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Natcore Technology closes $980,000 private placement

Rochester, NY — (April 27, 2018) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its non-brokered private placement as announced on March 20, 2018. Gross proceeds of CDN$980,000 were raised through the sale of 7,000,000 units at a subscription price of $0.14 per unit.

Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase one further common share at a price of $0.21 for a period of three years from the closing of the private placement.

Finder’s fees of $31,649.11 were paid in cash in association with the placement, and 226,065 finder’s warrants, bearing the same terms as the placement warrants, were issued.

Proceeds of the placement will be used for Natcore’s general corporate and working capital purposes.

All of the shares and warrants issued in the private placement are subject to a hold period in Canada of four months and a day from the date of closing in each instance.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release. 

Natcore Develops Streamlined Process For Ultra-High-Efficiency, Silverless Solar Cell

Prototype To Demonstrate Key Advantages

Rochester, NY — (March 15, 2018) —Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has dramatically streamlined the fabrication method for its revolutionary Natcore Foil Cell™, allowing for even lower-cost production methods.

The use of laser processing to create Natcore’s innovative, all-back-contact cell structure has been eliminated and replaced by a carrier selective contact process. This is combined with a foil metallization that can be cheaply made with high-speed roll-processing methods.

These advances have maintained, and in fact enhance, the two key advantages of Natcore’s Foil Cell:

1) The elimination of high-cost silver. Natcore’s Foil Cell replaces silver, and its high material costs and complicated production processes, with aluminum foils.

At approximately 1/300th the cost of silver, aluminum allows for more metal to be used to maintain conductivity, while also enabling high-speed, high-volume materials handling and processing.

2) The potential for ultra-high efficiencies in an affordable production cell. The silicon heterojunction (SHJ) structure of Natcore’s Foil Cell is the same basic structure used to achieve world-record silicon cell efficiencies of over 26% by major manufacturers in experimental solar cells.

But Natcore’s innovative use of pre-fabricated foils to produce this structure will allow, for the first time, the low-cost mass manufacturing of these ultra-high efficiency, all-back-contact solar cells.

Natcore is targeting over 25% real-world efficiency for its eventual production solar cells, roughly a 25% performance improvement over many high-end commercial cells being installed today.

“The solar industry is exceedingly competitive,” notes Brien Lundin, Natcore’s Chairman. “Studies show that they have to achieve at least a 0.6% performance improvement every year to survive, yet they struggle to clear even this low bar.

“Because Natcore’s Foil Cell will represent a generational leap in performance, we are confident that major industry players will join us in advancing our technology to market.”

Accelerated Prototypge Production And Financing

Natcore has begun an accelerated development program to produce a prototype with the new process, as well as include production cost and efficiency modeling by independent authorities.

The result will be a functioning prototype proving the essential production process, as well as studies establishing the ultimate affordability and ultra-high-efficiency potential of the Foil Cell. Natcore plans to pursue partnerships with leaders in the industry to commercialize its technology. The production of this prototype will be a key part of this process.

To fund the accelerated prototype program, as well as general corporate expenses, Natcore will conduct a financing, the terms of which have yet to be determined.

About Natcore Technology

Natcore Technology is focused on using its proprietary Foil Cell technology to significantly lower the costs and improve the power output of solar cells. www.NatcoreSolar.com

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Statements herein other than purely historical factual information, including statements relating to revenues or profits, or Natcore’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Natcore Technology closes private placement

Rochester, NY — (February 27, 2018) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its proposed non-brokered private placement, as announced on February 23, 2018. Gross proceeds of CDN$87,500 were raised through the sale of 1,250,000 units at a price of $0.07 per unit.  Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase of a further common share at $0.09 for a period of three years.

Finder’s fees of $6,125 were paid in cash in association with the placement, and 87,500 finder’s warrants, bearing the same terms as the placement warrants, were issued.

All securities issued in the private placement are subject to a hold period in Canada expiring on June 27, 2018.  Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release. 

Natcore Negotiating Technology License For Ghana Solar Farm

License Fee Expected to be $2.5 Million

Rochester, NY — (August 15, 2017) — PSECC Solar Farms Ltd, a climate change mitigation company and developer of solar farms, has turned to Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) to help restore financial viability to a 20 MW Ghanaian project that was threatened by a 29% reduction in feed-in tariffs.

