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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.

Natcore Surpasses 20% Efficiency Milestone With Innovative Laser-Based Solar Cell Structure

20.7% confirmed by independent research lab;

path to higher efficiencies outlined

Rochester, NY — (May 2, 2017) — Scientists at Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) have achieved an efficiency of 20.7% in their latest demonstration solar cell. Their result has received independent confirmation at the NanoPower Research Lab of the Rochester Institute of Technology.

Natcore’s device efficiency has now increased by more than three absolute percent since June, when the company announced an efficiency of 17.5%. At that level, Natcore’s cells were roughly equivalent to typical commercial cells being sold today. Natcore’s newest cells, with an efficiency that is a relative 20% higher than the prior cells, show the company’s steep rate of progress.

The result 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.

“We consider this to be a good stake in the ground,” says Dr. David Levy, Natcore’s Director of Research and Technology. “Traditional all-back-contact cells use interdigitated back contacts. While high efficiencies are proven with that approach, the processing is complex, and so keeps them from being widely adopted. The Natcore foil approach, due to its simplicity and reliance on very cheap aluminum, promises to change that dynamic. Our approach is easily implemented into a production line, not just in the lab.”

The recent rapid advancements in efficiencies have been achieved as Natcore’s team overcame some previously persistent technical roadblocks. By solving these problems, and with exciting new approaches in hand, they have now produced a research plan to push toward efficiencies well over 24%.

“Our structure also enables our Foil Cell to be integrated into full 60 cell panels with a significant reduction in cell-to-module losses,” adds Chuck Provini, Natcore’s president and CEO. “So, despite the perception that government support of the solar industry might be eliminated, the Foil Cell makes us sanguine about our future. It will be sought after by solar cell manufacturers who want both high efficiency and low cost, so it will generate revenue via licensing agreements, royalties and material sales.”

The NanoPower Research Lab represents a consortium of RIT faculty members from the Kate Gleason College of Engineering and the College of Science working on applications of nanomaterials in energy and photonics. The laboratories span over 6,000 square feet of research space.

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, Natcore is advancing applications in laser processing, black silicon and quantum-dot solar cells to significantly lower the costs and improve the power output of solar cells. With 65 patents (31 granted, 34 pending), Natcore is on the leading edge of solar research. www.NatcoreSolar.com.

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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. Such 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.

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 announces private placement

Rochester, NY — (April 7, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has announced its intent to raise CDN$190,000 via a non-brokered private placement.

The placement involves the sale of up to 1,000,000 units at a price of CDN$0.19 per unit. Each unit comprises one common share and one share purchase warrant. Each warrant will entitle the holder to purchase a further common share at $0.25 for a period of 36 months from closing.

Finder’s fees 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, Denzo to Double Scope of Queensland Solar Farm

Partnership will add Denikon, Italian solar energy company

Rochester, NY — (March 2, 2017) — Natcore Technology (TSX-V: NXT; OTCQB: NTCXF), in partnership with Denzo Group Australia, has increased the size of a solar project planned for Bundaberg, Australia. Bundaberg is in the Wide Bay–Burnett Region of Queensland.

Originally announced as a 30 MW solar farm on a 90-hectare site, the project will now be a 58 MW farm on a 188-hectare site, and will have land set aside for a proof-of-concept battery storage facility. Denzo has secured the land; has advanced negotiations with the Powerlink, the transmission owner; and has filed a pre-development application to the Bundaberg Regional Council, receipt of which has been acknowledged.

Denzo has a pipeline of 200 megawatts of large-scale solar projects in progress in the east coast of Australia, Queensland and New South Wales. “Our intention is to use Natcore’s ‘Best of Breed’ innovation to produce a working example of the very latest solar generation technology, coupled with the best storage available to generate stable electricity at a realistic capital investment and a bankable ROI,” says Ken Mathews, Managing Director of Denzo.

Under its “Best of Breed” program, Natcore functions as a consultant or general contractor on the design and construction of solar cell/solar panel fabrication facilities and solar power farms. As part of this service, Natcore recommends a selection of manufacturing equipment to its clients. Clients would also gain exclusive access, on a geographical basis, to Natcore’s newest technologies, including black silicon, laser processing and rear contact technology as those technologies come on line.

To develop the Queensland project, Natcore and Denzo plan to form Clean Holdings Pty Ltd., a Special Purpose Vehicle in Australia.

“This project is moving along nicely,” says Natcore President and CEO Chuck Provini. “We’re mostly dealing with the private sector here, so there are precedents that help guide us from beginning to end, including predictable cost and pricing models.”

About Denzo Group Australia

Denzo was started in Australia in 1965 as a private company with auto service stations and retail tire outlets. In 1982, the company was converted to Denzo Pty Limited, as Trustee for the Mathews No. 1 Family Trust. The company is headquartered in Terrigal, NSW.

