Most Substantial Improvements In 60 Years Continue Drive to Lower Cost of Solar Energy

Rochester, NY — (August 18, 2015) — When Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) announced the development of a breakthrough solar cell structure on July 9, they indicated that the new low-cost configuration might allow for the elimination of silver from mass-produced solar cells.

In the intervening weeks, that long-time goal of solar scientists has been achieved.

Working in their Rochester R&D Center, Natcore scientists have built an all-back-contact silicon heterojunction cell structure in which silver has been completely eliminated. It has been replaced by aluminum.

This substitution has been accomplished with no loss of performance.

When sunlight hits a silicon cell, it generates electrons. Ever since practical solar cells have been made – about 60 years ago – silver has been used as a conductor to collect these electrons in order to form a useful electric current. Silver was originally chosen for this role because it is a high-conductivity metal. The average solar panel uses about one-half of an ounce of silver.

Silver represents >48% of the metallization cost of a solar cell, or about 11% of the total raw material cost of a solar module.

The cost saving realized by switching from silver to aluminum are important. That’s because silver, while highly conductive, is also high-cost. At today’s prices, silver costs about $15.28 per troy ounce. The same quantity of aluminum costs $0.05, about 0.3% of the cost of silver.

Even considering that it would be necessary to use twice as much aluminum as silver in order to have an equal amount of conductivity from cell to cell, the raw material cost of aluminum would still be just 0.6% of the direct material cost of using silver in the cell.

Natcore’s novel design allows for aluminum to be easily substituted for silver. Natcore scientists used their proprietary laser technology to apply contacts to the rear of the cell as well as for other critical aspects of the process.

“Within the past month, our scientists have wrought historic changes in the architecture and the economics of the solar cell,” says Chuck Provini, Natcore president and CEO. “Solar cell manufacturers will no longer be subject to the vagaries of the silver market. We are now able to produce solar cells at a substantial cost savings thanks to improvements achievable by our proprietary laser technology. We expect to file a provisional patent application within the next two weeks.”

Roughly 1.5 million ounces of silver are currently required to generate 1 GW of solar power. That demand translated into roughly 60 million ounces of silver in 2014, or about 6% of the total demand for the metal. Before Natcore’s achievement, that demand was projected to rise to 15% of the total market in 2018.

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 59 patents (24 granted and 35 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. 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.

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. 

Rochester, NY — (August 17, 2015) — In order to preserve their cash on hand, Natcore Technology entered into a consulting arrangement with a third party services provider which provides that Natcore will issue 325,000 common shares at a deemed price of $0.45 per share in exchange for 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. 

Rochester, NY — (August 6, 2015) —Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF; DAX: 8NT) is entering into an investment agreement in the amount of US$10 million with Dutchess Opportunity Fund II.

During the 36-month term of the agreement, Dutchess will be required, at the option of Natcore, to purchase up to $10 million of Natcore common stock. Natcore will control the timing and amount of any share sales to Dutchess and a minimum price of the common stock to be issued.

The agreement is subject to receipt of all required regulatory approvals, including from the TSX Venture Exchange.

Under the agreement, Dutchess is required to purchase Natcore shares at a discount of 5% from the market price of the shares on the OTCQB at the time of each transaction. No commissions or compensation is to be paid by Natcore as a result of signing the Agreement.

“Using an equity line facility is a strategic way for Natcore to limit unnecessary dilution typically associated with larger equity offerings,” says Chuck Provini, Natcore president and CEO. “The amount of capital we can bring in with each specific draw is directly tied to our market situation. If our stock has a significant rise, we would have immediate access to capital. We can take advantage of the upward momentum in our share price.”

“Furthermore, we’re able to have some degree of control over the trading price. When we place a put (a request to Dutchess to purchase shares at the market price), we can set the floor price, so the shares never have to sell below the threshold that we determine.” The minimum price specified by Natcore may not be lower than the maximum permitted discount under the private placement rules of the TSX Venture Exchange.

The maximum amount that can be raised in any single issuance will be the greater of (i) US$200,000 or (ii) 200% of the product of the average daily volume of Natcore’s shares on the OTCQB for the three trading days immediately preceding the date of the draw notice and the average closing price of the shares on the OTCQB over the same period.

A copy of the Agreement will be filed electronically at www.sedar.com.

Dutchess Capital is an investment manager that provides financing for public companies. Founded in 2000, Dutchess has been a global leader in Equity Line Facilities and has transacted $2 billion in such financings worldwide.

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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.

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. 

Rochester, NY — (August 4, 2015) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed the second and final tranche of its proposed non-brokered private placement, as announced on July 20, 2015. Gross proceeds of $443.880 were raised through the sale of 822,000 units at a price of $0.54 per unit.

An aggregate of 1,822,000 units were sold in both tranches of the private placement for aggregate gross proceeds of $983,880. Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase of a further common share at $0.74 for a period of three years.

