Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This is a reply to a private message.
If the board is not biased, what's this NO^CCME? Have you ever seen anything more negative attached to a board? Why was a sticky attached to the top of the board for months that read CCME IS A FRAUD?
Yesterday, CCME replied positively to the Wall Street Journal.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64128251
Within minutes there were two posts throwing cold water on the bullish news. Any hint of bullishness will not be condoned. The NO^CCME board is shameful.
Good Luck to all believers of the Company. Not so much to the believers of Citron, MW, etc.
JB
Warning... if anyone has bullish sentiment regarding CCME, don't post it on this board. You will be chastised for it by the posters that have taken over the board.
Shameful IMO
JB
dough, I left the meeting with the feeling that I now know more possitive things about the Company and the men in charge.
Chuck and Brien were very excited with the Intelligent LPD Process machine and the near term outlook for passavation and AR coating of black silicon. Chuck stated that MicroTech recommended building the next two machines immediately. They are that sure it will be a hit. Remember, MicroTech has been working with the silicon wafer industry for 25 years. A feature of the new machine, that I neglected to share, is it has both heating and cooling capabilities for the chemical bath. This is exclusive to Natcore's machines and enables the machine to hold a desired temperature more accurately than the normal heating only feature.
Natcore probably won't have the tandem cell ready for commercialization by the end of 2012 like I had hoped. This is a bit disappointing. To me though, this is offset by the news that the nanostructured thin film roll to roll can be a tandem product. Imagine cutting the cost per watt in half, doubling the output, and cutting installation costs by 60%. Now that is disruptive with regards to the solar industry. It's like a dream.
We may still see roll to roll commercialized by the end of 2012. However, I doubt it will be the tandem variety.
For the first time in their history, Natcore has their own lab, has cash, and seems focused. Natcore has been building relationships with other companies that are now coming to the forefront.
Long term BUY and hold.
Short term ?
GL
JB
Thanks everyone for the replies regarding the meeting notes.
I'm soooo glad I went to the meeting. I was one of only 8 or 9 shareholders in attendance. The meeting was very informal, with Brien, Chuck, and Tom willing and eager to talk one on one with everyone before and after the meeting.
Natcore has huge potential and these guys are up to getting the word out. Natcore came public on the Venture exchange and is only familiar to Canadian brokerage houses. Chuck and Brien have been trying to familiarize US brokerage houses of late. I don't think it will be long before tons of people know Natcore's story.
The share price sure is tantalizing here (typed while licking chops). Love it, the more shares I can get the better.
Hey MRPANCAKE, I'm positive I sat next to illumination at the meeting. Although, of course, he didn't identify himself with that name. He's a very soft spoken guy. I'm sure he means well. Too bad some people have lost their patience with him.
JB
Good point rkt9. Welcome to the board.
JB
Don't mind at all. Welcome to the board.
JB
Notes from Natcore's AGM
Natcore was represented by Chuck Provini(CEO), Brien Lundin(Chairman), and Tom Scarpa(IR). We were shown a new slide show and there was a lengthy q&a session. Brien was very active in the discussions. I came away feeling that he is a hands on chairman, board member, and founder.
Natcore has 11 patents and 17 patents pending. Most of the patents pending are duplicate patents filed in China. Natcore/China met with the head of the Chinese patent office and were assured that all patents will be honored, provided they are filed by Chinese companies. Natcore/China qualifies as a Chinese company. Provini stated that Natcore will have to have a Chinese partner for their Chinese thin film roll to roll business in order to have patent protection in China. A US based thin film roll to roll partner is preferred for Natcore's worldwide thin film roll to roll business. At the present time, Natcore has no plans to manufacture the thin film roll to roll or tandem cell panels themselves. Brien Lunden stated that Natcore prefers to have manufacturing experts handle the manufacturing.
Funding ...
Grants from US, state, and local governments are still a possibility. Natcore will not accept low interest loans, as they have no interest in taking on debt.
Seed money from Malasyia has already been offered. Chuck and Brien didn't elaborate on this. This may not be a preffered option.
Phono Solar has offered to fund all of Natcore's needs. A ballpark offer of $15 - $30 million offered was mentioned. Phono Solar currently has a silicon solar capacity of 500 MW. They plan to double that capacity. Phono Solar is a division of Sumec Group, which is a division of Sinomach, the largest Chinese overseas power plant contractor with sales of $15 billion last year.
The Kodak situation is still unclear. Chuck and Brien wouldn't speculate. However, they do feel that Natcore and Kodak share a very good relationship. Dennis Flood (CTO) told me last week that he thinks Kodak prefers to only commit to the recently announced agreement with Natcore for now. He stated that they are under a great deal of scutiny from institutional investors and aren't in ideal shape financially. It's my opinion that Kodak would prefer to commit closer to the commercial launch of thin film roll to roll.
Chuck deferred my future private placement question to Brien. Brien stated that while a future pp can not be entirely ruled out, it's his belief that we have seen the last one. He said if the right investor came along, and the price was right, it would have to be considered.
Natcore has the cash from the recent pp, the May warrant conversions, and will recieve more cash from the upcoming September warrant conversions. Money from Natcore's Chinese partners will start flowing in shortly. Provini estimates Natcore's cash burn rate at $125,000 per month including the new lab. Chuck stated that the Kodak agreement saved Natcore millions of dollars in equipment purchases necessary to develop the thin film roll to roll technology.
Technology Update ...