Denzo Pty Limited has operated in Australia, Singapore, Thailand, Indonesia, China, South Korea and the United States. The company has been involved in alternative fuels (LNG, solar), import (cars, yachts) and export, manufacturing (gas meters, automotive plastics), and retail sales.

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 solar cells to significantly lower the costs and improve the power output of solar cells. With 65 patents (31 granted, 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 — (February 17, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its proposed non-brokered private placement, as announced on February 3, 2017. Gross proceeds of $221,000.00 were raised through the sale of 650,000 units at a price of $0.34 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 $0.40 for a period of 36 months.

Finder’s fees of $15,470.00 were paid in cash in association with the placement, and 45,500 finder’s warrants, bearing the same terms as the placement warrants, were issued.

All securities issued in the initial tranche are subject to a hold period in Canada expiring on June 16, 2017. Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

Additionally, Natcore confirms it has issued 140,000 shares to a consultant for legal services rendered, such shares bearing a hold period in Canada expiring on June 9, 2017.

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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 announces private placement

Rochester, NY — (February 3, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has announced its intent to raise CDN$221,000 via a non-brokered private placement.

The placement involves the sale of up to 650,000 units at a price of $0.34 per unit. Each unit comprises one common share and one share purchase warrant. Each warrant will entitle the holder to purchase a further common share at $0.40 for a period of 36 months from closing.

Finder’s fees of 7% cash and 7% warrants (on the same terms as the warrants forming part of the units) will be paid in connection with the private placement. 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.

Additionally, in order to preserve cash on hand, Natcore has entered into a consulting arrangement with a third party services provider which provides that the company will issue 140,000 common shares in exchange for legal services rendered. The consulting arrangement 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 closes final tranche of private placement

Rochester, NY — (January 24, 2017) — Natcore Technology Inc. (TSX-V: NXT; NTCXF: OTCQB) has completed the third and final tranche of its proposed non-brokered private placement, as announced on December 2, 2016, on January 9, 2017. Gross proceeds of $214,578.00 were raised through the sale of 1,021,800 units at a price of $0.21 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 $0.25 for a period of 36 months.

No finder’s fees were paid in association with the final tranche.

All securities issued in the third tranche are subject to a hold period in Canada expiring on May 10, 2017. Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

An aggregate of 2,521,800 units were issued over the three tranches of the private placement, generating aggregate gross proceeds of $529,578.00. Aggregate finder’s fees of $14,700.00 and 70,000 warrants (issued on the same terms as the units) were paid.

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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’s 200 MW Vietnam Solar Project Receives Essential Government Approvals

Rochester, NY — (January 10, 2017) — A US$300 million solar project managed by Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has been included in the list of selected projects for the development of solar energy in Vietnam’s Binh Thuan Province of Vietnam, and has been approved by the Province People’s Committee.

Next up: confirmation by VietNam Electricity (EVN) and by the Ministry of Industry and Trade (MOIT).

Only projects listed and approved in this manner can be developed in Binh Thuan Province. EVN is the largest power company in Vietnam, with an installed electricity generation capacity of 23,579 MW and a transmission network of 13,597 miles (as of 2015). MOIT is the Vietnamese government ministry responsible for the advancement, promotion, governance, regulation, management and growth of industry and trade.

The 200MW project will be completed in several phases. By developing the project in tranches, Natcore and its partners will be able to generate revenue before the entire project is completed. The first site would occupy 95 hectares (235 acres).

At the request of financial institutions, including banks and investment funds, Natcore has completed these documents for submission:

  • Feasibility Study for a Preliminary Project of 56.18 MW;
  • Business Plan;
  • A partial Information Memorandum.
  • Land Use Agreement;

Natcore is working on the project with a European developer of international renewable energy projects and a Vietnamese consortium. A holding company will be formed to develop the project.

This project is an outgrowth of Natcore’s “Best of Breed” program, under which the company functions as a consultant on the design and construction of solar cell/solar panel fabrication facilities and solar power farms. As part of this service, Natcore recommends a selection of manufacturing equipment to its clients. For the Vietnam project, Natcore has already received offer from suppliers of these components and services:

  • Modules
  • Inverters
  • Design, engineering and supervision
  • Engineering, Procurement and Construction (EPC)
  • Electrical Substation

Natcore first announced the project on 8/16/16, when the company and its partners signed a Memorandum of Understanding. Natcore will be compensated on a “cost-plus” basis and with licensing fees for its technology as it is provided.

“We’re extremely excited about the rapid advancement of this project and our achievement of these key benchmarks,” says Natcore President and CEO Chuck Provini. “We expect to travel to Vietnam in the near future to finalize the next steps with our local partners.”

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, black silicon and quantum-dot 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.