SunDensity Acquires QD Solar, Renames SunDensity Canada

• SunDensity Canada, formerly QD Solar, merges expertise to enhance solar panel efficiency and reduce energy costs with innovative coatings and technology.

SunDensity has acquired QD Solar, a developer of perovskite solar cells, and renamed it SunDensity Canada in order to align both companies on technologies that amplify solar panel efficiency. SunDensity develops coatings that improve solar panel efficiency and increase the reflectivity of windows and glass to lower energy costs and carbon emissions by reducing heat gain. The acquisition will combine the technological expertise of both companies, with a focus on commercialization.

SunDensity Canada, founded in 2014 based on research from The University of Toronto, was fostered in the Illuminate business incubator in Rochester. QD Solar's expertise in chemical deposition will be utilized by SunDensity to improve the effectiveness of its products. Research will continue in Toronto on the photovoltaic side, while operations in Rochester will focus on developing and commercializing coatings.

Decisions on manufacturing locations and partnerships with solar cell or glass manufacturers will be made in the next 18 to 24 months. The Company plans to pursue a funding round to support its commercialization efforts. SunDensity Canada's products are currently in the prototype stage, similar to SunDensity, which has been working with manufacturers to bring its technology into production.

What are the plans for SunDensity Canada and QD Solar's technology alignment?

• SunDensity Canada, formerly known as QD Solar, specializes in perovskite solar cells and has been acquired by SunDensity to align technologies that enhance solar panel efficiency.
  
• The acquisition will combine the expertise of both companies, with a focus on commercialization of coatings that improve solar panel efficiency and reduce energy costs and carbon emissions.
  
• SunDensity Canada was founded in 2014 based on research from The University of Toronto and has been fostered in the Illuminate business incubator in Rochester.
  
• QD Solar's expertise in chemical deposition will be utilized by SunDensity to enhance the effectiveness of its products.
  
• Research will continue in Toronto on the photovoltaic side, while operations in Rochester will focus on developing and commercializing coatings.
  
• Decisions on manufacturing locations and partnerships with solar cell or glass manufacturers will be made in the next 18 to 24 months.
  
• The Company plans to pursue a funding round to support its commercialization efforts.
• SunDensity Canada's products are currently in the prototype stage, similar to SunDensity, which has been working with manufacturers to bring its technology into production.