SANTA CLARITA, Calif.--(BUSINESS WIRE)-- 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 reported that it has made considerable sales progress with large solar manufacturers. One of the company’s customers is preparing a batch of solar panels with integrated BioBacksheet for full panel recertification by Underwriter’s Laboratories (UL). Full panel UL certification is the final step required before BioSolar can accept production run purchase orders from solar panel manufacturers.
Overseas demand from BioBacksheet continues to grow. The company’s management team recently visited several major cities in China to meet with prospective customers, including some of the world’s largest solar panel manufacturers. The value proposition of BioBacksheet was abundantly clear to the prospective customers. BioBacksheet is the world’s first UL certified solar panel backsheet made from renewable materials, and it has two distinct benefits that are unmatched by existing backsheets. First, BioBacksheet’s high thermal conductivity draws heat away from the solar cells faster, which can increase the power output of the entire solar panel. Second, BioBacksheet’s USDA BioPreferred Certification allows solar panels to be marketed as more sustainable and socially responsible. Also, BioBacksheet’s competitive pricing, stemming from its innovative single layer construction, makes the switch from conventional backsheets very cost effective.
Dr. David Lee, BioSolar’s CEO, commented, “We are highly focused on the sequential development of key customers by diligently helping them through their testing, integration and full panel UL certification process. We have a large solar panel customer that is getting ready to submit their panels for full certification, and we are now adding more customers to the pipeline.
“During our recent trip to China, we met with a number of the world’s largest solar manufacturers that have previously expressed interest in BioBacksheet. Their responses were highly encouraging and we received a number of immediate requests for detailed technical information and samples to start internal testing. Our initial sales cycle is inherently long, but our efforts are now beginning to bear fruit. Once our first customer completes full panel UL recertification, the world can start buying solar panels with BioBacksheet, which will result in high volume production and substantial revenues for our company,” added Dr. Lee.
The company now produces BioBacksheet through multiple large-scale contract manufacturing partners. Each of these partners is capable of production sample runs for panel certification as well as larger commercial runs.
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.
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.