Black silicon passavation and AR coating coming soon. Test results should be in hand in 2-3 months with sales after that. Natcore plans to distribute 1000's of samples to solar manufacturers. Natcore expects solar manufacturers to switch from convential flat wafers to the textured black silicon wafers. Natcore expects output from the black silicon panels to be 20-30% greater than fixed in place convential panels. The output gains come from greater sunlight absorbtion, from different sunlight angles, due to the textured surface. Currently there are 3 potential buyers for the Intelligent LPD Process machines. No elaboration beyond TLNZ Solar. Natcore expects more buyers after the coated black silicon samples go out. It sounded like Natcore thinks they have a big winner here with the passavation and AR coating of black silicon.
Natcore's scientists believe that the nanostructured flexible thin film can have a tandem coating eventually. They say this will halve the cost and double the output. Natcore and Kodak are scheduled to start development of the thin film roll to roll in late July. Chuck stated that Natcore recieves 4-5 calls a week from current and former Kodak engineers that are familiar with Natcore's potential. Some are looking for work, others with ideas regarding applications for Natcore's technology. Natcore is looking to hire a few downsized Kodak employees for their lab.
Things should start moving more quickly now with the tandem cell technology. Due to monetary and lab restrictions, only one graduate student at Rice U, under the direction of Dr. Barron, has been actively involved (per Dr. Flood last week). Chuck stated that we should see a proof of concept tandem device in a matter of months. Brien talked about tandem cell commercialization in 20-40 months. Last week, Dr. Flood estimated 24-30 months. Phono Solar and TLNZ Solar are chomping at the bit for tandem cells.
Natcore is monitoring the sample Nanoshades in CT. With all else going on, it sounded like NanoShades has been shelved for the time being. Chuck stated that it will be a great product due to its ability to cool (shade) and generate electricity at the same time.
Natcore met with MicroTech last week in NJ. Brien stated that the talks were very exciting. MicroTech stated to Brien and Chuck that even they may not know what they have regarding the potential of the LPD process and the Intelligent LPD Processing machine. One of the slides presented showed the machine. It looked pretty impressive. The machine incorporates devices and procedures that only MicroTech can provide. It has an exclusive lazor device for measuring the thickness of the coating while the wafers are submerged. It has an exclusive powder drying componant (the silicon industry currently uses air drying which steaks the surface). The machine can also determine if particles are growing on each other away from the wafers. When particle growth away from the intended growth on wafers occurs at a predetermined magnitude, it is time to change out the chemical solution.
Brien stated that it was decided that MicoTech is going to hold on to the machine for a couple of weeks in order to show it to their clients. MicroTech believes the machines will be a huge seller. Also, Brien stated that MicroTech wants to work as closely with Natcore as Natcore will allow.
Closing remarks ...
The management team stated that they know of no competing technology when I asked them to assess risks. They said that a new, supposedly exciting, technology comes out of universities every week, but none of them are commercially viable. They feel the number one risk to the business is giving away too much in return for backing. They stated that they are working with 800 pound gorillas. The other risk they pointed out was losing focus and drifting into too many projects too soon. Brien stated that eventually there will be so many developed applications and businesses that it will be difficult to manage properly. To avoid this, Natcore plans to spin off businesses to it's shareholders as things progress.
JB
MrC, I attended the annual meeting. I have some good info. I will post a summary as soon as I get back to WI.
JB
It's really good news that Natcore will be able to develop their roll to roll thin film technology while searching for a manufacturing partner(s). I think that potential partners may want to see a workable product before they commit fully. If partnering offers are already in Natcore's hands, the offers may be asking for too much. A confirmation of the technology, and low cost, should put Natcore in a better bargaining position.
futr, I agree that these statements are confusing. I'm hoping that Natcore will send out an email with more info. They usually do. However, nothing yet.
The scope of work will encompass development of all of Natcore's thin-film photovoltaic technology, along with Natcore's advanced low-cost antireflection coating technology. The first emphasis will be on getting the nanostructured thin-film solar cell technology into commercial production. The goal is to develop the roll-to-roll processing needed to make the flexible thin-film cell, verify it in Kodak's pilot line, design and build the commercial scale deposition equipment for insertion into one of Kodak's under-utilized film lines, and start commercial production.
--------------------------------------------------------------------------------
Natcore continues its search for a manufacturing partner in the production of the thin-film solar cells developed through this agreement. Eastman Kodak is being strongly considered for that program, as are Asian alternatives.
--------------------------------------------------------------------------------
JB
Added today. First buy since halt.
JB
Apparently Norsun uses wire saws. The point I was trying to make is that the cleaving technology allows for cutting thinner wafers for the first time. This could benefit Natcore if they can apply their LPD coating to the thinner wafers. We know that solar manufacturers using furnaces cannot. SiGen started production last September.
Silicon Genesis Starts the PolyMax™ Production System
http://www.sigen.net/documents/PR09-02-10.pdf
JB
THIS MAY BE A BIG DEAL! I'll call Dr. Flood for more details.
Silicon Genesis has a new wafering method that cleaves rather than saws. I wonder if these new thinner wafers are right up Natcore's alley. Natcore's PR's have consistently stated that the high temperature ovens in use now, to apply the AR coating, will warp thinner silicon wafers. Also, we have to consider that the solar silicon wafer can be too thin for two reasons ...
1) The wafer will not absorb all of the light targeted on it's surface. Texturizing may solve this problem ...
http://www.azonano.com/news.aspx?newsID=22459
2) The wafer must be strong enough to be handled by robots without breaking. This seems to address this ...
