Natcore Technology finalizes agreement for China solar cells JV
Natcore Technology Inc (TSX-V:NXT, OTC:NTCXF) said it has signed a definitive agreement with a Chinese consortium forming a joint venture to develop and produce film-growth equipment and materials that could significantly lower the cost of manufacturing solar cells.
At the heart of the JV is Natcore’s patented Liquid Phase Deposition (LPD) technology, licensed from Rice University, where it was developed. LPD grows an anti-reflective film on a substrate in a room-temperature chemical bath, potentially making solar cells significantly cheaper and cleaner to produce.
Existing technology uses a high-temperature vacuum furnace to grow the coating, requiring much more energy in the process, and much more silicon to achieve the thickness needed to withstand the firing, the group said in a statement.
The new company, Natcore China, is a joint venture between Natcore, the Zhuzhou Hi-Tech Industrial Development Zone, a government-supported zone in Hunan province, and Chuangke Silicon Ltd., a major Chinese producer of polysilicon.
Natcore will hold 55 percent of the business, and the Chinese partners the remainder.
The agreement is for a minimum term of 20 years, and grants Natcore China exclusive rights to develop and manufacture the anti-reflective coating equipment used in this technology, so long as it meets specified pricing and quality control standards, and to sell it to solar cell producers in China.
Natcore China will also have exclusive rights for a period of five years to develop and manufacture this equipment for sale anywhere in the world. The solar cell producers that buy this equipment may sell their output anywhere in the world.
Natcore retains the unrestricted rights to license their LPD technology for all other applications.
Natcore China will be funded by an initial US$3 million investment consisting of US$500,000 contributed by Natcore, and US$2.5 million contributed by the Chinese partners.
Natcore's partners project that Natcore China will eventually create as many as 500 jobs in manufacturing and research & development. They expect that first product shipments will be made within 10 months.
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