Vancouver, BC – September 10, 2007 – Octillion Corp. (Symbol: OCTL) today announced the appointment of Mr. Nicholas S. Cucinelli as the Company’s new President and CEO. Mr. Cucinelli’s appointment follows Octillion’s previously announced plans to proactively bolster the Company’s management team with seasoned experts in the development and commercialization of leading-edge solar photovoltaic and renewable energy technologies.
“I’m honored to welcome Mr. Nicholas Cucinelli as President and CEO of Octillion,” states outgoing President and CEO, Mr. Harmel S. Rayat, who remains as Director and majority shareholder of Octillion Corp.
Mr. Rayat continues, “Along with two Master’s degrees, a solid history in the development and commercialization of photovoltaic and alternative energy technologies, Mr. Cucinelli also possesses a high level of discipline and dedication, honed through many years of meritorious service in the US Coast Guard, where he responded to the September 11th terrorist attack on the Pentagon and was designated a ‘Coast Guard Hero’ by the Secretary of Defense and Secretary of Transportation for his exceptional leadership during two major environmental incidents.”
Mr. Nicholas S. Cucinelli: Solar-Photovoltaics Commercialization Expert
Prior to joining Octillion, Mr. Nicholas S. Cucinelli was employed by Energy Conversion Devices (ENER), a billion dollar leader in the synthesis of new materials, and the development of advanced production technology and innovative alternative energy products and solutions in the solar electric power generation segment.
During his tenure at ENER, Mr. Cucinelli facilitated the commercialization of solar photovoltaic, advanced battery, fuel cell, solid-state hydrogen storage, and next generation information technologies. His wide-ranging responsibilities included working with research teams and scientists alongside senior managers to objectively quantify risk, prioritize research and development efforts, and develop the business case for new amorphous silicon solar cell manufacturing processes and conversion efficiency enhancements for wholly-owned ENER subsidiary, United Solar Ovonic LLC.
Mr. Cucinelli also served as Manager of Federal and Military Sales for United Solar Ovonic, where he developed and executed plans to deploy UNI-SOLAR Building Integrated Photovoltaics (BIPV) in Federal market segments, and championed a market-centric approach to portable and mobile photovoltaic product development to meet key military needs.
Among his many academic and professional accomplishments, Mr. Cucinelli served as a Strategy Consultant to the non-profit Carbon Disclosure Project (CDP), an organization that brings together over 300 institutional investors representing more than $40 trillion in assets with partners in 16 of the world’s major economies to focus attention on carbon emissions, energy usage and reduction. At CDP, Mr. Cucinelli analyzed American climate change policy and financial trends in order to create a business plan and U.S. entry strategy for an international investor secretariat, then representing $10 trillion in assets under management.
Mr. Cucinelli also acted as Advanced Biofuels Consultant to the Future Fuels Team at BP plc, one of the word’s largest private sector energy corporations and one of the six “supermajors,” and launched DuraPower LLC, working to integrate a portable military solid-oxide fuel cell technology into a mainstream consumer product.
Mr. Nicholas S. Cucinelli has a Bachelor of Science degree (with high honors) and holds two advanced degrees through the University of Michigan’s Erb Institute for Global Sustainable Enterprise: a Master’s degree in Business Administration (MBA) from the Ross School of Business, and a Master of Science degree in Natural Resources and Environment. The Erb Institute is the leading U.S. MBA/M.S. program focused on grooming leaders to achieve environmental, social, and economic sustainable development and enterprise.
Prior to entering the renewable energy field, Mr. Cucinelli meritoriously served 16 years in the United States Coast Guard and Coast Guard Reserve, eventually reaching the rank of Lieutenant Commander (O-4). During his tenure with the U.S. Coast Guard, Mr. Cucinelli responded to the September 11th terrorist attack on the Pentagon, conducted extensive environmental law enforcement missions, led disaster contingency planning efforts, and served as Operations Officer on a U.S. Coast Guard cutter. He was designated a “Coast Guard Hero” in 2000 by the Secretary of Defense and Secretary of Transportation for his exceptional leadership during two major environmental incidents on the Chesapeake Bay.
About SolarWindow Technologies, Inc.
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.
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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.