Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Magnolia Solar Corporation Completes Phase I Milestones

Abstract:
Progresses to Phase II of NYSERDA Contract for the Development of Low-Cost, Nanostructured, Thin-Film Solar Cells

Magnolia Solar Corporation Completes Phase I Milestones

Woburn, MA & Albany, NY | Posted on October 18th, 2010

Magnolia Solar Corporation (MGLT 0.70, +0.07, +11.11%) ("Magnolia Solar"), announced today that its wholly owned subsidiary has recently received funding for a Phase II contract from the New York State Energy Research and Development Authority (NYSERDA). This contract is for continued effort to demonstrate high-efficiency nanostructured thin film solar cells, and represents the second phase of a previously announced three-phase, one million dollar development program.

The award of the Phase II funds was approved after the Magnolia team met the Phase I milestones for the development of nanostructure based thin film solar cells. Phase I accomplishments included the demonstration of advanced, tunable antireflection coatings for solar cells on glass substrates and the development of nanostructured absorber materials to capture a larger part of the solar spectrum for the high efficiency solar cell development. For the Phase II efforts, Magnolia Solar will continue optimizing this unique solar cell technology.

Magnolia Solar has opened an office at the Albany Nanotech complex on the University of Albany campus. This allows Magnolia employees to collaborate closely with the development team members at the College of Nanoscale Science and Engineering (CNSE) and Rensselaer Polytechnic Institute (RPI), and to better capitalize on the world-class characterization facilities available in the New York Capital region.

Dr. Ashok K. Sood, the President and CEO of Magnolia Solar Corporation, said, "We are delighted to be working very closely with NYSERDA and our University partners in the New York Capital region. Progress to Phase II represents completion of an important milestone in our development program. We are committed to growing in the Albany region, leveraging the tremendous infrastructure at the Albany Nanotech Center. We intend to provide environmentally responsible, low cost solutions for the solar power industry and to be part of the New York state's energy future."

Forward-Looking Statements: This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

####

About Magnolia Solar Corporation
Magnolia Solar was founded in 2008 to commercialize its nanotechnology-based, high efficiency, thin film technology that can be deposited on glass and other flexible structures. This technology has the ability to capture a larger part of the solar spectrum to produce high efficiency solar cells, and incorporates a unique nanostructure-based antireflection coating technology to further increase the solar cell's efficiency thereby reducing the cost per watt.

Magnolia Solar is developing thin film, high efficiency solar cells based on low cost substrates such as glass and polymers. Magnolia intends to become a highly competitive, low cost provider of terrestrial photovoltaic cells for both civilian and military applications. Magnolia's primary goal is to introduce a product which offers significant cost savings per watt over traditional silicon based solar cells. Magnolia's technology is being developed to be utilized in power generation applications for electrical grids as well as distributed applications including lighting, and other residential and commercial applications.

For more information, please visit www.MagnoliaSolar.com.

For more information, please click here

Contacts:
Hanover Financial Services
Ronald J. Blekicki
303-494-3617

Copyright © Magnolia Solar Corporation

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Untangling DNA with a droplet of water, a pipet and a polymer: With the 'rolling droplet technique,' a DNA-injected water droplet rolls like a ball over a platelet, sticking the DNA to the plate surface February 27th, 2015

Rice's Stephan Link honored for nanoscience research: The Welch Foundation honors ‘rising star’ with $100,000 Hackerman Award February 26th, 2015

Indefinite Life Extension Activists Organize Online Demonstration February 26th, 2015

Renishaw and Bruker team up for a workshop on TERS and co-localised AFM Raman February 26th, 2015

Govt.-Legislation/Regulation/Funding/Policy

Warming up the world of superconductors: Clusters of aluminum metal atoms become superconductive at surprisingly high temperatures February 25th, 2015

SUNY Poly CNSE Researchers and Corporate Partners to Present Forty Papers at Globally Recognized Lithography Conference: SUNY Poly CNSE Research Group Awarded Both ‘Best Research Paper’ and ‘Best Research Poster’ at SPIE Advanced Lithography 2015 forum February 25th, 2015

European roadmap for graphene science and technology published February 25th, 2015

Cutting-edge technology optimizes cancer therapy with nanomedicine drug combinations: UCLA bioengineers develop platform that offers personalized approach to treatment February 24th, 2015

Announcements

Untangling DNA with a droplet of water, a pipet and a polymer: With the 'rolling droplet technique,' a DNA-injected water droplet rolls like a ball over a platelet, sticking the DNA to the plate surface February 27th, 2015

Real-time observation of bond formation by using femtosecond X-ray liquidography February 26th, 2015

Bruker-Sponsored Sixth AFM BioMed Conference Highlights Increasing Impact of AFM in Biological Applications February 26th, 2015

Graphene shows potential as novel anti-cancer therapeutic strategy: University of Manchester scientists have used graphene to target and neutralise cancer stem cells while not harming other cells February 26th, 2015

Energy

In quest for better lithium-air batteries, chemists boost carbon's stability: Nanoparticle coatings improve stability, cyclability of '3DOm' carbon February 25th, 2015

New nanowire structure absorbs light efficiently: Dual-type nanowire arrays can be used in applications such as LEDs and solar cells February 25th, 2015

Learning by eye: Silicon micro-funnels increase the efficiency of solar cells February 25th, 2015

Magnetic nanoparticles enhance performance of solar cells X-ray study points the way to higher energy yields February 25th, 2015

Solar/Photovoltaic

New nanowire structure absorbs light efficiently: Dual-type nanowire arrays can be used in applications such as LEDs and solar cells February 25th, 2015

Learning by eye: Silicon micro-funnels increase the efficiency of solar cells February 25th, 2015

Magnetic nanoparticles enhance performance of solar cells X-ray study points the way to higher energy yields February 25th, 2015

Researchers enable solar cells to use more sunlight February 25th, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE