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Solar3D Optimizing 3-Dimensional Solar Cell Design for Low-cost Mass Production

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^{Published in Science and Technology on Monday, July 11th 2011 at 13:11 GMT by Market Wire}  

SANTA BARBARA, Calif.--([ BUSINESS WIRE ])--Solar3D, Inc. (OTCBB:SLTD), the developer of a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity, announced today that it is consulting with outside manufacturing experts to optimize the prototype design for low-cost mass production.

"We are still ahead of schedule and making progress faster than anticipated"

Jim Nelson, CEO of Solar3D, said, aCreating a solar cell that is significantly more efficient than current technology is only half of our mission. It is essential that we make it as inexpensively as possible. The use of experts from the outside has helped us make slight modifications to the design that will save significant operating and capital expense.a

Inspired by light management techniques used in fiber optic devices, the companya™s innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons. Solar3Da™s management believes that this breakthrough solar cell design will dramatically change the economics of solar energy.

aWe are still ahead of schedule and making progress faster than anticipated,a continued Nelson. aBy optimizing the prototype design in the early stages, we save time and money as we move into the production phase of our plan next year. As a result, we believe we will be able to contribute significantly to the industrya™s pursuit of the SunShot initiative outlined by Energy Secretary, Stephen Chu, to bring the cost of solar electricity to grid parity.a

About Solar3D, Inc.

Solar3D, Inc. is developing a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. Up to 30% of incident sunlight is currently reflected off the surface of conventional solar cells, and more is lost inside the solar cell materials. Inspired by light management techniques used in fiber optic devices, our innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons. This next generation solar cell will be dramatically more efficient, resulting in a lower cost per watt that will make solar power affordable for the world. To learn more about Solar3D, please visit our website at [ http://www.Solar3D.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.