Natcore Technology Inc. has entered into an agreement that will allow them to open a China-based exclusive manufacturer/seller of their solar energy products.
Through a letter of intent that was recently signed with the China-based Zhuzhou Industrial Development Zone, Natcore Technologies will form Natcore China to manufacture anti-reflective growth equipment and materials.
The company will initially be funded through a $3 million investment - $500,000 from Natcore and $2.5 million Zhuzhou and its partners - and will give the Rice University-based AR film producer exclusive rights to develop, manufacture, and sell the film in China.
"This agreement is a major milestone in the growth of Natcore Technology," said Chuck Provini, Natcore's president and CEO. "…In short, it helps move us out of the lab and closer to achieving our goal of making solar energy efficient enough to be affordable to the world."
Provini also said that the formation of the company in China would help to continually fund the company's research and development costs regarding anti-reflective film while also adding themselves to "one of the world's largest and fastest-growing producers of solar cells" in China.
Natcore's technology allows for the creation of film through liquid phase deposition, a process involving room temperature growth of silicon oxides on silicon wafers that could reduce manufacturing costs for solar energy product developers in the future.
