BioSolar Signs Agreement with Stevens Urethane to Manufacture BioBacksheet
- May 30, 2012
Santa Clarita, CA -- BioSolar, Inc. (OTCBB: BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic (PV) solar modules, has entered into a manufacturing agreement with Massachusetts-based Stevens Urethane, a subsidiary of JPS Industries, for the upcoming full-scale production of the company's BioBacksheet for North American customers.
Dr. Stanley Levy, BioSolar's chief technology officer, who spearheaded the selection process, commented, "After reviewing a number of major manufacturers, we concluded that Stevens Urethane was the best fit for BioSolar. Stevens Urethane, in addition to their line of EVA encapsulants for the solar industry, is a leading worldwide manufacturer of polyurethane film, sheet, tubing, cord and profile, including optical interlayer materials used in class I-VIII bullet resistant glazings, airplane and high speed train windshields, security glass, embassy windows, hurricane glass and paint protection films. They have state-of-the-art equipment and the know-how to manufacture BioBacksheet to the extremely high standards demanded by our PV customers."
Jim Coletta, President of Stevens Urethane, stated, "We are excited to partner with BioSolar to manufacture BioBacksheet. BioSolar is a technology driven firm that has established a strong reputation for bringing innovative, performance driven products to market. BioSolar's BioBacksheet will be manufactured to stringent quality standards required to meet the demands of the photovoltaic market. We take pride in BioSolar's selection of Stevens Urethane based on our history of successfully manufacturing products for "can't fail" applications. Stevens' manufacturing expertise, ISO 9001 certified quality systems and the dedication of our associates to first time right quality and services will allow us to meet or exceed the expectations of BioSolar as this business grows."
Commenting on the company's business outlook, David Lee, BioSolar's chief executive officer, said, "We are making great progress transitioning into a go to market mode. We are implementing internal quality control and measurement standards, developing logistics for shipping and handling product and building up our marketing and sales infrastructure. This has been a challenging endeavor, but with quality partner like Stevens Urethane, I firmly believe we are on track to achieve commercial success."
About BioSolar, Inc.
BioSolar, Inc. has developed a breakthrough technology to produce bio-based materials from renewable plant sources that will reduce the cost per watt of solar cells. Most of the solar industry is focused on photovoltaic efficiency to reduce cost. BioSolar is the first company to introduce a new dimension of cost reduction by replacing petroleum-based plastic solar cell components with durable bio-based materials.
About Stevens Urethane
Stevens Urethane is a manufacturer of extruded urethanes, ethylene vinyl acetates and other thermoplastic elastomers for specialty applications in a wide expanse of markets requiring highly engineered solutions. Stevens Urethane products are used in civilian and military components, ballistic glass laminates for security and transportation, photovoltaic solar modules, paint protection films, medical, automotive and industrial components, textile film laminates and other high performance end uses.
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.
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