A feed-in tariff (FIT) is an economic policy created to promote active investment in and production of renewable energy sources. Feed-in tariffs typically make use of long-term agreements and pricing tied to costs of production for renewable energy producers. In practice, feed-in tariffs may be payments to ordinary energy users for the renewable electricity they generate.

The previous Ghanaian government had set the feed-in-tariff at about $0.137 per KWh, but the government appointed late in December 2016 has recently said that the signing of new Power Purchase Agreements (PPA) can have a maximum FIT payment no greater than $0.10 per KWh.

“The lower FIT payment meant I had to look for the best possible technology choice for solar panels,” says Alan Brewer, CEO and Director of PSECC (www.pseccsolarfarms.com). “That’s when I contacted Natcore, because the increase in power using their technology meant that the revenues could be increased by 10% or more and the project could once again be financially viable.”

PSECC had gained a Provisional License in December 2016 for the 20 MW solar farm at Simbrofo in Ghana. Two additional 20 MW farms are planned for that venue. A commitment for financing the projects has been obtained from a Polish bank via the European Central Bank. The estimated build cost of the first 20MW solar farm at Simbrofo will be $28.776 million.

By licensing Natcore’s technology in Ghana, PSECC would also gain exclusive access, on a regional basis, to Natcore’s newest advances, including laser-processed, back-contact foil cell technology, black silicon and others as they come on line.

Last month, Natcore and PSECC signed a Memorandum of Understanding under which PSECC would engage Natcore to develop solar projects within the United States.

“We estimate that the fee for a license agreement of this size will be about $2.5 million,” says Chuck Provini, Natcore President and CEO. Although we haven’t finalized negotiations, we’re able to make a projection based on the savings anticipated by using our technology.”

“From the beginning, our mantra has been ‘raise the efficiency, lower the cost,’” says Provini. “Our new Natcore Foil Cell™ will do both. It has achieved an efficiency of 20.7% so far, which is already a relative 20% higher than most commercially available solar cells, and it uses a revolutionary laser process with a novel metallization strategy, to create a high-efficiency all-back-contact cell architecture at low cost. Importantly, it also eliminates the need for silver, one of the highest-cost components of a conventional solar cell.”

PSECC has formed Simbrofo Light Ghana Ltd, a special purpose vehicle to take this project forward.

This is the fifth project to be assigned to Natcore as a result of its Best-of-Breed program. Under that program, Natcore functions as a consultant on the design and construction of solar cell/solar panel fabrication facilities and solar farms. Natcore also serves as a general contractor, hiring subcontractors and vetting every component of the project, taking advantage of their status and know-how to get the best available price, quality and efficiency. The company is in various stages of development on projects in Belize, Australia, Vietnam and the United States.

About Natcore Technology

Natcore Technology is focused on using its proprietary nanotechnology discoveries to enable a variety of compelling applications in the solar industry. Specifically, the company is advancing applications in laser processing and black silicon solar cells to significantly lower the costs and improve the power output of solar cells. With 65 patents (31 granted and 34 pending), Natcore is on the leading edge of solar research. www.NatcoreSolar.com

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Statements herein other than purely historical factual information, including statements relating to revenues or profits, or Natcore’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Natcore Technology closes private placement

Rochester, NY — (August 8, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its proposed non-brokered private placement, as announced on June 14, 2017. An aggregate of 2,800,000 units were issued over the three tranches of the private placement, generating aggregate gross proceeds of CDN$532,000. Each unit, sold at a price of $0.19, comprised one common share and one share purchase warrant, with each such warrant entitling the holder to purchase a further common share at $0.24 for a period of three years. Aggregate finder’s fees of $37,240 and 196,000 warrants (issued on the same terms as the units) were paid.

Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release.

Natcore Technology closes third tranche of private placement

Rochester, NY — (July 25, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed the third tranche of its proposed non-brokered private placement, as announced on June 14, 2017. Gross proceeds of CDN$171,000.00 were raised through the sale of 900,000 units at a price of $0.19 per unit. Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase of a further common share at $0.24 for a period of three years.

