ANCASTER, ONTARIO--(Marketwire - Jan. 16, 2008) - Cleanfield Alternative Energy Inc. ("Cleanfield") (TSX VENTURE:AIR) 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 ("McMaster") by way of a research collaboration agreement ("RCA)") dated December 18, 2007 between Cleanfield, McMaster and the Ontario Centres of Excellence Inc. ("OCE"). 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."
About Cleanfield Alternative Energy Inc.
Cleanfield Alternative Energy is the parent company of Cleanfield Energy Corp and is committed to the development of renewable energy products for both consumer and commercial applications. Cleanfield's tailor-made VAWT can be mounted on a tower or suitable rooftop, offering electricity independence and security.
About McMaster University
McMaster University, a world-renowned, research-intensive university, fosters a culture of innovation, and a commitment to discovery and learning in teaching, research and scholarship. Based in Hamilton, the University, one of only four Canadian universities to be listed on the Top 100 universities in the world, has a student population of more than 23,000, and an alumni population of more than 130,000 in 128 countries. McMaster's Engineering Physics Department teaches the application of modern physics concepts towards the engineering of new technological advances.
About the Ontario Centres of Excellence
Ontario Centres of Excellence (OCE) Inc. drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and governments. The Centre for Photonics supports the creation of new photonics knowledge and technology, fosters the supply of highly qualified people at all levels, enhances applications and commercialization, and establishes regional and international collaborations. The Centre for Photonics is a knowledge, partnership and commercialization portal for the research and development of photonic technologies. Strengthening the capability of Ontario industry through its support of regional photonics clusters, it advances and promotes the province as a global hub of photonic innovation.
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risk and uncertainties that could cause actual results to differ materially from estimated or implied results.
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