Jim Nelson to discuss Solar3D and financing renewable energy
development
Company Website:
http://www.solar3d.com
SANTA BARBARA, Calif. -- (Business Wire)
Solar3D, Inc. (OTCBB: SLTD) the developer of a breakthrough
3-dimensional solar cell technology to maximize the conversion of
sunlight into electricity, today announced that Jim Nelson, the
company’s CEO, has been invited to testify before the House Committee on
Oversight and Government Reform in a hearing that will be held on
Wednesday, May 16.
The Committee’s interest is in learning more about the impact of the
government’s loan guarantee program, as contrasted with Solar3D's
success in financing the development of its technology with private
investment.
“This is a great opportunity to tell our story and to discuss what we
think is important in government management of renewable energy
development,” said Nelson.
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
management believes that this breakthrough solar cell design can produce
200% the power output of current silicon solar cells.
The company’s analysis indicates that a typical 17% efficient solar cell
performs more like a 5% efficient cell when light is shining 20 degrees
from the side, such as during the morning or evening hours. Due to an
innovative wide-angle light collection feature, the company estimates
that its Solar3D cell can maintain a high 25% efficiency for a longer
period of time, over the course of a day and year. This translates into
200% more power than conventional solar cells and a system payback
period that is approximately half the time of the current solar
technologies.
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. 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.
Contacts:
Coltrin & Associates, Inc.
Ann Norman
Ann_norman@coltrin.com
801/350-9412
Source: Solar3D, Inc.