Finders’ fees were paid in connection with the third tranche, consisting of $11,970 payable in cash and 63,000 finders’ warrants having the same terms of the warrants issuable in the units. All securities issued in the third tranche are subject to a hold period in Canada expiring on November 25, 2017. Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release.

Natcore Technology extends private placement

Rochester, NY — (July 21, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) is extending its previously announced non-brokered private placement, as announced June 14, 2017, for a period of 30 days. As previously announced, the company intends to raise up to CDN$665,000 through the sale of up to 3,500,000 units at a price of CDN$0.19 per unit. Each unit comprises one common share and one share purchase warrant. Each warrant entitles the holder to purchase of a further common share at $0.24 for a period of three years. Finder’s fees may be payable on portions of the placement.

Natcore has previously placed an aggregate of 1,900,000 units, generating gross proceeds of CDN$361,000, in prior tranches of the placement completed on June 16 and July 10, 2017.

Finder’s fees of 7% cash and 7% warrants (on the same terms as the warrants forming part of the units) may be payable on all or a portion of the financing.  Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.  The completion of the placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release. 

Natcore Technology Selected to Develop Solar Projects in U.S.

UK Partner to Secure Financing for First Domestic Venture Arising from Natcore’s “Best of Breed” Program

Rochester, NY — (July 18, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has signed a Memorandum of Understanding with PSECC Solar Farms Ltd., a climate change mitigation company and developer of solar farms, under which PSECC would engage Natcore to develop solar projects within the United States.

Natcore would provide PSECC with access to Natcore’s technology, including some level of exclusivity once that technology becomes commercially available. PSECC would facilitate the U.S. projects by, among other things, providing financial assistance that would include 80% of the funding of the projects at a low interest rate (currently at 4.5%). Such financial assistance would be provided by a large European bank (and possibly others) with which PSECC has a strong relationship. The remaining 20% funding is likely to be obtained from other USA sources or European Institutions.

Initially the companies’ joint efforts will be concentrated in U.S. states that have feed-in tariffs that are mandated by law or regulation, or that have strong precedents: California, Florida, Hawaii, Maine, Oregon, Rhode Island, Vermont and Washington.

A feed-in tariff is an economic policy created to promote active investment in and production of renewable energy sources. Feed-in tariffs typically make use of long-term agreements and pricing tied to costs of production for renewable energy producers.

Natcore scientists have recently achieved an efficiency of 20.7% in their latest demonstration solar cell. That efficiency, which is a relative 20% higher than most commercially available solar cells, was achieved on the Natcore Foil Cell™, an all-back-contact cell that combines a revolutionary laser process with a novel metallization strategy, thus enabling high-efficiency cell architectures at low cost. Importantly, it also eliminates the need for silver, one of the highest-cost components of a conventional solar cell.

This project arose from Natcore’s Best-of-Breed consulting service, under which the company provides unbiased business and technical advice to potential new solar cell and solar panel manufacturers and to established solar manufacturers wishing to upgrade their facilities.

Since Natcore is not itself a manufacturer, it is able to buy components or employ vendors without bias. Thus, Natcore will have the freedom to provide optimum products with appropriate warranties and efficiencies.

This is the fourth project to be assigned to Natcore as a result of its Best-of-Breed program. The company is already working on projects in Belize, Australia and Vietnam.

“We’ve been looking for American partners to help us plant our technology here on our own soil,” says Natcore President and CEO Chuck Provini. “We have knocked on many doors in this county, but it appears that no one is home in the U. S. when it comes to solar, regardless of the administration. We find it ironic that we’ve had to go to Europe to make it happen.”

“PSECC has solar and energy projects around the world, but we feel that the United States is an underserviced and untapped market,” says Alan Brewer, CEO and Director of PSECC (www.pseccsolarfarms.com). “We feel strongly that Natcore is the right company to help us expand that market.  Clean energy is important, not just to countries but to the planet.”

Headquartered in Chichester, West Sussex, England, PSECC has expertise in site identification, design, finance and engineering; procurement and construction (EPC) services related to solar farms and projects; and in providing solutions for the development of solar farms, solar PV energy policy, energy strategy and integrated waste management business solutions. The company is currently developing solar farms in Konza, Kenya; Mombasa, Kenya; and Simbrofo, Ghana.

