We work together to achieve a common goal, not for individual objectives. Ltd. ("BTi"), a global leader in photoluminescence (PL) imaging tools and instruments for PV material inspection and quality control. One of the first decisions made was to combine global sales teams and to wind down Aurora's Chinese operations placing the commercial responsibility for the Insight product with BT Imaging in Sydney and Shanghai under a revised organizational structure. The Company recognizes there is room to improve based on the confidence of this adapted strategy. The Company will provide further details on the Acquisition and the combined business in a conference call to be held in mid-September co-hosted by Stifel and Aurora. Auroras. (, Aurora Solar Technologies Announces Repeat Volume Orders, Aurora Solar Technologies Announces Order from Chinese Solar Cell Manufacturer, By using the ENF website without adjusting your cookies settings, you agree to our use of cookies as described in our, 100-788, Harbourside Drive, North Vancouver, BC, V7P 3R7. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. "Space weather can ground flights," Owens said, adding that the Federal Aviation Administration "won't allow flights if they don't have both radio and satellite communications.". First Name. North Vancouver, British Columbia-- (Newsfile Corp. - August 26, 2022) - Aurora Solar Technologies Inc. (TSXV: ACU) (" Aurora ", the " Company ") is pleased to announce that the acquisition of. The goal is to determine Insight product viability through a commercial outcome prior to the end of the current calendar year. BT Imaging's year end (June 30, 2022) audit is nearing completion without any material issues being identified and the Company remains on track for filing its Business Acquisition Report on November 8, 2022. Weve grown our team by 8X, our solutions are used by 90% of the top U.S. residential solar contractors, and weve been globally recognized Real Leaders Impact Award 2022, Forbes AI 50 2022, Inc. 5000 2021, and S&P Global Platts 2020 Rising Star Company. Tons of financial metrics for serious investors. Humans on Earth are shielded from that radiation, as most of it bounces off the ionosphere and the rest is absorbed by the atmosphere. Get 20 years of historical ev to assets ratio charts for AACTF stock and other companies. And when you do, build it well. On 4 October 2022, the Company announced that Gordon Deans retired as the President and CEO of the Company; Mr. Deans will remain a member of the Board of Directors of the Company. BT Imaging is also diversifying with a recent product sale for a new in-line cell manufacturing application in Europe along with a first sale for a newly developed product regarding perovskite solar cells. BT Imaging's website is located at www.btimaging.com. Aurora's products are used by some of the world's most advanced and respected solar cell manufacturers. In the drive to Grid Parity, their unique products, built into the . Explore how you can get involved / how we can work together. Aurora is purchasing a proven business with a strong product brand, synergetic operational execution capability, institutional ownership and strategic relationships including the University of New South Wales School of Photovoltaics and Renewable Energy Engineering, a global center of excellence in photovoltaic industry. As the sun's local magnetic fields get more tangled and crash into each other, they can explode. In addition, Kevin met with legal, accounting, and advisory professionals who are supporting the business and met the University of New South Wales' innovation office regarding collaboration, commercialization, and technology funding opportunities. This means the sun will produce more solar flares, or powerful bursts of energy. The plasma, which is made of charged particles, boils toward the surface, cools down, and sinks back toward the core again. If youre reading this, you probably agree. BTi's products are used in multiple parts of the PV supply chain -from silicon ingots and wafers, through to finished cells. products are used by some of the worlds most advanced and respected solar cell manufacturers. "We are delighted to have completed this important acquisition, as a key element of our growth and market development strategy in process control and yield management solutions for the PV industry. