Open menu

Nanotechnology General News

The latest news from academia, regulators
research labs and other things of interest

Posted: February 13, 2008

Octillion Corp. Completes Private Placement Through NYSE Member Firm

(Nanowerk News) Octillion Corp. (OTCBB: OCTL) (“Octillion” or the “Company”), an alternative energy technology incubator, today announced that it has completed a private placement of its securities consisting of shares and warrants to institutional and accredited investors for aggregate gross proceeds of $3,675,000.
Westminster Securities Corporation, a NYSE member firm, acted as placement agent. In agreement with Westminster Securities Corporation, Palladium Capital Advisors, LLC, acted as co-placement agent.
The Company intends to use the net proceeds from this financing for general corporate purposes. To the extent that the warrants are exercised, Octillion could receive an additional maximum amount of $4,593,750.
“We are very pleased to work with such effective investment banking firms,” states Mr. Nicholas Cucinelli, President and CEO of Octillion Corp. “The additional capital provided by this financing will not only enable us to comfortably pursue our research and development initiatives for the first-of-its-kind transparent window capable of generating electricity, but will also permit us to continue to identify, evaluate and potentially acquire other strategic enabling and complementary photovoltaic technologies.”
About Westminster Securities Corporation
Westminster Securities Corporation is a full service brokerage firm operating in five principal areas: Investment Banking, Research, Account Management, Execution Services, and Clearing Services. Founded in 1971, Westminster is a member of the New York Stock Exchange, the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. Westminster is headquartered at 100 Wall Street, New York, with branch offices in Atlanta, Cyprus, Miami, New York, Spokane and St. Louis. More information can be found at
About Palladium Capital Advisors LLC
Palladium Capital Advisors, LLC, is a leading investment bank and brokerage firm dedicated to providing premier investment banking services to emerging growth companies and raising assets for top-tier hedge funds. The firm’s banking professionals each have, on average, more than 20 years of experience, and specialize in Private Investments in Public Equity (“PIPEs”), reverse mergers, public and private mergers and acquisitions, and corporate recapitalizations and restructurings, among other services.
About Octillion Corp.
Octillion Corp. is a technology incubator focused on the identification, acquisition, development and eventual commercialization of emerging, leading edge alternative energy technologies.
Through established relationships with universities, research institutions and government agencies, we strive to identify technologies and business opportunities on the leading edge of innovation that have the potential of serving significant and unmet market needs.
Once a technology has been identified, we fund the research and development activities relating to the technology with the intention of ultimately, if warranted, licensing, commercializing and marketing the subject technology, either through internal resources, collaborative agreements or otherwise.
Unique to our business model is the use of established research infrastructure owned by the various institutions we deal with, saving us significant capital which would otherwise be required for such things as land and building acquisition, equipment and furniture purchases, and other incidental start up costs. As a result, we are able to benefit from leading edge research while employing significantly less capital than conventional organizations.
Among our current research and development activities is the development of a technology that could adapt existing home and office glass windows into ones capable of generating electricity from solar energy without losing significant transparency or requiring major changes in manufacturing infrastructure.
The technological potential of adapting existing glass windows into ones capable of generating electricity from the sun’s solar energy has been made possible through a ground breaking discovery of an electrochemical and ultrasound process that produces identically sized (1 to 4 nanometers in diameter) highly luminescent nanoparticles of silicon that provide varying wavelengths of photoluminescence with high quantum down conversion efficiency of short wavelengths (50% to 60%).
When thin films of silicon nanoparticles are deposited (sprayed) onto silicon substrates, ultraviolet light is absorbed and converted into electrical current. With appropriate connections, the films act as nanosilicon photovoltaic solar cells that convert solar radiation to electrical energy.
Source: Octillion
Subscribe to a free copy of one of our daily
Nanowerk Newsletter Email Digests
with a compilation of all of the day's news.
If you liked this article, please give it a quick review on reddit or StumbleUpon. Thanks!
These articles might interest you as well: