Solar3D Unveils 2014 Annual Plan
December 03 2013 - 3:01AM
Marketwired
Solar3D Unveils 2014 Annual Plan
Developer of 3-Dimensional Solar Cell Technology Eyes
Commercialization of New Solar Cell and Expansion of Its Proposed
Solar Systems Business
SANTA BARBARA, CA--(Marketwired - Dec 3, 2013) - Solar3D, Inc.
(OTCQB: SLTD), the developer of a breakthrough 3-dimensional solar
cell technology to maximize the conversion of sunlight into
electricity, today discussed its overall strategic plan for
2014.
"We have commercialization in sight for our next-generation
solar cell," said Jim Nelson, CEO of Solar3D. "That is the big
prize that we organized our company to accomplish. Additionally, we
believe that with the anticipated closing of our SUNworks
acquisition in January, and other acquisitions to be pursued, we
will have the opportunity to be one of the fastest growing players
in the solar systems business in the United States."
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 initial 2012 prototype design was
calculated to produce just over 25% efficiency -- the highest of
any silicon solar cell. Even more important was an originally
unanticipated feature -- wide-angle light collection -- allowing
for the generation of electricity throughout more times of the days
and seasons than current technology.
Last month, the company announced the execution of a definitive
purchase agreement with Solar United Networks, Inc., (SUNworks) of
Roseville, CA. SUNworks, focused on the design, installation and
management of solar energy systems for commercial, agricultural and
residential customers, is one of the fastest growing solar systems
providers in California. The company has delivered hundreds of 2.5
kilowatt to 1-megawatt commercial systems and has the capability to
deliver systems as big as 25 megawatts. Its revenue for 2013 is
estimated to be in excess of $7,500,000, with estimated pre-tax
profits of almost $1,000,000. After the acquisition, SUNworks will
continue operations as a wholly owned subsidiary of Solar3D. The
transaction is expected to close in January 2014.
The Company's plan for the solar cell side of its business
includes:
1. Complete the final lab-based, third generation prototype
of the Solar3D Cell. 2. Retain a "lab-to-fab" partner that
will produce a manufacturing prototype and pilot manufacturing run.
3. Select a manufacturing partner to produce and distribute
the new product.
The plan for the Company's proposed solar systems business
includes:
1. Close the SUNworks transaction in January. 2. Grow
SUNworks organically to dramatically increase sales and earnings in
2014. 3. Identify additional acquisition targets to add to the
SUNworks group.
Nelson concluded, "As Thanksgiving has just past, we at Solar3D
have much for which we are grateful. The prospects for 2014 are
bright with a new business opportunity and a new product primed for
market introduction. When we take stock of our position at this
time next year, we will anticipate having a dramatically different
and prosperous company."
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 is designed to be dramatically more
efficient, with the goal of achieving 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 risks
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, products, and
prospects for sales, failure to commercialize our technology,
failure of technology to perform as expected, failure to earn
profit or revenue, higher costs than expected, persistent operating
losses, ownership dilution, inability to repay debt, failure of
acquired businesses to perform as expected, the impact on the
national and local economies of terrorist actions, and U.S. actions
subsequently; and other factors detailed in public reports filed by
the Company.
Press Contact:
Jim Nelson Email Contact 805/690-9000
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