Quantum Materials Corp. (fka QTMM)

[TedJ]

Further discussion on the status of QMC's solar cell design.

In Sept 2018 QMC announced their capability to mass produce high performance, low cost perovskite quantum dots - paving the way for next generation solar ... applications incorporating PQD materials.

"With our continuous flow process technology QMC can produce high purity PQD’s at a fraction of the cost of the high purity silicon used in silicon solar cells and with solution processing these materials are compatible with monomers for easy implementation utilizing roll-to-roll coating technologies" stated Toshi Ando, Director of Business Development for Quantum Materials Corp.

https://www.globenewswire.com/news-release/2018/09/18/1572510/0/en/Quantum-Materials-Corp-Announces-Capability-to-Mass-Produce-High-Performance-Low-Cost-Perovskite-Quantum-Dots-Paving-the-way-for-Next-Generation-Solar-and-Display-Applications-Inco.html

QMC announced the India deal on November 19, 2018.

In the 3/31/2019 10-Q, QMC described the deal:

License Agreement

The Company believes that the terms of the licensing agreement will enable the Company to begin to leverage its intellectual property portfolio and to begin generating revenues without overburdening the Company’s scientific staff in a manner that would disrupt new discovery. The other participants in the Assam project have the responsibility of, among other things, developing the site, constructing the facilities and hiring staff. The Company has agreed to construct and supply the proprietary equipment, assisting in the development and scale up of the 3rd generation solar, display and SSL products, training and providing a broad range of consulting services at additional cost, representing a potential ongoing revenue opportunity for the Company.

In addition to Company’s efforts to commercialize its QD-LED remote phosphor technology for displays, the Company plans for its core focus in 2019 to be research and development for the optimization of its 3rd generation perovskite QD based solar technology in preparation of scaling up to commercial production levels in Assam, India.

https://www.sec.gov/Archives/edgar/data/1403570/000149315219007756/form10-q.htm

To me that reads that QMC was promising the Indians 3rd generation PQD based solar cell design and manufacturing capability, which still needed further optimization. But QMC was to deliver 3rd generation, not 2nd generation QDSCs as part of the deal.

As stated in the original license agreement, "Licensor is obligated to continual to improve and optimize their patented quantum dot solar cell technology and to achieve a peak solar cell conversion efficiency of 15% on or before the 18th month following execution of this agreement."

https://www.sec.gov/Archives/edgar/data/1403570/000149315219002055/ex10-1.htm

So in 2018, QMC promised the Indians 3rd generation PQD solar cell technology that still required further "development" and "optimization" before the tech could be scaled up for commercial production in 2019.

But since the construction and funding of the Tech City state-of-the-art research and production facility with the required printing equipment installed was delayed and remains on hold, due to monsoons, Covid and QMC pivots to blockchain, anti-C, QMC HID, etc., I have concluded that QMC has not yet completed the development of their 3rd gen PQD solar cell such that it can be commercialized. Yes you can produce a bucket of PQDs in a 100 ft2 lab, but you can't do roll to roll printing in that lab.

That is why I think QMC has now found a potential new U.S. partner to complete the development of the new 3rd generation proprietary perovskite quantum dot solar cell technology developed by Solterra/QMC, they can't wait for Indians to get restarted.

How much progress did QMC make behind the scenes in their Star Park lab over the last year or so, I don't know. Hopefully they are closer a commercially viable product and maybe they have an improved product over the one they needed to finish in 2019, but the latest update indicates to me that they still need more time and money to put a PQD SC on the commercial market.

Quantum Dot solar, other:

Solterra, a wholly-owned subsidiary of QMC, has signed a term sheet with a U.S.-based company to develop a new 3rd generation proprietary perovskite quantum dot solar cell technology developed by Solterra/QMC. We believe this technology will solve the long-term reliability issues that have been the roadblock to the success of all other perovskite solar cells despite their high conversion efficiencies. The term sheet is non-binding and the transaction is subject to satisfactory due diligence, which has been ongoing. We can provide no assurance that we will be able to complete due diligence to our satisfaction, negotiate definitive agreements and ultimately close the transaction. This technology is intended to be part of our immediate commercialization focus.