SANTA CLARITA, Calif.--(BUSINESS WIRE)--BioSolar, Inc. (OTCBB:BSRC), developer of breakthrough products and materials that reduce the cost of photovoltaic (PV) solar modules, today announced key cost saving measures that will allow the company to benefit from a more competitive marketplace for solar subcomponents.
Rapid price decline has prompted solar manufacturers to reassess all subcomponents and determine where changes can be made to drive down the cost of the bill of materials while still maintaining adequate robustness and reliability. “In adversity lies opportunity,” said BioSolar’s CEO, David Lee, “Manufacturers are accelerating efforts to drive cost reductions throughout all their solar product lines. Our BioBacksheet, with single layer composition, meets that need by delivering the reliability and robustness of the best available backsheets while maintaining cost competitiveness with the more economical backsheets on the market. Adopting BioBacksheet allows PV panel manufacturers to achieve cost savings without sacrificing panel quality or longevity.”
“We expect to benefit in this competitive environment since BioBacksheet provides superior performance compared to similarly priced backsheets currently available in the marketplace,” Dr. Lee continued. “Therefore, we are focusing on two specific features of BioBacksheet that will improve the competitiveness of our customers’ panels. First, a lower cost BioBacksheet will allow our customers to sell lower cost PV panels, resulting in a reduced cost per watt of solar power production. This is the equation that defines current PV panel economics and competitiveness. Second, reducing the panel’s average internal operating temperature improves PV panel power output. Our BioBacksheet can reduce a panel’s average internal operating temperature due to its high thermal conductivity. This increases the panel output wattage at no additional cost, and thus improves the key cost per watt metric.”
To further reduce the costs of BioBacksheet, BioSolar previously announced that it had entered into a contract manufacturing agreement with Stevens Urethane, a premiere contract manufacturer with proven track record in quality and cost competitiveness. BioSolar also successfully negotiated reduced material and logistics costs by forming mutually beneficial long-term business relationships with its suppliers. The company now has strong backing from key suppliers and contractors.
BioSolar is now developing EcoBacksheet, its second backsheet product that will further reduce the cost of solar energy.
About BioSolar, Inc.
BioSolar, Inc. develops breakthrough products and materials that reduce the cost of photovoltaic (PV) solar modules. Most of the solar industry is focused on photovoltaic efficiency to reduce cost. BioSolar is the first company to introduce a new dimension of cost reduction by replacing petroleum-based plastic solar module components with durable bio-based materials. BioBacksheet, the company’s first backsheet product, is currently available to solar manufacturers. BioSolar is now developing EcoBacksheet, its second backsheet product that will further reduce the cost of solar energy. To learn more about BioSolar, please visit our website at http://www.biosolar.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.