Company to Enter into Strategic Partnerships to Supply BioBacksheet to Fast Growing Market
Santa Clarita, CA – January 10, 2012 – BioSolar, Inc. (OTCBB: BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic (PV) solar modules, today announced its plan to enter into strategic partnerships with manufacturers that will further reduce the cost to produce its BioBacksheet product and provide sufficient capacity to supply substantial quantities to major customers. This strategic plan allows the company to leverage its proprietary product development capabilities and marketing strengths.
“Recent events have helped us to solidify our strategic plan. Excess manufacturing capacity exists throughout the world, and many manufacturers are eager to work with fully developed technology products like BioBacksheet. To accelerate our business growth, BioSolar will focus its efforts on its core strengths, which include development of proprietary products and marketing efforts that have propelled us into a trusted position in biobased PV components,” said Dr. David Lee, CEO of BioSolar.
BioBacksheet is the world’s first and only UL approved bio-based backsheet for use in solar panels, and it is a direct replacement for conventional backsheets currently used in over 70 percent of solar panels in the world. It is the necessary bottom layer of a fully assembled solar panel. BioBacksheet, which is made from renewable green material, features many unmatched properties that include lower cost, higher durability, and potential to provide higher panel efficiency.
The development of BioBacksheet has been a four-year process that is now coming to a successful conclusion, for which the company expects full-scale commercial production and volume delivery in 2012. BioBacksheet received material certification from the Underwriters Laboratory in February 2011 and a USDA BioPreferred product certification, which mandates preferential consideration by government agencies, in June 2011. BioBacksheet also made its debut at the recent GovGreen Conference (http://www.govgreen.org) in Washington, D.C., the market for government decision-makers looking for green solutions, and is now being considered by a number of PV manufacturers in full integration trials.
About BioSolar, Inc.
BioSolar, Inc. has developed a breakthrough technology to produce bio-based materials from renewable plant sources that will reduce the cost per watt of solar cells. Most of the solar industry is focused on photovoltaic efficiency to reduce cost. BioSolar is the first company to introduce a new dimension of cost reduction by replacing petroleum-based plastic solar cell components with durable bio-based materials. To learn more about BioSolar, please visit our website at http://www.biosolar.com.
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