(16.1.2008) The patented nanostructures used by SunFlake, improve efficiency dramatically while maintaining lower production costs than achieved by present technologies. In a recent article in the internationally renowned science magazine Nature Nanotechnology, SunFlake presents the new superior principles for producing high efficiency solar cells of the future.

If founder Martin Aagesen's future solar cells meet the expectations, both the economy and the environment will benefit from his research. Less than 1 % of the world's electricity comes from the sun because it is difficult to transform solar energy to electricity. Martin Aagesen's discovery may change future exploitation of solar energy.

- We believe that nano flakes have the potential to convert up to 30 per cent of the solar energy into electricity and that is twice the amount that we convert today, says SunFlake founder Martin Aagesen who is a PhD graduate from the Nano-Science Center and the Niels Bohr Institute at University of Copenhagen. During his work on his PhD thesis, Martin Aagesen found a new and promising material. Based on these discoveries a company was founded with support from SEED Capital as a spin-out from University of Copenhagen.

- I discovered a perfect crystalline structure. That is a very rare sight. While being a perfect crystalline structure we could see that it also absorbed all light. It could become the perfect solar cell, says Martin Aagesen. The discovery of the new material has sparked a lot of attention in international science communities and has led to an article in Nature Nanotechnology- as well as creating considerable international industrial interest.

- The potential is remarkable. We can reduce the solar cell production costs because we use less of the expensive semiconducting silicon in the process due to the use of nanotechnology. At the same time, the future solar cells will exploit the solar energy better as the distance of energy transportation in the solar cell will be shorter and thus lessen the loss of energy, says Martin Aagesen

SunFlake is among the very first companies to use nanostructures as the only active element in a solar cell. The prospect of achieving record high conversion efficiencies combined with a reduction in fabrication cost give SunFlake a strategic advantage on the fast growing competitive photovoltaic market.

SunFlake is now demonstrating and documenting the technological opportunities and expect to raise additional venture capital to commercialize the business in second quarter of 2008.

Web: www.sunflake.dk

Visit: Nature Nanotechnology

Visit: SEED Capitals portfolio description of SunFlake

Visit: Nano Science Center, University of Copenhagen

For further information, please contact

Jakob Steen Jensen, Investment Manager

jsj@seedcapital.dk

Phone: 45256152

( Published 16 january 2008)