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, investors are cautioned that such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. These new common shares shall be subject to escrow conditions and released in three tranches on December 26, 2022, June 25, 2023 and December 25, 2023 in the amount of 20,032,003, 21,468,674, and 21,468,674 common shares, respectively. Medical, Dental, and Vision plans are 100% covered. "And they're nearly always there, but they become very much stronger when we've got a geomagnetic storm going on.". Aurora is an inline solar cell measurement equipment specialist. Even the International Space Station is still under the protection of the ionosphere. But as SpaceX and NASA aim to ramp up missions in the coming years, they'll need to prepare for solar storms the issue is that there's no good way to shield astronauts in space, Owens said. Delayed Bourse de Toronto Dont accept the status quojust because it is, doesnt mean it has to be. Still, we're not in immediate danger. The other primary objective was to achieve alignment among senior leadership by: (i) stabilizing the Aurora business through synergies derived from the BT Imaging acquisition combined with a disciplined approach to Insight's product commercialization; (ii) leveraging available synergies to support growth; and (iii) embracing a broadened product suite and customer base to better position the combined company for diversification. The sun also lets off radioactive material called solar energetic particles that can be dangerous to astronauts. We value your teammates and the different perspectives they bring and respect, and celebrate our differences. Aurora's website is located at www.aurorasolartech.com. Granted, radio signals are much less important to basic communications today. "They missed it purely by chance, and it could have been fatal for the astronauts at the time," Owens said. They believe that solar power will dominate the renewable energy field, and their mission is to bring quality and profitability to every customer through superior control of critical . Sign up for notifications from Insider! With each decade, we become more dependent on electrical infrastructure, he said. Still, a space-weather event in 1989 shows just how vulnerable we've become: A huge geomagnetic storm on March 13 cut power for 6 million people in Quebec for nine hours. The sun itself might be erupting in more beautiful formations. Our products provide rapid payback, with ongoing profitability for our customers. HIGHLIGHTS, SIGNIFICANT EVENTS AND TRANSACTIONS DURING THE PERIOD, The Business Acquisition report relating to the acquisition of BT Imaging PTY Ltd. was filed on Sedar on 8 November 2022. On demand, permit-ready solar plan sets available from Aurora in 24 hours. They allow process engineers and production-line operators to rapidly detect and correct process excursions, material faults and optimize processes, thereby increasing our customers throughput, yield and profit. If youre looking for a mission-driven company where your work will have an impact on a truly global scale, join us and well do it together. Aurora Solar was named Rising Star Company. That motion, called convection, is what creates strong magnetic fields at the poles and smaller, local magnetic fields at the surface of the sun. Our products measure and display the results of critical cell fabrication processes, revealing material properties and the performance of manufacturing tools and processes. Claim your Free Employer Profile. Give your sales team everything they need to close in one call: simple guided workflow, interactive consultations and eSignature to close on the spot. Its technology improves solar cell efficiency . Can you imagine yourself waking up every morning knowing that youre helping create a more sustainable future? "Our adverts are very targeted (inverter manufacturer advert on inverter category etc.) Create a highly accurate solar design without having to visit the site, saving time and money during the quoting process. Copyright 2023 Surperformance. Dont take things for granted and challenge assumptionsincluding your own. Aurora Solar Technologies Provides an Update on Its Insight (TM) Data Science Product and Associated Strategic Initiatives Aurora Solar Technologies Provides an Update on Its Insight (TM) Data. ENF Solar is a definitive directory of solar companies and products. A single solar panel can cost around 400 euros to install, but obviously, this may vary depending on the size and type of system. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142681, https://www.newsfilecorp.com/release/142681, UPDATE 1-UK says Ukraine forces under increasingly severe pressure defending Bakhmut, Ukraine Latest: Russian Defense Chief Makes Rare Visit to Troops, In Britain, warm hubs emerge to beat soaring energy costs, INSIGHT-Before fatal collapse, Turkish building had skirted code thanks to Erdogan policy, In Chicago, adapting electric buses to winters challenges. During the month of October, Kevin has been in Sydney, Australia to assess BT Imaging operations, listen to employees to support culture and leadership changes and efficiently realize synergies. Phone. This is the Aurora Solar Technologies company profile. "Then you lose refrigeration, you lose power to hospitals things get quite serious quite rapidly," Owens added. Access your favorite topics in a