Even at lower thicknesses where wire sawn wafers are unavailable for comparison, the ultra-thin wafers exhibit impressive mechanical qualities. In the case of the ultra-thin 20µm thick wafers (called a silicon "foil" due to its high flexibility), the high strength of the wafers can be demonstrated in a custom-designed, two-point bend test where a full wafer is shown to be capable of bending with a radius of curvature as small as 5mm, even before any surface treatment has been added. Building-integrated PV (BIPV) and other applications requiring flexible absorbers can now be of high conversion efficiency.
http://www.renewableenergyworld.com/rea/news/article/2011/05/implant-cleave-process-enables-ultra-thin-wafers-without-kerf-loss?cmpid=WNL-Friday-May20-2011
JB
I think I'll be able to attend the annual shareholders meeting on 6/6. If anyone has any questions for management, please let me know.
JB
I'm holding until the results of the forensic audit.
Fidelity told me that they would only force naked shorts to cover if not enough shorts covered. Any short shares covered drops the number of naked shorts outstanding. So, forced covering was not a given.
JB
dougheuring, good job today. Keep up the good work! NXT.V up .12
Hey gang, I removed a post yesterday that contained foul language.
Please remember to be respectful to others on this board by not cursing.
Thank You,
JB
Message from Stockhouse board ...
Natcore Announced last night that the BOARD OF DIRECTORS appointed new Chief Financial Officer
A. Brian Zucker the previous CFO also runs "Zucker and Associated" which provides various services to
Hedge Funds, So I assume this position up to now has been a part time one or in name only one.
Now that Natcore is ramping up their business game they would truly need a real CFO , not a Hedge fund
broker type guy.
The New CFO is Mr Richard Childs CPA(certified public accountant) and CFE(certified fraud investigator)
From what I could see on a quick search Mr Childs is from Westfield NJ and has had his own busines
for a number of years in providing special accounting services, including "forensic accounting services"
I would Take this move to a New CFO as "very positive" not a a "red flag" as the previous poster
suggested . I would think Mr Childs' extensive background in forensic accounting would be a big plus
in keeping tabs on our Chinese Joint venture books, future licence agreements etc,
Good luck to all longs. I think this is a very positive announcement. IMO
JB
FCSC ... Their recent Investor Presentation calls for an expansion of current build for year 1 commercialization. I don't think they can handle a lot of new business yet.
I think that there initial business will be conducted with doctors that worked with the company on clinical trials.
JB
nascrazy, 800lb gorilla may be conservative.
The Volume says it all, the company's building out slow and steady and soon will start rolling production.
We are in a great position to see this little ape become an 800lbs Gorilla.
NOBODY WANTS TO SELL so the MM try to force it.
Good to see you post again!
JB
Another optomistic prediction for solar's future ...
•Greater Demand - With global events like nuclear disasters and growing concern over C02 emissions, water shortages and energy security, solar power will be the go-to energy source in the next decade.
http://www.renewableenergyworld.com/rea/news/article/2011/05/pennwell-event-highlights-exciting-growth-for-large-scale-solar-industry?cmpid=WNL-Friday-May13-2011
Natcore is building a solid foundation with notable recent milestones per the recent Message From The President.
Message from the President
Dear Jim,
Albert Einstein said “Technological progress is like an axe in the hands of a pathological criminal.”
If you’ve noticed our steady stream of news releases lately, then you know that we’ve been chopping like crazy. Our progress is not criminal, however. Instead, we are obsessively driven toward making solar energy cost-competitive with energy produced by fossil fuels. To that end, we are simultaneously developing three applications, all based on our Liquid Phase Deposition process.
· Antireflective Coating/Black Silicon
· Roll to Roll Flexible Solar Cells
· Quantum Dot Tandem Solar Cells
Here’s a recap of our recent progress:
Natcore R&D Center. Our private placement, completed in December, has allowed us to consolidate our R & D work at the Eastman Business Park in Rochester, NY. This decision enables us to utilize Kodak resources that are already in place so we can begin our R&D Center with little or no capital expenditures on equipment. Additionally, the Kodak Human Resources department will help us with staffing.
Our initial Intelligent AR Processing System, a very sophisticated piece of equipment that grows an antireflective (AR) coating on silicon wafers in the process of becoming solar cells, will be delivered to our clean room at Kodak so we can make adjustments and refinements before building a second machine. This very sophisticated piece of equipment will allow us to measure the precise thickness of the coating on the wafers while they are in the liquid deposition bath. We’re sending the second AR coating tool to TLNZ, the Chinese manufacturer, who upon successful testing, will buy it.
Black Silicon. We will also integrate our successes in coating black silicon into this AR process. We feel our coating will allow the black silicon process to be commercialized — something that has not been achieved to date — and could increase efficiencies on existing cells by 1% to 2% all by itself. That alone would be a very substantial improvement. It is our plan to integrate this black silicon process into our LPD antireflective process merely by adding additional tubs to our intelligent processing system.
Nanostructured thin-film solar cell. Perhaps one of the biggest benefits of our consolidation at Kodak would be our access to their extensive experience in coating a variety of thin films on a variety of surfaces at high speed. We feel that by integrating our technology, specifically the recently issued patent for nanostructed solar cells, with Kodak’s experience and equipment, we will be able to develop a flexible thin-film solar panel that could reduce the cost to manufacture solar panels by over 50%, to less than 50¢/watt.
It is this process that motivated the White House to try to help us find funding. We are still in contact with them and have been directed to various government agencies to try to obtain the funding needed to bring this technology to commercialization. We have entertained interest and potential offers from other countries, but we are anxious to exhaust potential sources in the United States before we go elsewhere.
Tandem solar cells. Nothing has taken our focus away from quantum dot tandem solar cells. Although we continue the joint research agreement with Rice University and Professor Andrew Barron. we will also make tandem cells a focus of our programs in Rochester to move it along more quickly. We have had success in growing the quantum dots; coating them; and creating in still-rough fashion the types of arrays that would be required for this multi-junction device. We hope to have an early-stage proof-of-concept tandem device within months. While such a device would be far from a full-fledged product, it would be an important achievement nonetheless.
