China Nuvo Solar Energy Inc. has signed a binding term sheet with Pioneer Materials Inc. (PMI) of Torrance, Calif., to establish a pilot development and manufacturing operation in PMI's facility in Chengdu, Sichuan, China. The agreement with PMI has the objective of establishing initial production of solar cells using China Nuvo's licensed technology based on an invention titled ‘photovoltaic cell with integral light transmitting waveguide in a ceramic sleeve.’
The companies are currently negotiating the terms of a definitive agreement that is expected to be completed within the next 30 days.
China Nuvo Solar Energy, which has its U.S. headquarters in West Palm Beach, Fla., is a development-stage company that has acquired a license for exclusive worldwide rights to a solar cell technology.
