Natcore Technology Inc (NTCXF)

[JB3729]

I had a lengthy conversation with Tom Scarpa today.

First of all, MX Solar is not at the lab training this week. MicroTech is at the lab giving AR-Box training to the 2 scientists who used to work in the Ohio State U. lab. Sorry for the mix up.

Michelle said she would try to post the lab pictures, taken by Kodak, on Facebook and the website.

The first wafers run through the AR-Box will not be black silicon wafers. Natcore is in the final stages of licensing the black silicon discovery process from NREL. Tom said the cost will be minimal. Also, Tom said that Natcore's LPD process is what makes the black silicon commercially viable, instead of a lab project.

My suspicion that a licensing agreement would be needed came from this statement made in a 4/14/11 Natcore PR: Because of the great potential offered by black silicon solar cells, Natcore is currently in discussions with the NREL as well as industry groups to refine and accelerate Natcore's advances in this area.
http://tmx.quotemedia.com/article.php?newsid=40328748&qm_symbol=NXT:CA

The industrial versions of Natcore's AR-Boxes will have the ability to process black silicon. I asked if the LPD process chemical solution was mostly water. Tom stated that it was almost all deionized water.

Phono Solar has some issues in Europe to deal with. Their US visit has been pushed back 2 weeks. Tom said this delay is fortunate, as it will give Natcore time to be better prepared for Phono's visit.

Natcore's MX Solar dealings also involve other Italian solar panel assemblers and the Italian government. These assembly companies want to jointly produce their own cells. This could be a bigger deal than we expected.

Natcore still expects AR-Box sales before year end.

During their trip to Italy, Provini, Flood, and Barron were introduced to Ferrania Solis S.r.l., an Italian solar manufacturer, whose parent company owns the 'Kodak' of Italy. Tom said they are very interested in Natcore's roll-to-roll ambitions (and they have money). They are coming to the US next week. http://www.ferraniasolis.com/en/about-us

Tom revealed Ferrania Solis as part of his response to my question asking what, if anything, is being done on the research funding front. He also said that He and Chuck are meeting with the Rochester Economic Development group next week.

I also asked for the reply Natcore gives to potential customers when they ask for a tandem cell timeframe. Tom stated that Natcore's reply is,"if you invest in our research and development now, you will have the tandem cell sooner and it will cost you less".

I asked Tom if Natcore has given much thought to funding their research themselves. He said, of course, however, Natcore's plan is to accelerate the development of their silicon based and flexible tandem cells and bring them to market as soon as possible.

This next item really caught me off guard. Tom said there is a possibility that China will ban solar panel exports. This ban would largely be due to China's expected domestic demand. If this happens, think of the expansion at non-China solar plants.

Remember, everything I've written is subject to change, unless it becomes part of a Natcore PR.

I am very happy with what I learned today. IMO, the next few years are going to be very exciting.

JB