SANTA CLARITA, Calif.--(BUSINESS WIRE)--BioSolar, Inc. (OTCBB: BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic (PV) solar modules, today announced that it is in the final stage of selecting a U.S. manufacturer for the full-scale production of the company’s BioBacksheet for North American customers. The company has received quotes from qualified manufacturers and expects to name its supplier for initial orders soon.
Dr. Stanley Levy, BioSolar’s chief technology officer, who is spearheading the selection process, commented, “We have carefully chosen and reviewed a number of major manufacturers, and we will soon select the best fit for BioSolar. All of the candidates being considered have state-of-the-art equipment and the know-how to manufacture BioBacksheet to the extremely high standards demanded by our PV customers. We have entered into contract negotiations and expect to sign an agreement with a supplier for our North American customers within 30 days.”
To drive its costs even lower and seize this unique market opportunity, BioSolar recently revised its strategic plan and entered into additional strategic partnerships with manufacturers capable of producing and delivering BioBacksheet in large volume at low cost. In addition to its North American customers, who are already pursuing panel level UL certification of their solar panels with BioBacksheet, BioSolar is accelerating its selling efforts to Asian solar manufacturers.
Commenting on the company’s growth, Dr. David Lee, BioSolar’s chief executive officer, said, “We are making great progress transitioning into a go to market mode. We will be implementing internal quality control and measurement standards, developing logistics for shipping and handling product and building up our marketing and sales infrastructure. This is a challenging endeavor, but I firmly believe we are on track to achieve commercial success.”
About BioSolar, Inc.
BioSolar, Inc. has developed a breakthrough technology to produce bio-based materials from renewable plant sources that will reduce the cost per watt of solar cells. 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 cell components with durable bio-based materials. To learn more about BioSolar, please visit our website at http://www.biosolar.com.
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