Feb 9 2011
Magnolia Solar Corporation (OTCBB: MGLT) ("Magnolia Solar") announced today that its wholly owned subsidiary, Magnolia Solar, Inc., has completed the first phase of its intellectual property protection initiative.
Over the past year, Magnolia has filed a series of U.S. utility patent and international Patent Cooperation Treaty (PCT) applications. This initial series of patent applications claims the benefit of an earlier provisional application filed by Magnolia Solar in January of 2010.
Dr. Roger E. Welser, Magnolia's Chief Technical Officer, noted that "the patent applications Magnolia has filed over the past year detail a number of revolutionary photovoltaic solar cell device designs and methods of manufacturing. The technologies related to these patent filings address the fundamental performance limitations in existing thin film solar cells. The engineering employed in our patent-pending technology is designed to increase the photovoltaic operating voltage while capturing a larger part of the solar spectrum, and the unique nanostructure-based optical coatings minimize reflection losses which enhances the light trapping within the photovoltaic devices. These technologies result in higher solar electric conversion efficiency by increasing both the voltage and current output of thin film solar cells."
"These ground-breaking technologies, covered by Magnolia's patent applications, have both commercial and military applications," commented Dr. Ashok K. Sood, President and CEO of Magnolia Solar Corporation, "and constitute a strong foundation for Magnolia Solar's patent portfolio in advanced thin film solar cells. Magnolia is aiming to dramatically enhance the power-generating capability of photovoltaic systems by developing low cost, thin film technologies that deliver unprecedented levels of electrical energy per unit area. We plan to continue adding to our patent portfolio over the course of the coming year."
"Magnolia Solar hopes to also derive significant collateral benefit from a ten year licensing agreement with Magnolia Optical Technologies, Inc. which is developing new nanostructure technologies for very specific defense and commercial applications," continued Dr. Sood. "These include zinc oxide nanostructures, carbon nanotubes, and graphene-based technologies. Our goal is to build a strong patent portfolio which will protect our innovations and help us expand our business through manufacturing, licensing and royalty agreements with international solar cell manufacturers. We are committed to growing in the New York Capital Region, leveraging the excellent infrastructure at the College of Nanoscale Science and Engineering (CNSE) and Albany Nanotech Complex and our on-going collaboration with nearby universities."
Source: http://www.magnoliasolar.com/