BioSolar, Inc. (BSRC) is developing innovative bioplastic solar cell components made from renewable plant sources. The Company's technology can help reduce the manufacturing cost per watt of solar cells; management anticipates substantial cost savings through the use of its bio-based plastics in solar cell production. High volume manufacturing of solar cells using bio-based plastic components rather than petroleum-based plastic components could produce both cost and environmental benefits. The Company is targeting the market for solar cell back sheets, substrates and superstrates and intends to exploit the cost and application diversity advantages associated with its renewable bioplastic components.
A business model capitalizing on the technology's cost and environmental benefits BSRC is developing a comprehensive line of renewable bioplastic films and resins that meet the stringent thermal and durability requirements of current solar cell manufacturing processes. The Company is aiming to capitalize on its innovative technology, which offers both cost and environmental advantages, and addresses the industry's fast growing demand for solar cells.
Technology leadership allows reduction in solar cell costs The Company has developed a technology for producing bioplastic materials from renewable plant sources that is as durable as conventional petroleum-based plastics. Currently, petroleum-based plastics are used in the production of virtually all solar cells and modules. However, rising oil prices are pushing plastics' costs higher and impeding the industry's effort to make solar energy competitive with conventional fossil fuel.
BSRC's technology can help reduce the cost per watt of solar cells through the use of its bio-based plastics. Management anticipates substantial material cost reductions by using the bioplastic materials in solar cells backsheet, superstrate and substrate applications. Entering the market in 2007/08 with a strong product portfolio BSRC is developing a comprehensive line of bioplastic films and resins for solar cell manufacturers.
- BioSolar Backsheets are designed specifically for traditional crystalline silicon (c-Si) solar cell manufacturers and are expected to cost up to 50% less than traditional backsheet materials. The Company anticipates introducing this product in late 2007. - BioSolar Thin Film Substrate is intended to replace the currently available stainless steel or petroleum-based plastics that are generally very expensive. BSRC anticipates making this product commercially available during 2008. - BioSolar Superstrate is a transparent bioplastic material that can be used as solar cells superstrate to replace the currently utilized polymers and further reduce the cost of solar cells. BSRC anticipates introducing this product in 2008. - BioSolar Plastic is a line of bioplastic resins for injection molding applications in creating various housing and packaging components for solar panels and arrays. BSRC anticipates offering this product line in 2008.
Transitioning from development to commercialization phase To date, the Company has not reported revenues since its products are still in the development stage. However, the development of the BioSolar Backsheets has already been completed and the Company is preparing for the commercial launch of this product line. BSRC plans to invest in an advertising campaign to lay the groundwork for future sales and is establishing relationships with important players in the solar cells market to mutually promote their technologies.
By year ending 2007, BSRC plans to make the first shipments of BioSolar Backsheets available to its strategic partners. The commercialization of its other biomaterials solutions will follow in 2008. Environmental benefits draw government support BSRC's business model focuses on proactively providing renewable bio-solutions that remove petroleum from solar cells and make solar power a truly "green" energy source. Government agencies worldwide are stepping up efforts to restrict products that pollute the environment and damage eco-systems and actively encouraging the further development of renewable clean energy technologies. Government support in more than 40 markets worldwide is helping solar cell demand grow rapidly, creating an immediate business opportunity for innovative material companies such as BSRC. Solar cell market opportunity World solar photovoltaic (PV) market installations reached a record high of 1,744 megawatts (MW) in 2006, representing 19% growth over the previous year. An EPIA/Greenpeace report forecasts 35% annual market growth through 2009 and 26% annual growth between 2010 and 2015. Worldwide sales of photovoltaics were approximately $16 billion in 2006, are projected to reach $36 billion in 2010 and may exceed $50 billion by 2020.
Rising oil prices, environmental concerns related to global warming, and the rapid industrialization of China, India, Eastern Europe and the CIS countries, have helped drive the global solar industry into hyper-growth mode. In a very short period of time, solar power has become a viable source of energy in many countries and a competitive source of electrical power generation. With the cost benefits made possible by its innovative bioplastics materials, BSRC is uniquely positioned to provide the solar industry, including next generation thin-film manufacturers, with competitive advantages that can spur additional growth.
Experienced management team BSRC's management team combines more than 100 years of engineering and technical experience in the areas of plastics and film development, as well as in marketing, sales and corporate management. The Company's management and advisory team have held senior management and technical positions with numerous technology companies, including Applied Reasoning, Inc., RF-Link Technology, Inc., TRW Transportation Electronics, DuPont, Texas Instruments and GRT Inc. BSRC's Chief Technology Officer, Stanley B. Levy, PhD, holds 12 patents, has received several awards for technical excellence and has been published in numerous technical journals. Prior to joining BSRC, Dr. Levy was a consultant for several photovoltaic manufacturing companies, including Global Solar, MiaSole, and Solar Integrated Technologies. In addition, he is a member of the National Renewable Energy Laboratory's Thin Film PV Module Reliability Team.