Applied Nanotech Holdings, Inc. announced today it licensed its solar ink and paste technology to YHCC. In February 2011 Applied Nanotech announced a strategic partnership with YHCC. This is the first license agreement to arise from that partnership.
Under terms of the license, Applied Nanotech will receive an ongoing royalty of 3 percent of sales of solar ink and paste by YHCC, as well as a $1.5 million upfront payment due by August 2011. Another $500,000 is payable in April 2012, assuming certain technical specifications have been met.
“YHCC has shown a tremendous amount of interest in our solar inks since we began developing our relationship. We are pleased that YHCC has recognized the disruptive nature of our technology and have committed to make the commercialization of our solar inks the highest priority,” said Dr. Zvi Yaniv, CEO of Applied Nanotech, Inc.
Construction has begun on a new YHCC manufacturing facility to produce solar inks in its technical park in China. The first products produced there will be Applied Nanotech’s aluminum pastes. YHCC is expected to be manufacturing and selling these pastes in 2012, giving Nanotech exposure to the fast growing solar-manufacturing market in Asia.
The photovoltaic solar industry generated $82 billion in global revenues in 2010, with Asia dominating the solar manufacturing marketplace and China alone manufacturing nearly 60% of the worldwide solar cells in 2010.
The license agreement grants YHCC an exclusive license for Applied Nanotech’s solar ink and paste technology in Asia, excluding Korea and Japan. The parties are continuing discussions related to other collaboration opportunities.
“We are pleased to have completed the first license agreement with YHCC, which marks our third licensee that will have products in the market and generating royalties in 2012,” said Doug Baker, CEO of Applied Nanotech Holdings, Inc.