SOURCE: Solar3D, Inc.

Solar3D, Inc.

May 01, 2013 03:04 ET

Solar3D Makes Progress Toward a Commercial Cell

Company Begins Talks With Foundry to Produce a Manufacturing Ready Prototype of Its Breakthrough Solar Cell

SANTA BARBARA, CA--(Marketwired - May 1, 2013) - Solar3D, Inc. (OTCQB: SLTD), the developer of a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity, today announced that it has begun discussions with the Smart System Technology and Commercialization Center of the College of Nanoscale Science and Engineering, in New York, to fabricate a manufacturing ready prototype and execute a pilot manufacturing run of its new solar cell.

"We have produced the initial prototype of our innovative new solar cell. It has exceeded our initial expectations. Now, we are focused on doing what is necessary to make it available to the world," said Jim Nelson, CEO of Solar3D.

Inspired by light management techniques used in fiber optic devices, the company's 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. Solar3D's working, proof-of-concept prototype of its innovative solar cell has prepared the firm to focus on the new product's commercialization -- leading them to the current discussions. "The results of the initial testing on the original prototype have been very encouraging," says Nelson. "But there is still room for making the product even better. The version 2.0 of the Solar3D cell is currently being refined."

The College of Nanoscale Science and Engineering purchased the assets of SVTC Solar, formerly of San Jose and is in the process of setting up its facility in Rochester, New York. The Smart System Technology and Commercialization Center has been formed specifically to help commercialize breakthrough innovations, such as the Solar3D Cell.

Nelson concluded, "We know that this next generation technology works. We continue to refine it -- making it more efficient and easier to build. It will only get better from here. By the time we do our pilot run, we believe that we will have something very special indeed."

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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