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Posted: August 18, 2008
Octillion Enters into Research Agreement to Expand Development of Photovoltaic Window Technologies
(Nanowerk News) Octillion Corp. (Symbol: OCTL), a next-generation alternative and renewable energy technology incubator, today announced that it has entered into a Sponsored Research Agreement with scientists at Oakland University to further the development of its NanoPower Window technology. In addition to working to advance the Company’s solar photovoltaic technology, scientists and collaborating researchers will explore additional nanotechnology applications that may be derived from their efforts.
Mr. Nicholas Cucinelli, President and CEO of Octillion Corp., announced the agreement today at the 2008 Nanoscale Science and Engineering Conference at Oakland University (www2.oakland.edu/research/nanotech). “Nanotechnology research and development requires a highly collaborative and flexible approach to achieve commercially-viable outcomes, and that sentiment is very much alive here at Oakland University,” stated Mr. Cucinelli. “There is a rapidly growing ‘nanotechnology corridor’ developing here in Southeast Michigan, and we look forward to working with Oakland University to access and enhance those resources.”
The two-year agreement will be focused on transparent photovoltaic device construction on glass substrates, and also includes provisions to explore related innovations such as flexible substrates, hybridized solar cell designs, and other photovoltaic innovations. In addition to furthering the Company’s efforts to develop a transparent window capable of generating electricity, the agreement also allows Octillion and Oakland University to jointly benefit from nanotechnology innovations that may broadly apply in other applications and markets, creating incentives for the commercialization of peripheral discoveries and the potential for spin-off activities and sub-licensing agreements.
The research will be carried out under the direction of micro/nano-electromechanical systems (MEMS/NEMS) expert Dr. Hongwei Qu, in close consultation with other Octillion collaborators. Dr. Qu holds a Ph.D. degree in Electrical Engineering from the University of Florida, where he worked within the Interdisciplinary Microsystems Group to develop CMOS-MEMS inertial sensors and optical MEMS devices. He also holds an M.S. degree in Physics from Florida International University, where he studied ferroelectric thin films, and an M.S. degree in Electrical Engineering from Tianjin University, where he concentrated on semiconductor devices and solid state sensors.
“Oakland University is very pleased to have been selected to collaborate with Octillion on this exciting project,” commented Dr. T.C. Yih, Vice Provost for Research at Oakland University and a member of the Company’s Advisory Board. “Our interdisciplinary approach and relevant faculty expertise was a major attractor, as was our commitment to supplement regional facilities, such as the Michigan Nanofabrication Facility, with our laboratory equipment specific to the needs of Octillion.” The Michigan Nanofabrication Facility is located in the nearby Solid-State Electronics Laboratory at the University of Michigan and is widely considered to be one of the best university facilities in the country for performing research on nanotechnology and solid-state devices (www.mnf.umich.edu).
Based in Rochester, Michigan and located just minutes from Octillion’s headquarters in Auburn Hills, Oakland University is one of the 82 U.S. “Doctoral/Research Universities” rated by the Carnegie Foundation for the Advancement of Teaching. Created in 1957, Oakland University leverages its location in the heart of Michigan’s “Automation Alley” (www.automationalley.com) to support hundreds of partnerships with hospitals, Fortune 500 companies, cities, government agencies, and educational institutions.
“This agreement with an institution known for its exceptional ability to work with commercial partners further positions Octillion as a dedicated player in the Michigan economy and may soon enable organic expansion in the nanotech and solar portion of our growing technology portfolio,” stated Mr. Cucinelli. “As we continue to develop transparent solar photovoltaics that can be readily integrated into the existing glass manufacturing infrastructure, I believe Dr. Qu’s specific expertise and the flexible nature of our contract will substantially increase the potential value of our research to Octillion’s shareholders.”
About Octillion Corp.
Octillion Corp., together with its wholly owned subsidiaries, is a next generation technology incubator focused on the identification, acquisition, development, and commercialization of alternative and renewable energy technologies.