North Vancouver, British Columbia--(Newsfile Corp. - August 9, 2018) - Aurora Solar Technologies Inc. (TSXV: ACU) (OTCBB: AACTF) (FSE: A82) ("Aurora")("Company") is pleased to announce an order for five monthly subscription licenses for InsightTM, Aurora's novel "data science" product that, using solar cell production line measurements, provides manufacturers with previously unattainable information for increasing yield and efficiency. Insight is a new software as a service product that advances the Company's mission of creating a fully integrated quality control system for the solar cell manufacturing industry.
In addition to Insight, this customer has previously purchased several Aurora DM (formerly Decima) series measurement systems which are used in their high-efficiency cell production. The Insight server and subscription licenses are expected to ship in early September.
The Company also announces that Michael Heaven, President & CEO, will step back to the role of Chairman of the Board for family health reasons. He will remain actively involved in the leadership of the Company he co-founded and will fully support the management as required.
Kevin Dodds, a current investor and Director of the Company will take over as President & CEO on an interim basis effective immediately. Mr. Dodds has been actively involved in the company for the past several months and is up to speed on the sales pipeline and leadership position the Company holds with the leaders in the solar cell manufacturing industry. Mr. Dodds will work closely with Mr. Heaven during the transition period and has the full support of the Aurora's Board of Directors and operating team, including Gordon Deans, COO and co-founder, and Steve McDonald, VP of Business Development.
Kevin is a proven executive with more than 20 years of financing and operations experience, during which he has been instrumental in growing companies through investment, opening of new market opportunities and securing business. Kevin brings extensive commercial leadership and international business experience within multifaceted businesses that will benefit Aurora at this strategic time.
"This is an exciting time at Aurora, as it transitions from early revenues and product validation towards sustainable sales growth. Aurora is in a unique position to grow its business as solar manufactures accelerate the adoption of advanced cell structures to make the best solar cells based on Aurora's inline measurement and process control systems," stated Kevin Dodds.
The Company also announces that it issued 250,000 options to Mr. Dodds at the August 8, 2018, closing price.
About Aurora Solar Technologies:
Aurora's mission is to deliver exceptional results to the photovoltaic industry through measurement, visualization and control of critical processes during solar cell manufacturing. We measure and map the results of critical cell fabrication processes, providing real-time visualization of material properties, cell parameters and production tool performance. Our products provide process engineers and production-line operators with the means to rapidly detect, analyze and correct process excursions, limit variations and optimize processes, thereby increasing yield and profits. We are creating the quality control standard for the global photovoltaic manufacturing industry. For more information, Aurora's website is located at www.aurorasolartech.com.
For further information contact:
Michael Heaven, P.Eng., MBA
Chairman of the Board
Aurora Solar Technologies Inc.
Phone: +1 (778) 241-5000
Investor Relations contact:
Paradox Public Relations
Phone: +1 (514) 341-0408
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. The Company does not assume the obligation to update any forward looking statement.