Natcore Technology, Kodak Sign Joint Development Agreement

Red Bank, NJ — (May 31, 2011) —Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) has signed a joint development agreement with the Eastman Kodak Company that will marry Natcore’s unique combinations of materials and materials processing technology, including its exclusive liquid phase deposition (LPD) process, with Kodak’s coating, formulation, drying and conveyance technologies.

The scope of work will encompass development of all of Natcore’s thin-film photovoltaic technology, along with Natcore’s advanced low-cost antireflection coating technology. The first emphasis will be on getting the nanostructured thin-film solar cell technology into commercial production. The goal is to develop the roll-to-roll processing needed to make the flexible thin-film cell, verify it in Kodak’s pilot line, design and build the commercial scale deposition equipment for insertion into one of Kodak’s under-utilized film lines, and start commercial production. Natcore would initiate work on other projects as circumstances dictate.

The thin-film cells could lower the cost of producing solar panels to less than $0.50/watt and reduce array installation costs by 60%.

The work will be conducted at Natcore Research and Development Center, located in Building #308 at Eastman Business Park in Rochester, NY. On April 20, Natcore signed a lease for this space, where it will consolidate most of the R&D work currently underway at Ohio State University and Rice University.

The Project Managers will be Dr. Dennis Flood for Natcore Technology and Dr. Charles S. Christ for the Eastman Kodak Company. Dr. Flood is a founder of Natcore and is the company’s Chief Technology Officer. Dr. Christ is Director, R&D, and Printing Systems Development and Quality at Kodak.

Natcore continues its search for a manufacturing partner in the production of the thin-film solar cells developed through this agreement. Eastman Kodak is being strongly considered for that program, as are Asian alternatives. Natcore has stated its preference to keep the manufacturing in the U.S. “We profoundly hope that we’ll be able to manufacture at Eastman Business Park in Rochester,” said Natcore President and CEO Chuck Provini. “As a public company, Natcore must make the best decision for its shareholders, and manufacturing in Rochester offers certain advantages to leverage existing infrastructure and expertise right here in the U.S. Nevertheless, we have to be realistic. We have to go where the funding takes us.”

# # # # #

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.


Comments are closed.