Natcore Technology Inc.

Natcore Technology Inc.

October 27, 2009 10:00 ET

Natcore Begins New Research Program at Ohio State University

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2009) - Natcore Technology Inc. (TSX VENTURE:NXT) ("Natcore" or the "Company") has begun a collaborative project with The Ohio State University's Wright Center for Photovoltaics Innovation and Commercialization (PVIC) to further refine the Company's Liquid Phase Deposition (LPD) technology.

The project, being contracted through NewCyte, Inc., a member of PVIC, is designed to develop the film growth parameters necessary to integrate the Company's proprietary antireflective (AR) coating technology into current state-of-the-art silicon solar cell processing lines.

A first step toward that goal is to fully characterize the optoelectronic and thermomechanical properties of Natcore's AR coating. The project will determine optimum AR coating layer thickness and performance using industry-standard computer models, and will verify the predictions with measured data. The outcome from this work will guide the development of process controls for production system operations on the factory floor.

The Wright Center for PVIC consists of a world class technology platform in the state of Ohio employing second and third generation photovoltaic materials tailored primarily for applications in clean electricity generation. PVIC's goal is to accelerate the photovoltaic (PV) industry by reducing solar costs, improving technologies and transferring these new techniques from the laboratory to the production line.

While accomplishing key goals in Natcore's internal research and development plans, this collaborative project will also provide important technical data requested by potential joint venture partners.

"Previous work in an independent laboratory refined our LPD process and provided key baseline data," says Chuck Provini, president and CEO of Natcore. "Our research project at Ohio State will provide the final technical data being requested by groups now conducting due diligence on our process. In short, this will be an important milestone toward our goal of bringing our scientific achievements to the factory floor."

Brien Lundin, Natcore's chairman, notes that "This program is an important real-world complement to the blue-sky research on quantum-dot tandem solar cells now being conducted in Professor Andrew Barron's laboratory, through our sponsored research program with Rice University. We remain committed to advancing our technology on all fronts."

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.

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.

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.

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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