Aggregate finders fees of $39,690 in cash and 73,500 warrants, having the same terms as the warrants issued in the private placement, were also paid.

All securities issued in the final tranche are subject to a hold period in Canada expiring on December 1, 2015. Proceeds of the placement will be applied to further development of the Company’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.

Rochester, NY — (July 28, 2015) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) is pleased to announce it has completed the first tranche of its proposed non-brokered private placement, as announced on July 20, 2015. Gross proceeds of $540,000.00 were raised through the sale of 1,000,000 units at a price of $0.54 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 $0.74 for a period of three years.

All securities issued in the initial tranche are subject to a hold period in Canada expiring on November 24, 2015. Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

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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.

Rochester, NY — (July 22, 2015) —Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF; DAX: 8NT) has been approved to trade on OTCQB, an over-the-counter marketplace organized for venture-stage or early-stage companies.

This is an upgrade from OTC Pink (the “pink sheets”), where Natcore had previously traded. To be quoted on OTC Pink, companies are not required to file with the SEC. But on June 2, Natcore announced that it had become fully reporting with the SEC, a prerequisite to being upgraded to OTCQB.

On the OTCQB, Natcore’s trading symbol will continue to be NTCXF, as it was on OTC Pink.

“The U.S. is the largest financial market in the world,” says Chuck Provini, Natcore’s president and CEO. “The OTCQB alone puts us in a marketplace where there were $63 billion in trades last year. We remain listed on the Toronto Venture Exchange (TSX-V), where there were $15 billion in trades in 2014. Combined, the two will offer Natcore investors outstanding liquidity and trade execution.”

American investors can now follow Natcore on http://www.otcmarkets.com/stock/NTCXF/quote, where share prices are quoted in U.S. dollars. On TSX-V, they are quoted in Canadian dollars.

OTC Markets Group Inc. organizes securities into marketplaces to distinguish levels of opportunity and risk: OTCQX, which it calls “The Best Marketplace with Qualified Companies”; OTCQB, positioned as “The Venture Stage Marketplace with U.S. Reporting Companies”; and OTC Pink, described as “The Open Marketplace with Variable Reporting Companies.”

Natcore was organized in August 2007. The company went public in May 2009 on the Toronto Venture Exchange (TSX-V). In June 2013, the company also became listed on the Quotation Board of the Frankfurt Stock Exchange, where its symbol is 8NT.

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 59 patents (24 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.

Rochester, NY — (July 20, 2015) — Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) announces that it intends to arrange a non-brokered financing with existing and previous shareholders to raise up to $1.5 million.

Each unit of the financing will consist of a share of Natcore stock priced at CDN$0.54 and a full three-year warrant at CDN$0.74. Funds generated from the financing will be used for the continued optimization of products close to commercialization such as Natcore’s development of laser-processed back-side contact laser “HIT”solar cells and black-silicon solar cells

Finder’s fees may be payable on all or a portion of the financing.  The completion of the placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.

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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.

Relocates Corporate Headquarters, Extends Business Park Lease, Adds to Staff

Rochester, NY —July 14, 2015 — Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) has taken three steps to deepen its roots in the Rochester community.

The company has relocated its corporate headquarters from Red Bank, NJ, to its operations office at 189 N. Water St. in downtown Rochester. Natcore opened this office in June 2013. The Red Bank office was opened in 2009.

At Eastman Business Park, Natcore has extended the lease for its Research & Development Center for an additional two years. The center opened in March 2012 with a ceremony attended by Congresswoman Louise Slaughter, area political leaders and members of the Rochester business and professional investment communities. Ted Zubil, Natcore’s first employee in Rochester and now the company’s Director of Operations, negotiated the lease for Natcore.

The 19,000 ft² facility houses a laboratory/clean room, a gowning room, administration offices and a warehouse. The 8,000 ft² Class ISO 7 (Class 10,000) clean room uses positive air pressure and a series of filters to eliminate 90% of environmental pollutants (e.g., dust, airborne microbes, aerosol particles and chemical vapors) from outside air.

And Natcore has hired Susan M. Hearn as Business Specialist in the Water Street office. Susan comes to Natcore from Eastman Kodak, where she had worked since 1982, most recently as Executive Administrative Assistant to the VP of Corporate Purchasing. A graduate of Nazareth Academy High School in Rochester, Susan completed her Certified Professional Secretary Certification at Bryant & Stratton in Rochester.

“Rochester has been very good for us,” says Chuck Provini, Natcore’s president and CEO. “We’ve found some extremely talented and creative employees here. Eastman Business Park has everything a research company could need. And the business and investment communities have been consistently helpful to us.”

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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.

Low-Cost Structure May Eliminate Silver;
Shows Clear Path Toward Ultra-High Efficiency

 Rochester, NY — (July 9, 2015) — Scientists working in the Rochester R&D Center of Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) have developed a new solar cell structure that will simplify the production process, significantly lower costs, and speed the path toward ultra high-efficiency cells.

