement of advanced cell designs that are now reaching the market. This includes exhaustive tests to determine the Decima's accuracy and repeatability and its ability to measure complex high-efficiency cell structures. In most of these test cases, competitive measurement devices in the market were unable to accurately measure these parameters. To date, all tests conducted with the Decima 3T have successfully demonstrated not only the ability to discern these important cell structures, but also to characterize them with unprecedented precision.

The company has also recently initiated technology development to increase the capability of its Veritas product to provide predictive analysis of diffusion furnace performance related to final cell efficiency. This predictive analysis would enable solar cell manufacturers to directly link variations in both raw material properties and diffusion furnace behaviour to variations in final cell efficiency. This is a critical step in increasing cell efficiency and decreasing costly end-of-line binning. In this work, the company has partnered with an industry leader in semiconductor material characterization and is in the process of developing related activities with major national research laboratories and universities in the United States and overseas.

"For the past year, our strategy has been to align our products with our equipment vendor partners, and this has been successfully reflected in our increased order activity during the past few months. With our ongoing product development, we are increasing this alignment and the business case for our end users," said Gordon Deans, Aurora's Chief Technology Officer. "We expect this to lead in turn to continued commercial development. Furthermore, we are pleased to see the very positive commercial trend in our sector, as evidenced by the most recent report from Semiconductor Equipment and Materials International (SEMI). According to SEMI, as of Q2 2015, worldwide solar manufacturing equipment bookings increased 166% quarter-over-quarter and 57% year-over-year, which bodes well for Aurora's business as we look ahead. This positive trend is consistent with the multi-billion dollar industry-wide growth of 30 percent in 2015 predicted by IHS Technology."

About Aurora:

Aurora Solar Technologies Inc. produces measurement and control solutions which allow solar cell producers to improve manufacturing yield, lower costs, decrease waste and attain higher margins. Headquartered in North Vancouver, Canada, and founded by experienced leaders in process measurement, semiconductor manufacturing and industrial automation, the Company's shares are listed on the TSX Venture Exchange and trade under the symbol "ACU". The Company was formerly "ACT Aurora Control Technologies". For more information, Aurora's website is located at www.aurorasolartech.com.

Neither the 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.

Some statements in this news release contain forwardlooking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. The Company does not assume the obligation to update any forwardlooking statement.

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