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Company News
Solar3D Unveils 2014 Annual Plan
Developer of 3-Dimensional Solar Cell Technology Eyes Commercialization of New Solar Cell and Expansion of its Proposed Solar Systems Business
Santa Barbara, CA – December 3, 2013 – Solar3D, Inc. (OTC: SLTD), the developer of a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity, today discussed its overall strategic plan for 2014.
“We have commercialization in sight for our next-generation solar cell,” said Jim Nelson, CEO of Solar3D. “That is the big prize that we organized our company to accomplish. Additionally, we believe that with the anticipated closing of our SUNworks acquisition in January, and other acquisitions to be pursued, we will have the opportunity to be one of the fastest growing players in the solar systems business in the United States.”
Inspired by light management techniques used in fiber optic devices, the company’s innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons. Solar3D’s initial 2012 prototype design was calculated to produce just over 25% efficiency—the highest of any silicon solar cell. Even more important was an originally unanticipated feature — wide-angle light collection — allowing for the generation of electricity throughout more times of the days and seasons than current technology.
Last month, the company announced the execution of a definitive purchase agreement with Solar United Networks, Inc., (SUNworks) of Roseville, CA. SUNworks, focused on the design, installation and management of solar energy systems for commercial, agricultural and residential customers, is one of the fastest growing solar systems providers in California. The company has delivered hundreds of 2.5 kilowatt to 1-megawatt commercial systems and has the capability to deliver systems as big as 25 megawatts. Its revenue for 2013 is estimated to be in excess of $7,500,000, with estimated pre-tax profits of almost $1,000,000. After the acquisition, SUNworks will continue operations as a wholly owned subsidiary of Solar3D. The transaction is expected to close in January 2014.
The Company’s plan for the solar cell side of its business includes:
1. Complete the final lab-based, third generation prototype of the Solar3D Cell. (DONE)
2. Retain a “lab-to-fab” partner that will produce a manufacturing prototype and pilot manufacturing run.(35 days and counting)
3. Select a manufacturing partner to produce and distribute the new product. (35 days and counting)
The plan for the Company’s proposed solar systems business includes:
1. Close the SUNworks transaction in January. (DONE)
2. Grow SUNworks organically to dramatically increase sales and earnings in 2014. (DONE)
3. Identify additional acquisition targets to add to the SUNworks group. (MD ENERGY DONE)
Nelson concluded, “As Thanksgiving has just past, we at Solar3D have much for which we are grateful. The prospects for 2014 are bright with a new business opportunity and a new product primed for market introduction. When we take stock of our position at this time next year, we will anticipate having a dramatically different and prosperous company.”
So when the man says 100 million revenue in 2015, going by his track record, we should be pretty close.
