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Record-high petroleum prices a boon to BioSolar

08 July 2008 | PV Modules: News From Around The Web | Source: businesswire.com
Company's cost-saving bio-based materials for photovoltaic solar modules poised to decrease industry's oil dependence  

BioSolar, Inc. reports that surging oil prices have resulted in unprecedented price hikes in photovoltaic solar module manufacturing, creating substantial growth opportunities for BioSolar. The company's breakthrough technology dramatically reduces the cost of solar modules by replacing traditional and expensive petroleum-based components with bio-based materials derived from renewable plant sources. This dramatic pricing differential is expected to accelerate demand for BioSolar's products as manufacturers scramble to control skyrocketing manufacturing and components costs.  

"With the plastics industry undergoing price increases of up to 40% for petroleum-based plastics, we believe that the cost savings offered by our BioBacksheet™ product will accelerate manufacturers' adoption of our product into their photovoltaic modules," said Dr. David Lee, BioSolar's CEO. "The savings will reduce the final cost per watt of solar electricity by allowing manufacturers to lower the cost of their finished product without being impacted by the rising cost of petroleum."

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