I hope this update helps you understand the significance of all our recent news, and how it all relates to our progress. In short, while we are very excited about our important scientific achievements and business opportunities,we remain sharply focused on achieving revenues in the near term while advancing the technologies that promise to make solar energy commercially viable on a stand-alone basis.
Best Regards,
Charles R Provini
President & CEO
IMO, Natcore's shareholder's will be rewarded. It's just a matter of time and patience.
JB
Totally agree sumi.
Natcore's Annual General Meeting will be held on June 6.
Anybody able to attend? NorthsunO, are you still with us?
PR: Natcore Investors Exercise 3.5 Million Warrants?
Dear Jim,
First, I would like to thank you for your support and positive response in exercising the warrants that came due last Monday. Over 80% of the warrant holders exercised their warrants, which is quite remarkable. We truly appreciate your continued interest in Natcore.
Our Annual General Meeting will be on June 6, 2011 in Vancouver, B.C. I will be at that meeting. There is a possibility that our Chairman, Brien Lundin, will be joining me at that meeting. If you are interested in being present at this year’s meeting, please let us know so we can make sure we have the proper room. In the past the meetings have been held at the offices of Armstrong Simpson, but their space is limited. If we get enough of a response we will be happy to change the location to someplace more suitable.
Look forward to hearing from you and seeing many of you in early June.
Best,
Chuck
Natcore Investors Exercise
3.5 Million Warrants
Red Bank, NJ — (May 11, 2011) —Warrant holders of Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) have exercised approximately 80% of the 4.4 million warrants issued in conjunction with a private placement when the company went public on May 9, 2009. Natcore realized nearly C$2.7 million from the exercised warrants.
Each unit of the May 2009 private placement consisted of a share of Natcore Technology priced at C$0.40 and one warrant with an exercise price of C$0.75. The warrant expiration date was Monday, May 9, 2011 at 4:00 pm Pacific time.
“We truly appreciate this positive response,” says Natcore President and CEO Chuck Provini. “It’s a sign of real investor confidence in Natcore. It shows that they strongly believe in our technology and in our prospects for the future.”
Within the past three months, Natcore has begun production of its intelligent antireflective (AR) coating machine; signed an agreement to sell that machine to TLNZ Solar Technology in China; received a patent on nanostructured solar cells, which will be the basis for a thin-film solar cell ; successfully used its liquid phase deposition (LPD) process to coat textured solar cells; passivated ‘black’ silicon; and established the Natcore Research & Development Center at Eastman Business Park in Rochester, NY. The company continues to make progress on its tandem solar cell.
An additional 2.8 million Natcore warrants, also priced at C$0.75, will expire at the end of the summer.
JB
Welcome to the board Blackgold2! Thanks for sharing your thoughts
JB
MRPANCAKE, Provini did state that Natcore is looking for $15 mil and stated that venture capital was one avenue to explore.
Since then this in a news article ...
http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=2011104220325
The company is trying to raise $15 million to move into manufacturing. While some foreign investors and foreign governments have offered funding, "We're passionate about trying to keep these jobs here," Provini said.
In last weeks message from the president ...
It is this process that motivated the White House to try to help us find funding. We are still in contact with them and have been directed to various government agencies to try to obtain the funding needed to bring this technology to commercialization. We have entertained interest and potential offers from other countries, but we are anxious to exhaust potential sources in the United States before we go elsewhere.
As of now, I think a grant or partnership is far more likely than a private placement. We'll see.
JB
Welcome to the board Gold55.
IMO, the share price is likely to be volatile until Natcore has proven their technology and has customers and revenue. There are those that always think that they can get back in at a lower price. This strategy has worked to some degree so far. However, the strategy will back fire at some point. We could have great news tomorrow that would have the people that sold today kicking themselves.
Before year end, Natcore should have validation of the LPD process in TLNZ Solar's production line, and alot of other good news.
I like the pull backs myself, it gives me a chance to add shares as Natcore is developing their technology!
JB
domasselin, I hope so too! Natcore has implemented a shareholders rights plan to guard against an unwanted take-over.
Email from Natcore with previously posted PR.
PR: Natcore Technology Successfully Uses LPD Process on Textured Solar Cells?
Dear Jim,
Often as a CEO of a technology company, I find my most important job in dealing with our scientists is translating English to English. I thought I would let you know why I think this particular news release and scientific breakthrough is important. Solar cell manufacturers make solar cells in a variety of ways, with a variety of materials. By our coating textured wafers and having the excellent results confirmed at the NASA research center in Ohio, we have expanded the potential client base in the solar industry. Many of the manufacturers that we have communicated with in China used these textured wafers and our results exceeded even our expectations.
We have already sent some of these coated wafers to Chinese manufacturers who are retesting and confirming the NASA results. It is truly an important step in expanding the applications for our LPD process.
If you have any questions, don’t hesitate to give me a call.
Best,
Chuck
Natcore Technology Successfully Uses
LPD Process on Textured Solar Cells
Advance Enables Cost Savings by
Allowing Use of Thinner Silicon Wafers
Red Bank, NJ — (May 5, 2011) — Scientists of Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) have shown that Natcore’s liquid phase deposition (LPD) process can be used to apply an antireflective (AR) coating to textured solar cells as well as standard planar cells, thus opening the door for the industry to achieve even further wafer thickness reductions by eliminating the thermal vacuum AR coating process altogether. The work was conducted by Natcore researchers at the Ohio State University in Columbus, Ohio.