Importantly, the new cell structure has the potential to completely eliminate high-cost silver from mass-manufactured silicon solar cells – an achievement that has been a long-time goal of solar science.

Natcore’s new cell is an advancement of the silicon heterojunction (SHJ) cell structure that other researchers have used to achieve world-record silicon solar cell efficiencies.

Natcore’s adaptation offers key advantages over previous SHJ cells:

• The new cell structure – which can be achieved only through Natcore’s proprietary laser processing technology – may allow for the complete elimination of silver from the finished silicon solar cell.
• With silver contributing approximately 30% to the cost of a silicon solar cell, this achievement alone would slash production costs.
• Natcore’s laser processing techniques allow for further simplification of the production process, projecting to a cost-per-watt far lower than any solar cells available today.
• Natcore’s early first-generation research cells using this new structure are already producing efficiencies near today’s common commercial cells. With better materials and further refinements that are in progress, the new cells show a clear technical path to efficiencies substantially greater than current commercial cells.
• The new cell structure opens the door to further cost savings and production simplification through a novel packaging approach that Natcore is also pursuing as part of its development program.

Natcore’s advisors have recommended minimum efficiency and other technical benchmarks before the company approaches industry for licensing of its technology. The first generation cells using this revolutionary new structure have surpassed all of these benchmarks, and Natcore will now begin soliciting license agreements.

Parallel to its commercialization efforts, Natcore will continue to refine and improve its SHJ cells at its lab facilities in the Eastman Business Park, and will also leverage its relationships with leading independent laboratories to improve its technology.

In addition, Natcore’s scientists are currently working toward a second generation of its new structure that will employ no silver at all and thereby validate this very important advantage.

Natcore’s new cell is an all-back-contact heterojunction structure using thin amorphous silicon layers in combination with a standard crystalline silicon solar wafer. The cell could utilize a novel packaging approach in which a flex circuit is directly bonded to multiple, small contact pads by high-speed laser fusion.

This integrated approach has two major advantages. First, it eliminates front surface contacts, which are costly and block some incoming light. Secondly, the cell-to-module packaging can be accomplished with low-cost, alignment-tolerant bonding.

“While we’re completing our patent submission, we’re hesitant to give more details about the new structure,” said Dr. David Levy, Natcore’s Director of Research and Technology. “All of our tests to date demonstrate that we’re on the optimum path toward very high efficiencies with manufacturing solutions that are low cost and do not require complex process equipment.”

“Practical photovoltaic solar cells have been around for 60 years,” says Dr. Charlie Gay, former Director of the National Renewable Energy Lab (NREL) and a member of Natcore’s Science Advisory Board. “But Natcore scientists have taken a lot of known pieces and assembled them in new and different ways. They’ve taken basic concepts and made them manufacturable by using low-cost materials and simplifying production methods.”

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 59 patents (24 granted and 35 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. 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.

Rochester, NY —June 30, 2015 —Dr. Charlie Gay, the former Director of the National Renewable Energy Lab (NREL) and president/CEO of Siemens Solar Industries, a leading photovoltaic manufacturer, has joined the science advisory board of Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK).

Charlie has 41 years of professional management, manufacturing and advanced technology experience in renewable energy and photovoltaics. As creator of the Greenstar Foundation, he has also worked to apply energy, water and information technology to improve people’s lives in developing regions around the world.

Dr. Gay has been president and chief operating officer of ASE Americas; chairman of the technical advisory board at SunPower Corporation; president of Applied Solar and chairman of the Applied Solar Council at Applied Materials, Inc.; and president of ARCO Solar.

Charlie Gay received a B.S. in Chemistry from the University of California, Riverside, and a PhD in Physical Chemistry from the same institution. He holds numerous patents for solar cell and module construction and is a winner of the Gold Medal for Achievement from the World Renewable Energy Congress. He was elected to the U.S. National Academy of Engineering for his seminal leadership contributions to the development of the global solar PV industry. He serves as a mentor in the National Science Foundation i-Corps Program. He has received the Tech Award for Sustainable Rural Development; and the Stockholm Challenge Award.

Dr. Gay is the fourth prominent solar scientist to be recruited for Natcore’s science advisory board. He joins Dr. Daniele Margadonna, Chief Technology Officer of MX Group SpA; Dr. David Carlson, formerly the chief scientist of BP Solar; and Dr. Gavin Conibeer, professor at the School of Photovoltaics and Renewable Energy Engineering at the University of New South Wales.

“Every week our science advisory board members participate in a conference call with our co-founders Dr. Andy Barron and Dr. Dennis Flood and our Director of Research, Dr. David Levy,” says Chuck Provini, Natcore’s president and CEO. “Hearing them exchange ideas and suggestions is a highlight of my schedule.”

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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.