Natcore Technology Inc. has executed a letter of intent to purchase Vanguard Solar Inc., a private firm controlling intellectual property in the field of solar energy. Natcore Technology is the exclusive licensee, from Rice University, of a thin-film growth technology enabling room-temperature growth of various silicon oxides on silicon wafers in a liquid phase deposition (LPD) process.
Vanguard has been focused on the development of a flexible, thin-film photovoltaic material capable of silicon solar cell-like efficiency performance potentially at one-tenth the manufacturing cost and one-twentieth the capital investment, according to Natcore.
Vanguard employs a proprietary chemical bath process similar to Natcore's LPD technology, although Vanguard is growing II-VI compound semiconductor thin films on carbon nanotubes at room temperature and ambient pressure, while Natcore has, thus far, concentrated on growing silicon dioxide films on silicon substrates.
The closing of the transaction is subject to the completion of due diligence and mutually agreeable legal documentation.
SOURCE: Natcore Technology Inc.