Shrink Nanotechnologies, Inc. ("Shrink") (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, today announced the formation of its Renewable Energy Team, which is comprised of two distinguished academic and industry collaborators, Drs. Sayantani Ghosh and Roland Winston.
The team is in charge of developing and laying out a business plan to commercialize Shrink’s OptiSol™ Solar Concentrator. The company believes that solar concentrator technology is game-changing and will be disruptive in terms of cost, increased efficiency, upgradeability and environmental friendliness.
"Shrink’s solar concentrator technology, which does not require mirrors, lenses or tracking systems, is currently going through a design integration process to in effect, functionalize by `solarizing' common surfaces that every American is familiar with. These surfaces and products include windows, siding, roof tiles and other consumer products. We are currently in discussions with leading solar industry companies, as well as other industry and thought leaders in the solar space in order to make our vision a reality. With the additions of Dr. Ghosh and Dr. Winston and the formation of the Renewable Energy Team, we are moving one step closer to achieving our goals and strengthening our foothold in this extremely important, and very sizeable, market," said Mark L. Baum, CEO of Shrink Nanotechnologies. "The extensive knowledge and experience of these two highly-regarded industry veterans makes all of us at Shrink excited about the possibilities that lie ahead as we begin executing our plan to commercialize OptiSol."
The OptiSol Concentrator is a new generation disruptive nanotechnology-based plastic solar concentrator and solar film that is a first-of-its-kind in the solar photovoltaic (PV) industry. Traditional silicon solar cells absorb only a small fraction of the total incident solar radiation potential, with a majority of the light either reflected or converted to thermal energy (heat). The OptiSol enhances the capabilities and efficiency of existing solar cell designs by focusing and tuning the incident solar radiation from the sun for optimal silicon absorption, with less of the total spectrum lost as heat or reflection.
OptiSol is an extremely low-cost solution, as efficient as leading technologies, and is upgradeable, allowing customers to either replace or add to their existing installations. The technology can easily be incorporated into various residential and commercial construction materials, such as roofing, siding, and windows. OptiSol does not rely on toxic or hazardous materials and can be made from biodegradable corn-based plastics, thereby offering the first "renewable" renewable energy source.
The appointments of Dr. Ghosh and Dr. Winston are the latest in Shrink’s ever expanding FIGA™ business, where the company brings together some of the world’s leading scientific minds, which includes a network of top experts in the fields of finance, industry, government, and academia.