Natcore Receives New R&D Assignments

Natcore Technology Receives R&D Assignments From North American, European and Chinese Solar Firms

Successful tests could result in near-term sales.

Red Bank, NJ — (June 25, 2012) — Five solar device manufacturers — two from North America, two from China and one from Europe–have asked Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) to determine if Natcore’s black silicon and liquid phase deposition (LPD) processes can help them reduce costs and improve performance of their solar energy products. The companies typically use plasma enhanced chemical vapor deposition (PECVD) to deposit films on their products.

The two North American companies have sent Natcore sample wafers, some to process with black silicon, some with Natcore’s proprietary LPD surface passivation technology and some with both processes.

Both Chinese manufacturers have also asked Natcore to apply an “absolute black” antireflective coating (i.e., Natcore’s super low reflectance black silicon with LPD silica passivation) to the sample wafers they have provided.

The European manufacturer wants Natcore to process wafers with a very thin LPD silica layer. The thin layer is an integral part of the cell structure the company now has in pilot production, and successful insertion of Natcore’s technology will enable a major reduction of cell manufacturing costs.

Natcore’s proprietary LPD process makes it possible to grow a wide range of inorganic materials–such as silicon dioxide-based films—on a range of substrates using a room-temperature, environmentally friendly chemical bath — thereby eliminating the need for harsh and expensive CVD methods currently used in industry.

The work will be completed using Natcore’s AR-Box™ at their R&D Center in Rochester, NY. AR-Box is Natcore’s intelligent processing station that uses the LPD process to grow thin film coatings on various substrates.

“These companies came to us because they were aware of our successes with LPD and black silicon,” says Chuck Provini, Natcore President and CEO. “If the results are what we anticipate for these tests, these companies would very likely be significant near-term customers for our AR-Box, an LPD license, and the requisite chemicals.”

“Furthermore,” says Provini, “we’ve been negotiating a number of potential joint ventures in various global markets. Successful commercial tests will strengthen our hand in those negotiations.”

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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.

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