HALFMOON, N.Y., March 23 /PRNewswire-FirstCall/ -- DayStar Technologies
(Nasdaq: DSTI) today received confirmation that the State of New York has
awarded the University at Albany College of Nanoscale Science and Engineering
(CNSE) at the Albany NanoTech research complex a $750,000 Technology Transfer
Incentive Program Grant to work with DayStar in the development of optimized
substrate templates for CIGS solar cell applications.
The award was made possible through the New York State Office of Science,
Technology and Academic Research (NYSTAR)'s Technology Transfer Incentive
Program (TTIP). Awards made through TTIP are designed to promote, encourage
and facilitate economic development in New York through university-based or
corporate-sponsored research, which assists companies within the State to
commercialize high technology products and bring them to the marketplace. In a
news announcement released this week by New York Governor George E. Pataki, he
stated, "Today's economy is driven by new technologies, and therefore it is
essential that New York remains at the forefront of high-tech innovation and
Dr. John Tuttle, Chairman and Chief Executive Officer of DayStar, noted,
"We are pleased to have won this generous grant from the State of New York and
look forward to working with some of the world's foremost scientists at Albany
Nanotech in addressing timeline acceleration issues that will assist DayStar
in manifesting a leadership position in the solar industry. We view this
grant as yet another validation of the Governor's commitment to driving
renewable energy technologies into the mainstream."
The terms of the TTIP grant provide for NYSTAR to match 1:1 financial
contributions from both DayStar and CNSE. The research will be conducted at
CNSE's Energy and Environmental Technology Applications Center (E(2)TAC),
which is dedicated to leveraging CNSE's research, resources and infrastructure
to support advances in energy and environmental applications. Over a two year
period, both DayStar and Albany NanoTech will each contribute $375,000 and
NYSTAR will contribute $750,000.
"This grant represents further recognition of DayStar's unique technology
value proposition and will assist us in optimizing our commercial scale
production of CIGS solar cells on or ahead of schedule," concluded Tuttle.
"Working with leading industry partners to demonstrate and deploy
innovative breakthroughs that have significant technological and commercial
potential is at the heart of our mission, as envisioned by state leaders
Governor George Pataki, Assembly Speaker Sheldon Silver and Majority Leader
Joseph Bruno," said Alain E. Kaloyeros, Ph.D., President of Albany NanoTech
and Vice President and Chief Administrative Officer of the UAlbany College of
Nanoscale Science and Engineering. "The TTIP grant will enable a critical
expansion in our relationship with Daystar Technologies, one of the world's
emerging leaders in the development of commercially viable solar cell
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is an emerging leader in manufacturing low
cost, high efficiency Photovoltaic Foil(TM) that converts sunlight into
energy. The Company's patented and proprietary products utilize silicon-free
CIGS solar cells, which are deposited on specialty metal foils using
production processes adapted from commodity computer component manufacturing.
DayStar believes the unique combination of its CIGS solar cell design coupled
with inexpensive manufacturing processes can lead to solar electricity at
commercially viable rates. For more information on the Company, please visit
The College of Nanoscale Science and Engineering at the University at
Albany -- SUNY is the first college in the world devoted exclusively to the
development and deployment of innovative nanoscience concepts. Located within
the Albany NanoTech complex, a 450,000 square foot complex, including the only
200mm/300mm wafer facilities in the academic world, encompasses
nanoelectronics, system-on-a-chip technologies, biochips, optoelectronics and
photonics devices, closed-loop sensors for monitoring, detection, and
protection, and ultra-high-speed communication components. With over 65,000
square fee of Class 1 capable 300 mm wafer cleanrooms, as well as on-site
faculty and student researchers, Albany NanoTech provides corporate partners
with a unique environment to pioneer, develop, and test new nanoscience and
nanoengineering innovations within a technically aggressive and financially
competitive R&D environment.
SAFE HARBOR STATEMENT: This news release contains "forward-looking
statements" that are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. "Forward-looking statements"
describe future expectations, plans, results, or strategies and are generally
preceded by words such as "future, " "plan" or "planned, " "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected." You are
cautioned that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or results to
differ materially from those projected in the forward-looking statements,
including risks that our products may not achieve customer acceptance or that
they will not perform as expected, and other risks identified in our annual
report on Form 10-K and other filings with the SEC. You should consider these
factors in evaluating the forward-looking statements included herein, and not
place undue reliance on such statements. The forward-looking statements are
made as of the date hereof and DayStar Technologies Inc. undertakes no
obligation to update such statements.
FOR MORE INFORMATION, PLEASE CONTACT:
Stephanie Noiseux, Elite Financial Communications Group
407-585-1080 or via email at firstname.lastname@example.org
SOURCE DayStar Technologies, Inc.