Fourth Project From Natcore's "Best of Breed" Program
ROCHESTER, N.Y., Oct. 25, 2016 /CNW/ -- Natcore Technology Inc.
(TSX-V: NXT; OTCQB: NTCXF) has signed a
Memorandum of Understanding with a Malta-based developer of international
renewable energy projects under which Natcore would serve as the
science and technology advisor for a large vertically-integrated
project in the Middle East.
The 1,000 MW project would comprise:
- A solar array consisting of 100 individual solar power plants,
each with a capacity of at least 10 MW;
- A manufacturing facility for the production of photovoltaic
modules; and
- A facility for the manufacturing of solar cells.
DK Ener Group Ltd. (DK), a
company organized under the laws of Malta, is retaining Natcore for this project.
DK is composed of highly experienced and respected entrepreneurs,
managers, professionals and researchers who identify, promote and
develop international investment opportunities, with a particular
emphasis on renewable energy projects including solar energy
projects. The principals of DK have successfully conceived,
developed and implemented projects internationally, including the
building of turnkey solar farms.
This project arose from Natcore's "Best of Breed" consulting
service through which it provides unbiased business, science and
technical advice to potential new solar cell and solar panel
manufacturers and to established solar manufacturers wishing to
upgrade their facilities.
Natcore will serve as DK's science and technology advisor on the
project. As part of their service, Natcore will recommend a "best
of breed" selection of manufacturing equipment and components, and
will offer limited exclusivity to incorporate new technology
developed by Natcore when such technology becomes commercially
available.
"This is the fourth project to come from our Best of Breed
program," says Natcore President and CEO Chuck Provini. "And it's by far our largest."
The others are in Belize (10 MW),
Vietnam (200 MW) and Australia (30 MW).
About Natcore Technology
Natcore Technology is focused
on using its proprietary nanotechnology discoveries to enable a
variety of compelling applications in the solar industry.
Specifically, the company is advancing applications in laser
processing, black silicon and quantum-dot solar cells to
significantly lower the costs and improve the power output of solar
cells. With 65 patents (31 granted and 34 pending), Natcore is on
the leading edge of solar research. www.NatcoreSolar.com.
Statements herein other than purely historical factual
information, including statements relating to revenues or profits,
or Natcore's future plans and objectives, or expected sales, cash
flows, and capital expenditures constitute forward-looking
statements. Forward-looking statements are based on numerous
assumptions and are subject to all of the risks and uncertainties
inherent in Natcore's business, including risks inherent in the
technology history. There can be no assurance that such
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on such statements. Except in accordance with
applicable securities laws, Natcore expressly disclaims any
obligation to update any forward-looking statements or
forward-looking statements that are incorporated by reference
herein.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contact: Chuck Provini
585-286-9180
Info@NatcoreSolar.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/natcore-technology-to-serve-as-technical-advisor-for-1000-mw-solar-facility-in-middle-east-300350512.html
SOURCE Natcore Technology Inc.
