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Octillion Corp. (Symbol: OCTL) today announced expansion of the Company's research and development program with plans to identify, evaluate and acquire strategic enabling and complementary photovoltaic technologies in order to further accelerate development of the world's first-of-its-kind transparent window capable of generating electricity.
"Today's announcement to bolster the development of our NanoPower Window™ with the potential acquisition of key technologies follows on the heels of important research-related developments and several, favorable corporate events," explained Octillion President and CEO, Mr. Nicholas S. Cucinelli.
In recent months, the Company's efforts have produced encouraging outcomes from internal research of silicon nanoparticles incorporated into Octillion's NanoPower Window™ technology. In addition, several published studies by researchers in prominent peer-reviewed journals have demonstrated enhanced power output of conventional solar panels coated with silicon nanoparticles and corroborated the presence of a high-energy effect found in silicon nanoparticle materials.
Prompted by positive research results, the Company announced plans in August 2007 to focus exclusively on the development of solar-photovoltaic technologies and to initiate the spin-off of its wholly-owned biotechnology subsidiary, MicroChannel Technologies Corporation, whose shares will be distributed as a special dividend to shareholders of Octillion on a one-for-one basis.
"The spin-out of our Company's biotechnology subsidiary allows us to move ahead with a solid mandate to strengthen our photovoltaic technology portfolio. We're also now able to truly leverage the collective experience of our recently-enhanced Board of Directors, who bring us decades of experience in sustainable development, and the research, development and commercialization of renewable, alternative, and conventional energy technologies.
"I very much look forward to building on our recent successes and firmly establishing Octillion's position as an early leader in solar-photovoltaic technologies which stand to radically transform the way in which we power our homes, offices and buildings," concluded Mr. Cucinelli.
About Octillion Corp.
Octillion Corp. is a technology incubator focused on the identification, acquisition, development and eventual commercialization of emerging solar energy and solar related technologies.
Among our current research and development activities is the development of a technology that could adapt existing home and office glass windows into ones capable of generating electricity from solar energy without losing significant transparency or requiring major changes in manufacturing infrastructure.
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http://www.octillioncorp.com/OCTL_20071128.html of this release
Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although Octillion Corp. (the “Company” or “Octillion”) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. We currently have no commercial products intended to diagnose, treat, prevent or cure any disease. The statements contained in this press release regarding our on going research and development and the results attained by us to-date have not been evaluated by the Food and Drug Administration. There can be no assurance that further research and development, and /or whether clinical trial results, if any, will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that Octillion will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov . The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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Mr. Nicholas S. Cucinelli
Suite 2 – 2638 Lapeer Road
Auburn Hills, MI 48326
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