Here is the recent news on Natcore. It has been some time since we heard from the Company so on the heals of this news we will be having the President and CEO, Chuck Provini on the weekend show.
On to this news Chuck had some initail comments that we will expand on in our interview. Here is what Chuck had to say and the news release.
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From Chuck Provini – Natcore’s “Best of Breed” program began as a response to manufacturers and facility promoters wanting access to our paradigm-shifting technology, even though it is not yet commercially available. What has given the Best of Breed program a life of its own are two additional things we have added to our capabilities.
First, just as Natcore has assembled scientifically the Who’s Who in the solar industry, we have also assembled a group of engineers and builders who have vast experience in promoting and developing solar power plants. Our primary Engineering, Procurement & Construction (EPC) company is an Italian firm with whom we have had a close relationship for many years. Additionally, we have established capabilities in Eastern Europe and the Middle East to ensure that geography would not be a stumbling point.
The second important component is our ability to identify additional funding sources for project financing. This allows us to bring an important component to the project as a consultant and not be at the mercy of (or delayed by) the promoters as they attempt to secure their financing.
Our Best of Breed program has three essential components: Research & Development, which is our core benefit; experienced EPC partners that have the ability to handle large projects; and an introduction to potential project financing for these projects.
The Vietnamese project is an exciting step that resulted from expanding our Best of Breed capabilities. I suspect we will see other such projects in the near future.
The success of our Best of Breed program does not in any way alter our primary focus, which continues to be developing the technology that we believe will truly change the solar industry. At the same time, the program gives us an additional source of revenue that can help fund our research and development.
As always, your thoughts and comments are welcome.
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Natcore Technology Tapped as Project Manager For 200 MW Solar Park in Vietnam
Program is Fruit of Natcore’s “Best of Breed” Program
Rochester, NY — (August 16, 2016) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has signed a Memorandum of Understanding with a European developer of international renewable energy projects and a Vietnamese consortium under which the organizations would form a separate company to develop a 200 MW solar energy project in Vietnam.
The projected cost of the project is approximately US $300 million, which includes all the costs of engineering/procurement/construction (EPC), land acquisitions, development fees and other expenses.
The 200 MW project would be completed in several phases, the first of which will be about 10 MW. Each phase will be located at a site mutually agreed upon in selected provinces of Vietnam. By completing the project in tranches, the parties will be able to generate revenue before the entire project is completed. The project would include a laboratory facility and, potentially, a solar panel manufacturing facility.
Under the terms of the agreement, Natcore would:
- Design, develop, implement and bring the solar plants to the turnkey phase;
- Serve as supplier of the project;
- Select suppliers, PV plants and engineering, procurement, construction(EPC) company;
- Serve as project manager.
Natcore will be compensated on a “cost-plus” basis and with licensing fees for its technology as it is provided.
This project arose from a consulting service established by Natcore to provide unbiased business and technical advice to potential new solar cell and solar panel manufacturers and to established solar manufacturers wishing to upgrade their facilities.
As part of their service, Natcore will recommend a “Best of Breed” selection of manufacturing equipment to its clients, and will offer limited exclusivity to incorporate new technology developed by Natcore into the client facilities when such technology becomes available for commercial production.
Since Natcore is not itself a manufacturer, it is able to buy components or employ vendors without bias. Thus, Natcore will have the freedom to provide optimum products with appropriate warranties and efficiencies.
This is the second project to be assigned to Natcore as a result of its Best-of-Breed program. On March 22, the company announced that it would oversee development of a 10 MW PV array in Belize.
“Our ‘Best of Breed’ initiative is a direct result of our being approached repeatedly by groups requesting our solar cells for their power projects, even though our technology has not yet reached the market,” says Natcore President and CEO Chuck Provini. “It has taken on a life of its own. So we anticipate that it will continue to grow and fund development of our paradigm-shifting laser-processed solar cell technology.”
“Since we announced the Belize project, we’ve also been approached by companies who want us to use their components, such as solar cells, solar panels, inverters, frames, tracking systems, etc.” added Provini. “We think this Vietnam announcement will generate more calls of that nature. We’ll gladly take those calls, since we promise our clients that we’ll scour the marketplace to find the optimum elements for their solar facilities.”
About Natcore Technology
Natcore Technology is focused on using its proprietary nanotechnology discoveries to enable a variety of compelling applications in the solar industry. Specifically, the company is advancing applications in laser processing, black silicon and quantum-dot solar cells to significantly lower the costs and improve the power output of solar cells. With 65 patents (30 granted and 35 pending), Natcore is on the leading edge of solar research. www.NatcoreSolar.com
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