Jan 16 2008
Cleanfield Alternative Energy Inc. is pleased to announce that its wholly-owned subsidiary, Cleanfield Energy Corp, has developed a strategic partnership with McMaster University's Department of Engineering Physics by way of a research collaboration agreement dated December 18, 2007 between Cleanfield, McMaster and the Ontario Centres of Excellence Inc.. The project is being partially funded by OCE's Centre for Photonics. OCE is a not for profit organization partially funded by the Government of Ontario.
Pursuant to the terms of the three-year agreement, McMaster will research and develop semiconductor nanowire photovoltaics technology and OCE has agreed to provide an aggregate of $275,000 in funding over the proposed three-year term. Cleanfield will provide an aggregate of $180,000 as well as an additional $120,000 of in-kind services towards the testing. McMaster began its research and development this month - it aims to reduce the cost of solar power by using semiconductor nanowires to increase the efficiency of PV technology, making solar technology more cost competitive with fossil fuels. Cleanfield will commercialize the technology and will be able to offer customers high quality solar power at a more reasonable cost when compared to current solar products available on the market.
"Cleanfield is very pleased to enter into this RCA with OCE and McMaster University's Department of Engineering Physics, which heightens the Company's focus on developing, producing and sourcing innovative and proprietary renewable energy solutions. Nanowire solar energy is an enticing new technology that will take the company in a new and exciting direction. In 2006, Cleanfield signed an RCA with OCE and McMaster's Department of Mechanical Engineering, which has resulted in significant product enhancements; we anticipate the development of this Nanowire solar energy will have similar outstanding results. Furthermore, Cleanfield will leverage our current technology, using the Nanowire photovoltaics, the Cleanfield V3.5, and our innovative inverter, to develop a complete renewable energy system solution," said Cleanfield Energy President/CEO Tony Verrelli.
Project leader Dr. Ray LaPierre, stated "With the support provided by Cleanfield and OCE, and the research facilities at McMaster, we will be able to significantly advance the state-of-the-art in solar cells. Our work has the potential to dramatically improve power conversion efficiencies and reduce the cost of photovoltaics by taking advantage of new developments in nanowire fabrication."
"Ontario is in the enviable position of housing forward-thinking companies like Cleanfield and distinguished research centres like McMaster," said Don Wilford, the Managing Director of OCE's Centre of Excellence for Photonics. "Though partnerships like this, clean energy technologies such as solar cells are on the cusp of being harnessed as an economically viable energy solution. This partnership will propel the cost effectiveness and efficiency of solar energy from optimistic discussion to a reality that will have a profound impact on the province and further establish Ontario as a solar energy leader."