One of the primary ways solar cell manufacturers are striving to reduce the cost of manufacturing silicon solar cells is to reduce the thickness of the wafers from which the cells are made. As the wafers get thinner, however, they lose the ability to fully absorb the light that strikes their front surface; consequently, the efficiency falls. A technique commonly employed to overcome this fundamental limitation is to isotropically etch the front surface of the wafer in order to form a regular pattern of small pyramids on it. The shape and angles of the pyramidal faces are such that more light is refracted into the crystal over a range of angles that prevent the light from travelling straight through the solar cell and being incompletely absorbed. The process, known as texturizing the wafer surface, has gained widespread acceptance in the solar cell industry.
Once texturized, the cells are put through the remaining standard cell processing steps, which include adding the AR coating and the contacts. A growing problem, however, is that the conventional AR coating process requires the cells to travel through a vacuum furnace. As the wafers get thinner and thinner, the conventional AR coating process causes them to warp, reducing the yield from the production process.
Reflectance is the proportion of light striking a surface that is reflected from it. For solar cells, the optimum reflectance is zero; a typical industry reflectance is about six percent. Measurements made at NASA Glenn Research Center in Cleveland, Ohio, show that the reflectance from texturized wafers coated with Natcore’s LPD antireflective coating is reduced to well below two percent over the entire absorption band of silicon solar cells. This represents a two-thirds reduction from the typical reflectance achieved by standard industry practices today, and would be accompanied by an increase in cell efficiency.
“The processing steps for achieving this outstanding result will be implemented in the intelligent processing tool we’re building in Silicon Valley,” says Natcore Chairman Brien Lundin. “We’ve had strong interest in this technology from several solar cell companies in China. We’ll send a number of coated wafers for each of them to process into finished solar cells before we take orders for the industrial version of our intelligent processing tool.” /b]
JB
Disagree, this board was fast becoming a YMB look alike.
JB
Have any concerns regarding the growth of the solar industry? Please read this ...
http://www.reuters.com/article/2011/05/06/china-solar-idUSL3E7G554620110506?feedType=RSS&feedName=rbssEnergyNews&rpc=43
China doubles solar power target to 10 GW by 2015 -paper
The government has also raised its installed solar capacity target for 2020 to 50 GW, up from the previous goal of 20 GW, said Li Junfeng, deputy director-general of the Energy Research Institute of the NDRC.
JB
futr, Natcore totally agrees with you.
From Natcore's power point ...
- The solar industry has been growing at > than 25% annually, but it has become a commodity market--manufacturers fight for the slightest advantages in margins or market share.
- Any technology offering a significant cost savings or gain in solar cell efficency must be adopted.
- Natcore's LPD process offers compelling cost savings out of the gate...and could revolutionize the entire industry by doubling the power output of solar cells.
- Natcore knows of no competing technology. Our advanced LPD process could dominate the market.
My thoughts are that DTT should have completed their audit by March 3. If they waited until then to request additional information, I don't think they were serious about completing the audit on time. No wonder the crap hit the fan.
JB
The financials were pretty much as expected, no surprises.
It'll be nice when they show revenues and profits.
JB
Thanks dougheueing. Here's a cleaner version ...
Message from the President
Dear Jim,
Albert Einstein said “Technological progress is like an axe in the hands of a pathological criminal.”
If you’ve noticed our steady stream of news releases lately, then you know that we’ve been chopping like crazy. Our progress is not criminal, however. Instead, we are obsessively driven toward making solar energy cost-competitive with energy produced by fossil fuels. To that end, we are simultaneously developing three applications, all based on our Liquid Phase Deposition process.
· Antireflective Coating/Black Silicon
· Roll to Roll Flexible Solar Cells
· Quantum Dot Tandem Solar Cells
Here’s a recap of our recent progress:
Natcore R&D Center. Our private placement, completed in December, has allowed us to consolidate our R & D work at the Eastman Business Park in Rochester, NY. This decision enables us to utilize Kodak resources that are already in place so we can begin our R&D Center with little or no capital expenditures on equipment. Additionally, the Kodak Human Resources department will help us with staffing.
Our initial Intelligent AR Processing System, a very sophisticated piece of equipment that grows an antireflective (AR) coating on silicon wafers in the process of becoming solar cells, will be delivered to our clean room at Kodak so we can make adjustments and refinements before building a second machine. This very sophisticated piece of equipment will allow us to measure the precise thickness of the coating on the wafers while they are in the liquid deposition bath. We’re sending the second AR coating tool to TLNZ, the Chinese manufacturer, who upon successful testing, will buy it.
Black Silicon. We will also integrate our successes in coating black silicon into this AR process. We feel our coating will allow the black silicon process to be commercialized — something that has not been achieved to date — and could increase efficiencies on existing cells by 1% to 2% all by itself. That alone would be a very substantial improvement. It is our plan to integrate this black silicon process into our LPD antireflective process merely by adding additional tubs to our intelligent processing system.
Nanostructured thin-film solar cell. Perhaps one of the biggest benefits of our consolidation at Kodak would be our access to their extensive experience in coating a variety of thin films on a variety of surfaces at high speed. We feel that by integrating our technology, specifically the recently issued patent for nanostructed solar cells, with Kodak’s experience and equipment, we will be able to develop a flexible thin-film solar panel that could reduce the cost to manufacture solar panels by over 50%, to less than 50¢/watt.
It is this process that motivated the White House to try to help us find funding. We are still in contact with them and have been directed to various government agencies to try to obtain the funding needed to bring this technology to commercialization. We have entertained interest and potential offers from other countries, but we are anxious to exhaust potential sources in the United States before we go elsewhere.
