Apr 30 2010
Shrink Nanotechnologies, Inc. (“Shrink”) (OTCBB:INKND) (OTCBB:INKN), an innovative nanotechnology company developing products and licensing opportunities in the solar energy production, medical diagnostics and sensors and biotechnology research and development tools businesses, announced today the formation of a new wholly owned subsidiary called Shrink Solar LLC, which is focused on commercializing its solar technologies.
Using the Company’s breakthrough nano-structured solar film designs, Shrink’s unique solar concentrator designs, which will now be held in Shrink’s new wholly owned “Shrink Solar LLC” operating unit, will soon enable solar consumers to add “energy-producing abilities” to products already in production, from rooftop applications to windows and beyond. Imagine a window that produces power. Imagine a traditional silicon rooftop solar array that was made efficient enough, so much so, that it made real economic sense to invest in a solar system in the first place.
“Shrink Solar’s goal is to transform the $37 billion solar energy production market worldwide by designing and selling our solar concentrators as a low-cost performance enhancing add-on device, to create more wattage per square meter, for existing mono- and poly-crystalline solar cell arrays,” said Mark L. Baum, CEO of Shrink Nanotechnologies, Inc. “Whereas silicon is only able to absorb a very narrow band of the available light produced from the sun, Shrink’s ‘tuned’ nano-crystal solar concentrator technology – which is non-optical – in other words it does not rely on mirrors, a lens or a tracking device – gathers the part of the light spectrum that silicon is unable to absorb – and then it converts that energy spectrum into a usable form (a re-emission) which become usable power.”
Baum added, “Many months ago we formed a relationship with Inabata America, primarily to leverage Inabata’s vast development and marketing resources to assist us as we went from the idea stage to prototype and then eventually to market. Now that we have made significant progress, and we expect to soon discuss this progress in more detail, we are establishing additional industry relationships to assist us in bringing these true ‘next-generation’ solar energy systems to market.”
Using Shrink Solar’s patent-pending nanocrystal-based technology, Shrink’s technologies enhance silicon’s ability to absorb sunlight and convert it to electricity. Shrink’s non-optical systems are a first-in-class solar concentrator that can boost energy production from legacy silicon PV systems by optimizing the light for absorption by silicon. A newly formed Renewable Energy Team, comprising distinguished academic and industry collaborators, will provide dedicated management support