SOURCE: Solar3D, Inc.

Solar3D, Inc.

March 19, 2013 03:01 ET

Solar3D Begins Fabrication of Newest Prototype

The Company's 3D Light Trapping Prototype Is Preparing the Way for a Pilot Manufacturing Run and Commercialization

SANTA BARBARA, CA--(Marketwire - Mar 19, 2013) - Solar3D, Inc. (OTCBB: SLTD), the developer of a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity, today announced that the fabrication of the next prototype of its next generation silicon solar cell is underway.

Dr. Changwan Son, Solar3D's Director of Technology, commented, "When we completed our first prototype, we were thrilled with the results. We achieved more power, relative to current technology, that we dared to hope. As we continue our work, we have discovered a number of ways to fine-tune our process so the product will produce even more power, and be less expensive to manufacture. As we fabricate the new prototype, I am confident we will see increasingly better results."

Solar3D's first prototype exceeded management's expectations in dramatic fashion -- producing 250% of the power of a conventional solar cell fabricated under the same conditions. Two powerful characteristics of the Solar3D Cell make it superior to current technology. First, it is substantially more efficient in producing power. Second, is a wide-angle light collection feature, which allows the Cell to collect light at more times of the day, month, and year, and in times of diffused light -- such as on cloudy days. This attribute is unique in the solar world.

Solar3D filed its Patent Cooperation Treaty international application on the product, its unique features, and the manufacturing process last month.

"Our team is not satisfied, even with the initial extraordinary results," said Jim Nelson, CEO of Solar3D. "We believe in continuous improvement. Changwan and his team continue to refine the process and product to get the optimal result. This discipline will put us in an excellent position to execute our pilot manufacturing run later this year -- and accelerate commercialization in 2014."

Dr. Son continued, "Our mandate is to create a solar cell that would produce substantially more power than the current technology at a low enough cost of production to deliver a markedly lower cost per watt of solar electricity. We are making our positive initial results even better. We now forecast that the result of our work will be at least 50% reduction in the cost of solar electricity. The installed system cost savings may be even greater."

Mr. Nelson concluded, "We are focused on bringing this breakthrough technology to market. We are on our way to the next major step -- the production of a manufacturing prototype, which is required to undertake a pilot production run this year. The pilot run will prove the 3D Cell's performance characteristics in a production environment and lead us to a manufacturing partner and entry into the marketplace by 2014."

To see a scanning electron microscope photo of the prototype nanostructures please visit -- http://www.solar3d.com

About Solar3D, Inc.

Solar3D, Inc. is developing a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. Up to 30% of incident sunlight is currently reflected off the surface of conventional solar cells, and more is lost inside the solar cell materials. Inspired by light management techniques used in fiber optic devices, our innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons. An innovative wide-angle light collection feature on the cell surface allows for the collection of sunlight over a range of angles during the day. This next generation solar cell will be dramatically more efficient, resulting in a lower cost per watt that will make solar power affordable for the world. To learn more about Solar3D, please 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 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, product, and distributor performance, 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.

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