Tandem solar cells. Nothing has taken our focus away from quantum dot tandem solar cells. Although we continue the joint research agreement with Rice University and Professor Andrew Barron. we will also make tandem cells a focus of our programs in Rochester to move it along more quickly. We have had success in growing the quantum dots; coating them; and creating in still-rough fashion the types of arrays that would be required for this multi-junction device. We hope to have an early-stage proof-of-concept tandem device within months. While such a device would be far from a full-fledged product, it would be an important achievement nonetheless.
I hope this update helps you understand the significance of all our recent news, and how it all relates to our progress. In short, while we are very excited about our important scientific achievements and business opportunities, we remain sharply focused on achieving revenues in the near term while advancing the technologies that promise to make solar energy commercially viable on a stand-alone basis.
Best Regards,
Charles R Provini
President & CEO
Natcore Technology, Inc.
87 Maple Avenue, Red Bank, NJ 07701
732-576-8800, fax 732-576-8809
email: provini@natcoresolar.com
http://www.natcoresolar.com/
Symbol: NXT.V, Toronto Venture Exchange
JB
Ya, I have a bid in for 6,500 @ .90. If I don't get filled by late Friday, I will raise my bid.
GL, JB
Natcore's audited financials for 2010 are out.
http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00026055
From the financials ...
China Joint Venture
On June 22, 2010 the Company formed a joint venture (“Natcore Technology (Zhuzhou) Co., Ltd.”) with a consortium in China to develop and manufacture film-growth equipment and materials using the Company’s proprietary Liquid Phase Deposition (LPD) technology licensed from Rice University. Natcore Technology (Zhuzhou) Co., Ltd. will be 55% owned by the Company, with the Zhuzhou Hi-Tech Industrial Development Zone and a Chinese firm that is currently a producer of polysilicon and a manufacturer of industrial equipment used in the solar industry (together, the “Chinese Partnership”) holding the remaining 45% ownership position.
Note that the Chinese firm (Chuangke Silicon Ltd) is currently a producer of polysilicon and a manufacturer of industrial equipment used in the solar industry.
Prior to this, Chuangke Silicon Ltd has always been referred to as a producer of polysilicon only. This is the first time we were told that they also are a manufaturer of industrial equipment used in the solar industry.
I've wondered if Natcore/China would experience learning curve delays while ramping production of AR equipment. I really like the fact that CS Ltd has experience manufacturing industrial equipment.
GLTA, JB
Oh, so you're the reason I didn't get any at .90 today. LOL
JB
Welcome to the board Teezo and MRPANCAKE.
Long term Natcore should be a fun ride.
JB
copleybmt, we have a confluence of events that may be behind the share price retracement. Without news, I'm guessing that the bottom is .75C and NTCXF .80US. Personally, I expect a strong rebound soon.
Previous post ...
Yes futr, the latest developments are very positive and have me considering adding to my position, again! We are looking good long term.
The next 1 1/2 months could be pretty wild though. Of course, I want to be ahead of any Natcore/Kodak developments. Other noteworthy events are the holding period expirations for the last PP ...
4/23/11 ... 2,469,333
5/5/11 ... 1,563,233
The expiry date for options with a .75 strike price are ...
5/8/11 ... 3,934,026 # as of 9/30/10
8/31/11 ... 2,886,576 # as of 9/30/10
I don't have a clue as to what will be done with all of these shares. My gut feeling is that some will be sold. However, my belief is that positive Natcore/Kodak news will trump any other events.
Hmmmmm,
JB
Some info regarding roll to roll from an email recieved by 2yr on the Stockhouse Board. No date given.
There are actually 3...
As you may have guessed, we are in the process of negotiating a Joint Development Agreement with our friends at Kodak. As soon as the agreement gets rolling we will begin designing proprietary deposition equipment for the roll to roll process. The first several months of that effort are aimed at development of pilot line prototype equipment, followed by a multi-month verification of the design. After that, the full scale production equipment will be designed and tested. The CdSe thin film is made using a chemical bath (LPD) process as is the AR coating. But, the AR coating is a batch process while the CdSe thin film cell will be made by a continuous process.
JB
Excellent synopsis of Natcore's solar business.
Natcore Technology Inc. PinnacleDigest Featured Company
eResearch Corporation 2
Pinnacle Digest Featured Company April 29, 2011
Natcore Technology Inc.
Foreword:
When we select a company as a Pinnacle Digest Featured Company, our primary goal is
obviously to find a stock that has the potential to show a significant return on our investment.
But in order to find a stock that has that potential, we must find a company with a healthy
capital structure, adequate capital in the bank, a management team with a proven track
record, a distinct market advantage (by providing a product that is NEEDED, not just wanted)
and most importantly, a clear business plan that will be acted on immediately. In order to
make a small-cap company work, management must follow through on its development plans
as scripted. This is how we can monitor and grade a company's performance without just
looking at a share price. If management has done everything they promised and done so on
time, that's all we can ask. Typically, when management does everything they say they're
going to do, the share price takes care of itself.
We don't work in the small-cap space to find slow, mature growth. We work in this fast paced
arena to find big return opportunities in a relatively short period of time. No sector offers that
opportunity more frequently than small-caps. Of course, with the potential for tremendous
returns, comes tremendous risk. But that risk can be mitigated with a competent and
accountable management team in place.
When we selected Natcore Technology as our first ever Featured Solar Company back in
October of 2009, it was very much an unknown and thinly traded new company. Despite its
humble beginnings, it had the necessary ingredients we look for (mentioned above); so we
decided to take it on as a client and select it as a Pinnacle Featured Company. Since that time,
Natcore's performance has been nothing short of impressive.
