Octillion Corp. (OCTL.PK) has completed a $500,000 private placement. The Company sold 1,000,000 units, with each unit consisting of one common share and three share purchase warrants. In total, inclusive of the proceeds to be received from the exercise of the warrants, the Company will receive $2,150,000 from this funding.
The proceeds will be used for working capital and general corporate purposes including, but not limited to, ongoing research and development work involving the integration of silicon nanoparticles onto glass surfaces.
The nanosilicon photovoltaic solar cells are created through a unique electrochemical and ultrasound process that produces identically sized (1 to 4 nanometers in diameter) highly luminescent nanoparticles of silicon that provide varying wavelengths of photoluminescence with high quantum down conversion efficiency of short wavelengths (50% to 60%). The process of producing these silicon nanoparticles is supported by 10 issued US patents, 7 pending US patents, 2 issued foreign counterpart patents and 19 pending foreign counterpart patents.
The Company’s research and development work is being conducted at the University of Illinois in Urbana-Champaign pursuant to a Sponsored Research Agreement with UIUC.
Octillion Corp is a technology incubator focused on the identification, acquisition, development and eventual commercialization of emerging technologies.
Through established relationships with universities, research institutions, teaching hospitals and government agencies, it strives to identify technologies and business opportunities on the leading edge of innovation that have the potential of serving significant and unmet market needs.
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