About Natcore Technology

Natcore Technology is focused on using its proprietary nanotechnology discoveries to enable a variety of compelling applications in the solar industry. Specifically, the company is advancing applications in laser processing and black silicon to significantly lower the costs and improve the power output of solar cells. With 65 patents (30 granted and 35 pending), Natcore is on the leading edge of solar research. www.NatcoreSolar.com

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Statements herein other than purely historical factual information, including statements relating to revenues or profits, or Natcore’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Natcore Technology to Present Paper to IEEE Photovoltaic Conference

“This will be the first time that the Natcore Foil Cell™ will be exposed in detail to the PV scientific community”: Provini

Rochester, NY — (May 24, 2017) — Scientists at Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) have been selected to present a technical paper to the 44th IEEE Photovoltaic Specialists Conference (PVSC-44), the pre-eminent global technical conference in photovoltaics.

Titled “Multilayer Foil Metallization for All Back Contact Cells,” the paper is co-authored by Dr. David Levy, Natcore’s Director of Research & Technology, and Dr. David Carlson, a member of Natcore’s Science Advisory Board. Dr. Levy will make the oral presentation.

The presentation will formally introduce the Natcore Foil Cell™ to the PV scientific community. Natcore’s foil cell is an all-back-contact cell that combines a new laser process with a novel metallization strategy, thus enabling high-efficiency cell architectures at low cost. Importantly, it also eliminates the need for silver, one of the highest-cost components of a conventional solar cell.

Furthermore, it benefits from the advantages of all-back-contact structures, particularly a low cell-to-module loss. Whenever traditional solar cells are assembled into modules, there is a significant loss of efficiency. These losses, which can range from 6% to 10%, are minimized on modules made with all-back-contact cells.

Natcore scientists have recently achieved an efficiency of 20.7% in their demonstration foil cell. Their result has received independent confirmation at the NanoPower Research Lab of the Rochester Institute of Technology.

“Although our efficiencies have been approaching that level for a few months, we didn’t want to go to the scientific community until our result was substantiated by an authoritative outside source,” says Chuck Provini, Natcore’s president and CEO.

“We’re pleased that our paper was accepted by IEEE for an oral presentation,” he adds. “Of all the papers presented at the conference, fewer than one-third of significant technical merit are selected for oral presentation.”

The Institute of Electrical and Electronic Engineers is the world’s largest technical society and is the official conference sponsor. PVSC will be attended by about 1500 persons in academic institutions and company laboratories from more than 40 countries worldwide. It is considered the premier technical conference on photovoltaic energy conversion and is the longest running conference on the topic. It will be held from June 25th to 30th at the Washington Marriott Wardman Park in Washington, D.C. Natcore will present at 11:45 am on Friday, June 30.

Before joining Natcore in 2012, Dr. Levy invented the atmospheric Spatial Atomic Layer Deposition process (SALD) at Eastman Kodak, where he spent 20 years. He has been granted 90 patents and has authored 11 peer-reviewed journal articles. He has been an invited presenter at meetings of the Materials Research Society and the American Vacuum Society.

Dr. Carlson is a physicist with a worldwide reputation in photovoltaics and materials science. Until his recent retirement, he was the chief scientist of BP Solar, for whom he managed future technology programs and the intellectual property system.

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Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or Natcore’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Natcore Technology Appoints McMillan LLP As Legal Counsel

Rochester, NY — (May 5, 2017) —The Board of Directors of Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has appointed McMillan LLP, a leading business law firm serving public, private and not-for-profit clients across key industries in Canada, the United States and internationally. McMillan has 400 attorneys in offices in Vancouver, Calgary, Toronto, Ottawa, Montréal and Hong Kong.

McMillan replaces the Vancouver law firm Armstrong Simpson.

“As our technology and our best-of-breed business attract more international attention, we need a law firm with an international practice and with experience in cross-border transactions, ” says Chuck Provini, Natcore’s president and CEO. “McMillan fits our needs.”

Provini will temporarily serve as Natcore’s Corporate Secretary in place of Shauna Hartman, a Corporate Commercial Solicitor at Armstrong Simpson.

Natcore’s Board of Directors has also accepted the resignation of John Meekison as a member of the Board. Meekison is leaving because his new business activities have significantly increased the potential for personal conflicts of interest.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.