Monday April 21, 9:05 am ET
SANTA CLARITA, CA--(MARKET WIRE)--Apr 21, 2008 -- BioSolar(TM), Inc. (OTC BB: BSRC.OB), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic solar cells, today reports that the company has been recognized as the "Technology of the Day(TM)" from jumpintotomorrow.com (TM). The award is granted to ideas and products that represent innovative ways of addressing many of society's pressing needs.
BioSolar is receiving this recognition for its "BioBacksheet(TM)" product that forms the backsheet component of a photovoltaic solar cell. BioSolar's environmentally responsible "BioBacksheet" is made from renewable plant resources. It is much more cost competitive than the petroleum-based products which are currently being used for the backsheet component of solar cells. The resulting cost savings allows photovoltaic cell manufacturers to reduce the cost of their finished product, thereby reducing the cost per watt of solar electricity.
"We believe we are bringing a product to market that will significantly alter the economics of the photovoltaic power equation by reducing the cost-per-watt of electricity, and allow more of the world's electrical energy needs to be generated by the sun," said Dr. David Lee, BioSolar's chief executive officer. "Industry analysts are beginning to stress that a distinction between solar manufacturers that are truly green and those that are not should become part of every manufacturer's analysis. BioSolar may benefit from this trend as manufacturers try to further position themselves as true green players."
According to jumpintotomorrow.com's President and Founder, Sam Spear, "BioSolar's BioBacksheet is exactly the kind of technology that's going to make a difference. Throughout our site are ideas and innovations we hope inspire others as much as it's inspired us. We congratulate the work of Dr. Lee and his team, and believe this is just the beginning of the kind of favorable attention they deserve.
"jumpintotomorrow is a site that lists and honors breakthrough technology and innovative thinking. Every day the site is updated, and every day the "Technology of the Day" is awarded. A wide variety of smart thinking and technologies are offered, from products visitors can buy, to companies in which people can invest, to causes one can join.
About BioSolar, Inc.
BioSolar, Inc. has developed a breakthrough technology to produce bio-based materials from renewable plant sources that will reduce the cost per watt of solar cells. Most of the solar industry is focused on photovoltaic efficiency to reduce cost. BioSolar is the first company to introduce a new dimension of cost reduction by replacing petroleum-based plastic solar cell components with durable bio-based materials. To learn more about BioSolar, please visit our website at http://www.biosolar.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Orlando, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
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