OMVS Signs Co-Development Agreement for Printable Solar Technology

TAMPA, Fla.--(BUSINESS WIRE)--On the Move Systems (OTCQB:OMVS) announced today that the company signed an agreement with Texas Southern University (TSU) to co-develop a next-generation printable solar panel. OMVS aims to capitalize on the rapid growth of the solar energy sector by developing the technology to affordably print solar panels using inkjet technology and new materials.

“We are making this dynamic move into cutting-edge solar technology development because we believe that solar power is about to go from being a peripheral player to the central driver of growth in America’s energy security,” said OMVS CEO Patrick Brown. “Solar adoption rates have been slowed by high costs. New solar innovations hold the potential to reduce technology costs dramatically, and this agreement with TSU will put OMVS on the ground floor of the renewable energy revolution.”

OMVS is exploring solar technology development in the wake of record industry growth in the U.S. The domestic solar industry experienced a 67-percent rise in market share from $3.6 billion in 2009 to more than $6 billion in 2010, according to a recent report by the Solar Energy Industries Association (SEIA) and GTM Research. 82 percent of the domestic value created by solar in the U.S. came from the photovoltaic (PV) sector.

“Demand for better, more efficient solar technologies is at an all-time high and growing,” Brown said. “We believe revolutionary new application techniques for solar power-generating materials, such as printing, spraying and silk screening, are the key to making clean, efficient energy affordable to all. By developing innovative solar materials in collaboration with TSU, OMVS will position itself to capitalize on the enormous worldwide interest in practical green-energy solutions.”

Engineers at MIT, Oregon State University and elsewhere are already experimenting with revolutionary “inks” containing elements capable of being sprayed on a variety of surfaces in precise patterns to create solar cells. The technology holds the potential to eliminate the need for expensive silicon panels, resulting in rapidly produced, high-performing, low-cost solar electronics.

According to the agreement, TSU will take responsibility for the design, testing, assembly and revision of innovative solar materials, printer heads, base materials and commercial applications, while OMVS will provide the necessary funding. The university named Dr. Bobby L. Wilson, L. Lloyd Woods Distinguished Professor of Chemistry and Shell Oil Endowed Chair of Environmental Toxicology, as the project’s principle investigator.

To learn more about On the Move Systems’ innovative solar energy initiatives, please visit http://www.omvssolar.com/investors.html.