Success of Recent Clean Tech IPOs Proves Strong Institutional Investor Demand for Renewable Energy Stocks
BioSolar, Inc. (OTCBB:BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic (PV) solar modules, today announced its intention to uplist its shares to trade on a senior U.S. stock exchange.
Trading on a senior U.S. stock exchange is an essential step required to attract institutional investors. In light of recent clean tech IPO successes, the company's management believes that BioSolar will be well received by institutional investors, such as mutual funds, insurance companies and pension funds.
Dr. David Lee, BioSolar's CEO, commented, "Graduating to a senior stock exchange is the next logical step in our company's growth and will allow us to gain exposure and be recognized by a broader segment of the investment community. We have observed that a number of companies that up-listed to senior stock exchanges, such as the NASDAQ or American Stock Exchange, experienced impressive increases in liquidity and access to capital."
Lee added, "We believe this corporate strategy will help our company maximize its growth opportunities. We have completed the development of the world's first bio-based PV backsheet, and we are now preparing to take this breakthrough product to market. Institutional sponsorship will allow us to access additional equity capital to help fuel our growth.
The company previously reported that it is working closely with PV panel manufacturers to prepare for their upcoming panel recertification with BioBacksheet upon the release of provisional RTI by Underwriter's Laboratories. After panel level certification, PV panels containing BioBacksheet will be available for sale in the general marketplace.
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.
Contacts:
Press Contact:
Beckerman
Eric
Fischgrund, 201-465-8008
efischgrund@beckermanpr.com
or
Investor
Relations Contact:
BioSolar, Inc.
Tom Becker,
877-904-3733
ir@biosolar.com
