Natcore’s Coating Technology Scores High In First-Ever Production Test

Beta Test System Gets Green Light

Red Bank, NJ — (January 10, 2011) —The antireflective (AR) coating technology of Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) has been independently validated by a prominent Chinese solar cell manufacturer.

Several silicon wafers with antireflection coatings prepared by Natcore’s researchers at the Ohio State University were supplied to a Chinese government-selected solar cell manufacturer for cell finishing and testing. The wafers were coated using Natcore’s exclusive liquid phase deposition (LPD) technology.

The validating company, Hunan TLNZ Solar Technology Ltd., analyzed the composition and quality of the Natcore-supplied films, added metal front and back contacts to the cells, and tested their efficiency. Cell efficiencies as high as 15% were measured for this first-ever test of Natcore’s AR coating technology using actual production solar cells. Importantly, the standard deviation of efficiencies for the entire batch of cells was within normal industry acceptance limits. The results demonstrate that Natcore’s LPD AR coating technology is completely compatible with standard silicon solar cell production methods and can easily be integrated into existing solar cell manufacturing facilities.

The validating company also identified the process steps to be included in a commercial production system that will enable cells using Natcore’s AR coating technology to routinely reach or exceed 17% efficiency in production.  This result gives the green light to Natcore China, Natcore’s China joint venture, to complete the development of a beta test system.

“This is a major step on the way from the lab to the marketplace,” says Natcore President and CEO Chuck Provini. “Just as we anticipated, our efficiencies will equal or exceed efficiencies from cells produced using conventional means. But we’re doing so at significantly lower cost—and without using high-temperature vacuum furnaces, toxic silane or huge amounts of silicon, and without the environmental damage created by the old chemical vapor deposition method. We’re replacing the CVD method with our LPD wet chemistry process. And we’re making solar power cost- competitive with conventional power.”

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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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