NanoFlex Power Corporation (OTCMKTS:OPVS) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On February 2, 2017, NanoFlex Power Corporation, a Florida
corporation (the Company) entered into a License
Agreement (the Agreement) with SolAero
Technologies Corp. (SolAero). In the Agreement,
the Company agreed to grant SolAero a non-exclusive worldwide
license to use, sell, offer for sale, import or otherwise dispose
of certain products (the Licensed Products)
using the Companys patented proprietary manufacturing processes
relating to Gallium Arsenidebased photovoltaic cells (the
Licensed Patents) within the space and
near-space fields of use (Licensed Field).
SolAero is to pay the Company a royalty based on sales of the
Licensed Products within the Licensed Field. The Agreement does
not provide SolAero with the right to sublicense the Licensed
Patents. The term of the Agreement runs from February 2, 2017,
through to the expiration date of the last expiring patent
included in the Licensed Technology. However, each party may
terminate the agreement upon a material breach by the other
party.
Previously, on August 26, 2015, the Company signed a Joint
Development Agreement with SolAero for the joint development of
high efficiency solar cells utilizing our proprietary
manufacturing processes in conjunction with SolAeros advanced
high efficiency solar cell technologies.
ITEM 8.01 OTHER EVENTS.
On February 7, 2017, the Company issued the attached press
release.
ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS
| (d) | Exhibits. |
| Exhibit No | Description | |
| 10.1 |
License Agreement with SolAero Technologies Corp. Dated February 2, 2017. * |
|
| 99.1 | Press Release dated February 7, 2017. | |
* Portions of such exhibit have been omitted to a request for
confidential treatment submitted to the Securities and Exchange
Commission.
About NanoFlex Power Corporation (OTCMKTS:OPVS)
NanoFlex Power Corporation is a development-stage company. The Company is engaged in the research and development of solar technologies. The Company’s solar technologies enable thin-film solar cell implementations. The Company’s research programs have yielded two solar thin film technology platforms: Gallium Arsenide (GaAs) thin film technology for high power applications and organic photovoltaic (OPV) technology for applications demanding aesthetics, such as semi-transparency and tinting and ultra-flexible form factors. These technologies are targeted at certain applications, including mobile and off-grid power generation; building applied photovoltaics (BAPV); building integrated photovoltaics (BIPV); space vehicles and unmanned aerial vehicles (UAVs); semi-transparent photovoltaic windows or glazing, and ultra-thin solar films or paints for automobiles or other consumer applications. NanoFlex Power Corporation (OTCMKTS:OPVS) Recent Trading Information
NanoFlex Power Corporation (OTCMKTS:OPVS) closed its last trading session up +0.50 at 1.00 with 1,200 shares trading hands.