News Article

NanoHorizons Signs Exclusive Licensing Agreement With Solarity for Breakthrough Solar Cell Technology
Date: Aug 01, 2013
Author: press release
Source: PR Newswire ( click here to go to the source)

Featured firm in this article: Solarity Inc of State College, PA

STATE COLLEGE, Pa., Aug. 1 /PRNewswire/ -- NanoHorizons(TM), Inc., an
emerging leader in applied nanoscale materials and solutions, announced an
agreement with Solarity, a newly-formed developer and manufacturer of
photovoltaic cells, for the exclusive use of NanoHorizons' patented solar
cell technology. The specific terms of the agreement were not disclosed.
The agreement furthers NanoHorizons' goal of creating shareholder value by
developing nanoscale-engineered solutions to real-world challenges.
The Solar Industry: Ripe for Breakthrough Technology
Solar-generated electrical power using today's photovoltaics costs 4 to
10 times more than conventional power generation because today's solar
cells are too expensive to broadly deploy. This is due in great part to the
commonly-used layered structure of today's solar cells, which can only
absorb and collect a relatively small amount of the solar energy received.
Breakthrough Technology
The licensed technology's device design utilizes a nanoscale-engineered
structure to perform both absorption and collection. This breakthrough
enables photovoltaic device builders to use an optimally thick layer of
absorption material while simultaneously requiring a collection distance of
only tens of nanometers vs. tens of microns in today's best two-layer
cells. This innovation eliminates the impact of absorption layer thickness
on collection distance, a fundamental limitation in photovoltaic device
"Solar energy development has been held up by barriers inherent in cell
design. These barriers have now been broken," said Stephen Fonash, PhD.,
founder of NanoHorizons and co-inventor of the patented technology. "Our
nanoscale approach enables collection lengths as small as a few tens of
nanometers, opening the door to the use of inexpensive materials and
fabrication processes, while simultaneously enabling a truly optimized
absorption length. This technology is poised to greatly stimulate growth in
the solar energy market."
"While NanoHorizons' technology portfolio continues to grow, the
company has been focusing its own manufacturing and marketing on its
SmartSilver(TM) antimicrobial technology," said Edward Frymoyer, PhD.,
Managing Partner, Pulsar Ventures, an investor in NanoHorizons. "Licensing
this technology to a capable manufacturer enables fast-track development
under terms favorable to shareholders. It is particularly timely in light
of the current global energy landscape."
Solarity Emerges
Solarity's CEO Doug Neidich notes that, "Current solar cell designs
involve expensive manufacturing processes, making photovoltaics undesirable
in many of today's markets." He continues, "Our nanotechnology-based
approach offers terrific potential in manufacturing higher-efficiency cells
using less expensive materials and high-throughput production lines."
Solarity currently plans to produce test products within 18-24 months.
About NanoHorizons, Inc.
NanoHorizons, Inc. focuses on nanotechnology applications in the
microelectronics, fiber and textile, and healthcare industries. The
company's research and development team addresses real-world problems with
applied nanoscale engineering.
NanoHorizons' products and application introductions include:
SmartSilver(TM) and other commercially available nanoparticle-based
additives; SmartSilver antimicrobial fibers; QuickMass(TM), which addresses
the need for more cost-effective pharmaceutical research and increased drug
discovery capacity; and, nano-materials for high-performance flexible
electronics, solar cell technology, environmental control and medical
applications. To learn more about NanoHorizons, please visit
Nicolas A. Boillot

Doug Neidich