As the commodity bull market rages on, with gold and silver touching new record highs daily,
it's very easy to get swept away in the hysteria. A kind of tunnel vision can emerge and can be
very dangerous. It is important not to forget about companies operating within alternative
sectors as they continue to fight for investment dollars by developing more efficient and
economic products. Natcore Technology (NXT:TSXV), our long-time featured solar company,
has been working at a feverish pace in an attempt to change the way solar power works.
For those of you who don't remember, or weren't part of the Pinnacle community until more
recently, our team introduced Natcore to our members in October of 2009 at $0.355 per share
before most investors even knew it existed. Within seven months the stock hit a high of $1.55
per share, a 335% increase from our introduction price.
While Natcore's share price appreciation didn't shock us, the company exceeded our
expectations in terms of the speed in which its story developed.
Natcore Technology Inc. Pinnacle Featured Company
eResearch Corporation 3
Following our introduction, its story was later told on the Fox Network and other nationally
broadcasted stations. Natcore's President and CEO, Chuck Provini, was even invited to the
White House as he has been implored to keep his company and technology in the United
States.
Natcore's story is one of American innovation (solar industry) in a time when manufacturing
jobs and innovation are being shipped overseas. The company has been courted by state
officials and even officials from the White House to keep its technology and employees at
home in the United States. This should give you an idea of the significance of what Natcore is
working on in its quest to achieve economically viable solar power.
Natcore has recently announced a decision to locate and consolidate its three solar research
centers into one at Kodak's Business Park in Rochester, NY.
Natcore President and CEO, Chuck Provini, stated, that "We chose Rochester for several
reasons. It will give us access to Kodak's considerable prowess in thin-film technology and
much of the infrastructure we will require. In addition, we can tap expertise at Rochester's
distinguished universities."
An investor hoping to understand the gravity of what Natcore is working to accomplish with its
solar technology won't find a better summary than this direct excerpt from its news release on
April 21, 2011:
"The thin-film cells could halve the cost of producing solar energy. The super-efficient tandem
cells could double the power output of today's most efficient commercial solar cells."
What does that mean?
Natcore is working on thin-film solar cells which could cut manufacturing costs in half through
flexible solar cells manufactured using roll-to-roll processes.
Most importantly, Natcore is also making strides towards creating silicon solar cells which could
double the output of today's best commercial solar cells. Higher absorption equals more energy
and power.
Natcore's proven proprietary technology is known as Liquid Phase Deposition, a relatively new
method to improve a fundamental step in the creation of solar panels and solar cells.
Briefing: In today's industry, multi-million-dollar, high-temperature vacuum furnaces are still
used to create solar panels. These furnaces have "gotten the job done," but are a major
contributing factor to the high expense associated with solar panel creation - a primary reason
solar power is not yet profitable on its own.
Enter Natcore's proprietary Liquid Phase Deposition Technology:
Key Fact: Natcore's LPD(Liquid Phase Deposition) Technology has been independently tested
and verified by one of the world's most respected science and technology laboratories. But
here's the key: The technology is in the process of being commercialized at this very moment.
Natcore Technology Inc. Pinnacle Featured Company
eResearch Corporation 4
Natcore Technology's foundational LPD (Liquid Phase Deposition) Technology eliminates the
need for the high-cost furnaces mentioned above. By eliminating the furnaces, Natcore has
proven that its LPD Technology can decrease a step in the solar panel creation process and
reduce standard industry costs for this step by 50%.
The real X factor application, though, will be in the area of "tandem" solar cells. Natcore's
scientists have discovered that its liquid phase deposition process could allow, for the first
time, the mass manufacturing of these super-efficient (30%+) tandem solar cells. For
comparison purposes, such cells could achieve twice the power output of today's most efficient
solar cells.
Until now, these tandem cells have been producible only under lab conditions, and at very high
costs. Natcore's process has the potential to allow their mass production at a lower cost/watt
than anything available today.
Natcore envisions its liquid phase deposition process allowing the manufacture of a tandem cell
consisting of up to three cells arranged one on top the other, starting with an ordinary silicon
solar cell on the bottom.
Something called a cell interconnect comes next, then a second cell made of silicon quantum
dots. This solar cell is tuned to absorb light in the middle of the spectrum, represented in the
picture (below) by the green color.
A second cell interconnect follows and a third cell, another silicon quantum dot device, sits on
top. This uppermost cell is tuned to absorb the blue end of the spectrum.
The combination of all three operating in tandem would produce well over 30% efficiency - or
about double the output of current technology.
For reference, review the accompanying schematic of a third-generation, silicon-quantum dot
tandem solar cell.
See natcoresolar.com
Natcore Technology Inc. Pinnacle Featured Company
eResearch Corporation 5
Natcore's edge in this process is the ability to embed the two types of silicon quantum dots in
the two cells within a layer of silicon dioxide using its LPD film-growth process. All current and
recent attempts to create viable tandem cells have used vacuum deposition techniques that
are expensive and do not allow independent control over the formation of the quantum dots
and the way they are arranged. In other words, no one has ever found a way to massmanufacture
these super-efficient cells... yet.
In fact, Natcore's liquid phase deposition process is what makes it possible to even consider
producing a tandem cell on a commercial scale, let alone in the lab. Not only that, the full
device can also utilize the Company's proprietary AR coating deposition process, thereby
realizing additional production cost savings.
The AR Coating is the result of the LPD process.
In January of 2011 Natcore announced that:
The antireflective (AR) coating technology of Natcore Technology Inc. has been independently
validated by a prominent Chinese solar cell manufacturer.
Several silicon wafers with antireflection coatings prepared by Natcore's researchers at the
Ohio State University were supplied to a Chinese government-selected solar cell manufacturer
for cell finishing and testing. The wafers were coated using Natcore's exclusive liquid phase
deposition (LPD) technology.
