August 19, 2008 — Octillion Corp. , a next-generation alternative and renewable energy technology incubator, has entered into a Sponsored Research Agreement with scientists at Oakland University to further the development of its NanoPower Window technology. In addition to working to advance the company’s solar photovoltaic technology, scientists and collaborating researchers will explore additional nanotechnology applications that may be derived from their efforts.
Mr. Nicholas Cucinelli, president and CEO of Octillion Corp., announced the agreement at the 2008 Nanoscale Science and Engineering Conference at Oakland University.
“Nanotechnology research and development requires a highly collaborative and flexible approach to achieve commercially-viable outcomes, and that sentiment is very much alive here at Oakland University,” stated Mr. Cucinelli. “There is a rapidly growing ‘nanotechnology corridor’ developing here in Southeast Michigan, and we look forward to working with Oakland University to access and enhance those resources.”
The two-year agreement will focus on transparent photovoltaic device construction on glass substrates, and also includes provisions to explore related innovations such as flexible substrates, hybridized solar cell designs, and other photovoltaic innovations. In addition to furthering the company’s efforts to develop a transparent window capable of generating electricity, the agreement also allows Octillion and Oakland University to jointly benefit from nanotechnology innovations that may broadly apply in other applications and markets, creating incentives for the commercialization of peripheral discoveries and the potential for spin-off activities and sub-licensing agreements.
The research will be carried out under the direction of micro/nano-electromechanical systems (MEMS/NEMS) expert Dr. Hongwei Qu, in close consultation with other Octillion collaborators.
“Oakland University is very pleased to have been selected to collaborate with Octillion on this exciting project,” commented Dr. T.C. Yih, vice provost for research at Oakland University and a member of the Company’s Advisory Board. “Our interdisciplinary approach and relevant faculty expertise was a major attractor, as was our commitment to supplement regional facilities, such as the Michigan Nanofabrication Facility, with our laboratory equipment specific to the needs of Octillion.”
The Michigan Nanofabrication Facility is located in the nearby Solid-State Electronics Laboratory at the University of Michigan.
“This agreement with an institution known for its exceptional ability to work with commercial partners further positions Octillion as a dedicated player in the Michigan economy and may soon enable organic expansion in the nanotech and solar portion of our growing technology portfolio,” stated Mr. Cucinelli. “As we continue to develop transparent solar photovoltaics that can be readily integrated into the existing glass manufacturing infrastructure, I believe Dr. Qu’s specific expertise and the flexible nature of our contract will substantially increase the potential value of our research to Octillion’s shareholders.”