Octillion to Focus on Solar Energy Technologies; Biotech Subsidiary to be Spun Out to Shareholders

MicroChannel Technologies, a wholly owned subsidiary, focused on periphery and optic nerve regeneration technologies to be spun out to Octillion shareholders of record August 22, 2007; Octillion’s focus to be on the development of solar based energy technologies.

Vancouver, BC – August 3, 2007 – As part of new initiatives to focus Octillion’s financial and managerial resources on the development of leading edge solar energy technologies, including the development of the first-of-its-kind transparent glass window capable of generating electricity, Octillion Corp. (Symbol: OCTL) today announced the spin-out of its wholly owned subsidiary, MicroChannel Technologies Corporation, to shareholders of record on August 22, 2007.

“In order to concentrate our efforts in developing leading edge solar energy technologies, we’ve decided to spin out our MicroChannel subsidiary to shareholders,” stated Mr. Harmel S. Rayat, Octillion’s President and CEO. “This will allow each of the companies to utilize management and financial resources fully on the development of their lead and other synergistic technologies, and thereby ultimately, we believe further enhance shareholder value.”

Mr. Rayat continues, “As fully functioning, stand-alone corporations owned by our shareholders, both Octillion and MicroChannel will benefit from dedicated management teams focused solely on their dedicated operations and technologies.  I will continue to serve as a director and President and CEO of Octillion, and I’m happy to announce that Dr. Kaiyo Nedd, presently a director of Octillion, will be appointed President and CEO of MicroChannel, which will continue to work towards developing technologies and products for peripheral and optic nerve damage and nerve regeneration, as well as potentially other innovative healthcare and medical technologies.”

Dr. Nedd is a regarded speaker for the pharmaceutical industry who lectures to physicians on current therapeutic issues, and conducts leading edge clinical therapeutics research in HIV, diabetes and hypertension. Along with being a practicing physician, Dr. Nedd is also a clinical teacher for foreign medical students. Dr. Nedd holds a Bachelor of Science degree (Cell Biology and Genetics) from the University of British Columbia and a Doctor of Medicine from Howard University in Washington, DC.

Concluding his comments regarding the spin-out, Mr. Rayat noted that, “The spin-out will be completed immediately upon compliance with, and satisfaction of, applicable securities and regulatory requirements.”

[jaccordion size=”xsmall” theme=”smoothness” active=”0″]
MicroChannel Technologies Corporation::

The research being performed by MicroChannel Technologies involves using a patented combination of physical, chemical and biological cues at the “cellular” level to facilitate peripheral nerve regeneration. This technology was co-invented by Dr. Surya Mallapragada, an Iowa State University scientist, named one of the world’s top 100 young innovators in 2002 by Technology Review, a technology magazine published by the Massachusetts Institute of Technology.

This methodology involves etching linear micro sized grooves onto a biodegradable substrate into which preferred cues, such as Schwann cells, stem cells and laminin, are added. The combination of micropatterned substrates and cues resulted in accelerated nerve elongation rates, and excellent nerve alignment along the substrate grooves, in in vitro studies and restored nerve functionality in animal studies. This technology has also resulted in the issuance of a US Patent entitled “Patterned Substrates and Methods for Nerve Regeneration” (US Patent # 6,676,675).

Additional research and animal studies were published in a peer-reviewed research paper entitled “Synergistic Effects of Micropatterned Biodegradable Conduits and Schwann Cells on Sciatic Nerve Regeneration” in the Journal of Neural Engineering. In this study, a 1 cm segment of rats’ sciatic nerves, which deliver nerve messages to the hind legs, were removed. After the initial surgery, the paws (toes) curled up completely and the animals were unable to walk.

The severed nerves were then surgically reconnected using micropatterned conduits pre-seeded with Schwann cells.  Over time, as motor skills were regained, the animals’ paw uncurled and the toes spread in order to support their weight. Though initially unable to walk, the rats started to regain use of their legs after three weeks and were able to function normally after six weeks.

This study demonstrated that biodegradable micropatterned conduits pre-seeded with Schwann cells that provide a combination of physical, chemical and biological guidance cues for regenerating axons at the cellular level offer a better alternative for repairing sciatic nerve transactions than conventional biodegradable conduits.

Due to the limited availability of Schwann cells, MicroChannel Technologies plans to conduct research to study the efficacy of using various types stem cell lines, which can differentiate preferentially to neurons and astrocytes (cells in the central nervous system).  Using a rat model, MicroChannel Technologies will conduct studies using conduits with micropatterned film inserts preseeded with various stem cells to promote sciatic nerve regeneration.  Contingent on the progress and success of these peripheral nerve studies using neural stem lines, MicroChannel Technologies will then expand the scope of research to include optic nerve regeneration.


[jaccordion size=”xsmall” theme=”smoothness” active=”0″]
Peripheral Nerve Damage::

Peripheral nerve damage, as a result of a penetrating trauma (by way of accidents, fractures, lacerations, etc.) or an iatrogenic injury (e.g. unintended consequence of prostatectomy surgery) often leads to debilitating pain, and to the inability to move muscles or feel normal sensations.

Peripheral neuropathy, a general term referring to disorders of peripheral nerves that reportedly affects at least 20 million people in the United States. Peripheral neuropathy can be caused by nerve compression, entrapment, laceration, exposure to toxins and even certain types of diseases. For example, individuals with diabetes can, over time, have damage to nerves throughout the body, which may lead to numbness, pain and weakness in the hands, arms, feet, and legs. An estimated 50 percent of those with diabetes have some form of neuropathy. In fact, more than half of all lower limb amputations in the United States occur in people with diabetes, about 86,000 amputations per year.


[jaccordion size=”xsmall” theme=”smoothness” active=”0″]
Optic Nerve Damage.::

Optic nerve damage is often a result of traumatic injury and or retinal disorders. Many retinal disorders, such as diabetic retinopathy and age-related macular degeneration (AMD), are accompanied by damage to the retinal ganglion cells, a hallmark of many ophthalmic diseases, disrupting the transmission of signals from the optic nerve to the brain, resulting in loss of sight. Diabetes mellitus is reportedly the leading cause of loss of vision in Americans of working age (20-60 years old) and AMD is the leading cause of loss of vision in Americans over 60 years old.


SolarWindow Technologies, Inc. creates transparent electricity-generating liquid coatings. When applied to glass or plastics, these coatings convert passive windows and other materials into electricity generators under natural, artificial, low, shaded, and even reflected light conditions.

Our liquid coating technology has been presented to members of the U.S. Congress and received recognition in numerous industry publications. Our SolarWindow™ technology may generate 50-times the power of a conventional rooftop solar system and may achieve a one-year payback when installed on all four sides of a 50-story building, according to independently-validated power and financial modeling.

Power and Financial Model Disclaimer

The company's Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations, which 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 degrees 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: 

To receive future press releases via email, please visit:

Follow us on Twitter @solartechwindow, or follow us on Facebook.

To view the full HTML text of this release, please visit:

For answers to frequently asked questions, please visit our FAQs page:

Media Contact:

Damaak Group



Social Media Disclaimer

nvestors and others should note that we announce material financial information to our investors using SEC filings and press releases. We use our website and social media to communicate with our subscribers, shareholders and the public about the company, SolarWindowTM technology development, and other corporate matters that are in the public domain. At this time, the company will not post information on social media that could be deemed to be material information unless that information was distributed to public distribution channels first. We encourage investors, the media, and others interested in the company to review the information we post on the company's website and the social media channels listed below:

• Facebook
• Twitter

* This list may be updated from time to time.

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.