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Hague Corp. said it has signed a binding letter of intent to buy all of the assets of Solterra Renewable Technologies, a developer of thin-film quantum-dot solar PV cell technology. The agreement between Hague and Solterra requires Hague to fund the solar firm for a total of $5 million within 60 days of signing a final asset purchase agreement.

Solterra holds the worldwide exclusive license for the quantum-dot solar cell technology (developed by Michael Wong and his team at Rice University) and says it is about to enter the commercialization stage of development with the new cell technology. Proponents of the quantum-dot approach point to its ultra-low-cost, high-volume production potential through the use of continuous print-like processes and flexible substrates, potential to convert more than 90% of solar energy collected into electricity, tunability to either high voltage or high amperage, and the ability of the q-dot cells to be placed behind a protective shell for greater longevity.    

"We are extremely pleased to be working with such a company as Solterra," said Greg Chapman, president of Hague, a U.S.-based mineral properties acquisition and exploration company. "Their vision of capturing renewable solar power is truly on the cutting edge of alternative sources of energy."

-- Tom Cheyney