The validating company, Hunan TLNZ Solar Technology Ltd., analyzed the composition and
quality of the Natcore-supplied films, added metal front and back contacts to the cells, and
tested their efficiency. Cell efficiencies as high as 15% were measured for this first-ever test of
Natcore's AR coating technology using actual production solar cells. Importantly, the standard
deviation of efficiencies for the entire batch of cells was within normal industry acceptance
limits. The results demonstrate that Natcore's LPD AR coating technology is completely
compatible with standard silicon solar cell production methods and can easily be integrated
into existing solar cell manufacturing facilities.
The validating company also identified the process steps to be included in a commercial
production system that will enable cells using Natcore's AR coating technology to routinely
reach or exceed 17% efficiency in production. This result gives the green light to Natcore
China, Natcore's China joint venture, to complete the development of a beta test system.
"This is a major step on the way from the lab to the marketplace," says Natcore President and
CEO Chuck Provini. "Just as we anticipated, our efficiencies will equal or exceed efficiencies
from cells produced using conventional means. But we're doing so at significantly lower costand
without using high-temperature vacuum furnaces, toxic silane or huge amounts of silicon,
and without the environmental damage created by the old chemical vapor deposition method.
We're replacing the CVD method with our LPD wet chemistry process. And we're making solar
power cost- competitive with conventional power."
Natcore Technology Inc. Pinnacle Featured Company
eResearch Corporation 6
Then, on March 15th 2011, just over one month ago, Natcore announced it had begun work on
the first production model of its intelligent LPD processing station for growing an antireflective
(AR) coating on silicon wafers in the process of becoming solar cells.
By using its exclusive technology, licensed from Rice University, Natcore believes its device will
revolutionize the way solar cells are manufactured. At present, solar cell manufacture involves
an expensive chemical vapor deposition (CVD) method that requires a high-temperature
vacuum furnace; highly toxic and flammable silane and other dangerous chemicals; and silicon
disks of sufficient thickness to withstand the high-temperature firing.
Conversely, Natcore's is a liquid phase deposition (LPD), or wet chemistry, process. It grows
the AR coating in a warm chemical bath; eradicates the need for silane; dramatically reduces
energy requirements; and significantly lowers silicon usage. The resulting solar cells will be less
expensive and less environmentally harmful than conventional solar cells.
Natcore is producing its device at MicroTech Systems, Inc., a 15,000 sq. ft. facility located in
Fremont, CA. The 25-year-old Silicon Valley company designs and manufactures wet stations
for solar, LED, semiconductor, biomedical, data storage and other high technology
applications. MicroTech's intelligent process control will be integrated with Natcore's LPD
technology into a wet process platform.
Natcore's intelligent LPD process station will be a totally enclosed system that contains a preclean
subsystem for wafer cleaning before introduction of wafers into the LPD process; an LPD
process subsystem incorporating Natcore's latest sizing and process control input; and
MicroTech's latest drying module specifically designed for low metallic contamination, which is
important for optimal solar performance.
All that aside, perhaps the major feature of the Natcore device will be its ability to monitor the
coating process throughout. Specifically, it will use MicroTech's spectrometer-based technology
to accurately measure the thickness of the AR coating on a wafer while it is submerged in a
chemical bath, and can alter the composition and duration of the bath in order to produce cells
with greater simplicity and a high degree of precision.
Production will be conducted in two phases. The first phase, estimated to take approximately
8-10 weeks, (we are approaching the conclusion of this stage) will result in a manual
development system, measuring about 8 ft. x 6 ft. x 6 ft., that will allow Natcore scientists to
refine the coating process. At that point, Natcore scientists and MicroTech engineers will
determine what changes need to be made and how much automation they want to add in the
second and final phase. The final production system will measure about 20 ft. x 6 ft. x 8 ft.
high. It will be a self-contained modular system capable of recycling its own effluents and of
producing 3,000 AR-coated wafers/hour.
"This device will be adapted from existing, proven equipment already in wide use in industry,
but will incorporate Natcore's LPD technology in exciting new ways," notes Brien Lundin,
Natcore's Chairman. "The testing that we will do on the initial equipment will have a goal of
rapidly introducing our intelligent device into an existing solar cell fabrication line. Dependent
upon the results of that testing, we hope to have a product ready for sale in the near future."
Natcore Technology Inc. Pinnacle Featured Company
eResearch Corporation 7
"We're building our first production model in the U.S., rather than at our China joint venture,
for reasons of time, quality, and logistics," says Chuck Provini, Natcore's president and CEO.
"We want to set the standard for quality and reliability. By building it in California, we can keep
a close eye on the machine's development without the disruption created by a 12-hour time
difference and the need to travel halfway around the world. And by choosing MicroTech, we
are assured of the highest quality."
"We have been impressed with Natcore's vision of bringing cost effective Liquid Phase
Deposition into solar cell manufacturing and are excited with the working relationship already
established between the companies" says Tom Halloran, Microtech's Director of Business
Development and Program Manager of Microtech.
"We believe that Natcore's LPD technology truly provides a paradigm shift in driving the cost
of solar manufacturing and we wanted to be an integral part of that solution. We feel
privileged to have been chosen as the equipment development partner," states Tom Vukosav,
President and CEO of MicroTech Systems Inc.
Solar energy has been under-used and under-invested in for years because of the simple
reason that it is uneconomic in comparison to other forms of energy. Natcore was founded
with the intent to change that reality. The sun is by far our most powerful renewable energy
source. At some point we are going to harvest its natural energy and wean ourselves off of our
addiction to dirty, non-renewable sources of energy.
Click here to read our first exclusive research report on Natcore Technology - released October
23, 2009.
All the best with your investments,
PINNACLEDIGEST.COM
JB