OTC BB listing improves market visibility and allows access to a greater number of potential institutional investors.
Vancouver, BC – August 16, 2007 – Octillion Corp. (Symbol: OCTL) today announced that the Company’s shares are now quoted on the Over-the-Counter Bulletin Board (OTCBB) market under the ticker symbol, “OCTL”.
“Our listing on to the OTCBB improves our market visibility, opens the doors to a greater number of potential institutional investors, and is a timely development when considering the major research milestones we’ve recently surpassed in the labs, and the approaching spin-off of our biotechnology subsidiary, MicroChannel Technologies Corporation,” commented Mr. Harmel S. Rayat, President and CEO of Octillion Corp.
Earlier this month, the Company announced plans to spin out its wholly-owned biotechnology subsidiary, with Octillion shareholders-of-record as of August 22, 2007, to receive shares on a one-for-one basis. In addition to maintaining their current equity position in Octillion, shareholders will receive another equivalent percentage equity interest in MicroChannel Technologies. The distribution of MicroChannel shares to Octillion shareholders will be completed as soon as practicable following the date on which the SEC declares MicroChannel’s registration statement effective.
“This spin out empowers each company to grow its business interests without consuming the financial and management resources of the other,” explained Mr. Rayat. “For MicroChannel, this allows for continued pursuit of its nerve regeneration and biotechnology research and development. Meanwhile, Octillion Corp. will exclusively focus on solar energy technologies, and aggressively continue with research and development of the world’s first-of-its-kind transparent glass window capable of generating electricity.”
Last month, Octillion Corp. doubled its funding for research and development of the Company’s ‘NanoPower Windows’ following a series of significant research breakthroughs, including successful completion of a see-through developmental prototype which achieves optically active down-conversion and displays good electrical properties with no electrical shorts, a major research milestone.
Scientists engineered and assembled an early model of the world’s first transparent photovoltaic window of its kind, successfully ‘stacking’ silicon nanoparticles between ultra-thin films of metal, onto a glass surface. Preliminary tests have shown that this stack is mechanically stable and of even thickness. Tests for optical characterization have demonstrated that the model is a high-quality see-through architecture, important to maintaining maximum transparency of the finished commercial product.
Key to the development of Octillion’s transparent NanoPower Windows is a proprietary spray coating of a silicon nanoparticle film, which is fluorescent and able to convert the sun’s energy into electricity. The process of producing these silicon nanoparticles is supported by 10 issued US patents, 7 pending US patents, 2 issued foreign counterpart patents and 19 pending foreign counterpart patents.
SolarWindow Technologies, Inc. is a developer of next generation, transparent electricity-generating SolarWindow™ coatings.
SolarWindow™ coatings generate electricity on see-through glass and flexible plastics with colored tints popular to skyscraper glass. Unlike conventional systems, SolarWindow™ can be applied to all four sides of tall towers, generating electricity using natural and artificial light conditions and even shaded areas. SolarWindow™ uses organic materials, which are dissolved into liquid, ideal for low-cost high-output manufacturing; and is the subject of a patent pending technology.
The company’s Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations that are consistent with renewable energy practitioner standards for assessing, evaluating and estimating renewable energy for a PV project. The Power & Financial Model estimator takes into consideration building geographic location, solar radiation for flat-plate collectors (SolarWindow™ irradiance is derated to account for 360 degree building orientation and vertical installation), climate zone energy use and generalized skyscraper building characteristics when estimating PV power and energy production, and carbon dioxide equivalents. Actual power, energy production and carbon dioxide equivalents modeled may vary based upon building-to-building situational characteristics and varying installation methodologies.
For additional information, please call Ms. Briana L. Erickson toll free at 1-800-213-0689 or visit: www.solarwindow.com.
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No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although SolarWindow Technologies, Inc. (the “company” or “SolarWindow Technologies”) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the company's products, technical problems with the company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that further research and development will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that SolarWindow Technologies, Inc. will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov. The company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.