personalized feed while you're on the go. Check out our video and blog highlighting the phenomenal growth of solar and how Aurora empowers homeowners with a new energy experience. The rays can change the magnetic fields in the ionosphere, which can affect GPS signals that have to pierce through that layer to reach Earth. BTi, a private Australian company, is an established leader in photoluminescence (PL) imaging tools for PV material inspection and quality control during production, and for laboratory use during product development. Forward-looking statements reflect current expectations of management regarding future events and operating performance as of the date of the MD&A. The solar storms that rage on our star during its active period create bursts of electromagnetic energy that can affect everything from the power grid to GPS signals. Here are some solar technologies in 2022 that we're keeping an eye on. One damaged transformer won't cause much of an issue. They believe that solar power will dominate the renewable energy field, and their mission is to bring quality and profitability to every customer through superior control of critical processes during solar cell manufacturing. A 2018 study looking at space weather at the time concluded that the cause was a huge solar storm. The following information should be read in conjunction with the unaudited Condensed Interim Consolidated Financial Statements of Aurora Solar Technologies Inc. ("the Company", or "Aurora") for the nine and three months ended 31 December 2022 and 2021, and the related notes attached thereto, which were prepared in accordance with International Financial Reporting Standards ("IFRS"). Stifel GMP acted as Aurora's financial advisor on this transaction and will receive 2,500,000 common shares issued at a deemed price $0.10 per share. But several industries use radio signals to back up their other communications systems in case of failure. We want you to get the best possible results from our products. This allows advanced cell manufacturers to rapidly and precisely understand when and how to control their production for optimal yield and throughput. We believe that solar energy is key to creating a better future. Your customers get a premium experience and you save time. These solar cells are then wired together (typically in groups of 60 or 70 cells) and framed to form modules. -, Aurora Solar Technologies Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. This business combination is expected to accelerate Aurora's growth by combining BTi's quality control tools with Aurora's InsightTM data science platform. Aurora's non-contact, high throughput DMTM and TCMTM products use proprietary patented technology, based on the principles of infrared spectroscopy sensing to measure the properties of the afore-mentioned solar cell chemical layers as they are deposited and thermally annealed. BTi was incorporated in 2007 in the State of New South Wales, Australia as a private limited company to commercialize imaging technology originally developed at the University of New South Wales School of Photovoltaic and Renewable Energy Engineering. Aurora is a public company, traded on the TSX Venture Exchange (ACU) and is a two-time TSX-V Top 50 winner. NASA spotted a rare polar vortexthis month. By the end of March 2023, the combined business is expected to benefit from realized synergies combined with compelling revenues and margins with the objective of being on a cash flow run rate that is neutral to positive. All rights reserved. An invigorated organizational structure has been implemented which includes the appointment of Chao (Hunter) Shen as General Manager of BT Imaging with profit and loss responsibilities, Tricia Pederson as Chief Financial Officer with corresponding operational responsibilities, and Sal Sanci in charge of Technology and Development with corresponding operational responsibilities. North Vancouver, British Columbia--(Newsfile Corp. - August 26, 2022) - Aurora Solar Technologies Inc. (TSXV: ACU) ("Aurora", the "Company") is pleased to announce that the acquisition of BT Imaging Pty Ltd. (the "Acquisition") (please refer to the Company's news releases dated March 3, 2022, May 31, 2022, July 5 and July 28, 2022) has been completed effective August 25, 2022 in Vancouver, Canada and August 26, 2022 in Sydney, Australia. As the combined company integrates and develops it will be increasingly well placed to diversify its business through its market and product strategy, technology development and value enhancing transactions with an objective to grow beyond market opportunities in China. Announces Passing of Board Member, David Robinson, Aurora Solar Technologies Corporate Update Regarding Leadership, Aurora Solar Technologies Inc. BTi's R series products are designed for laboratories and off-line production quality control and its W series products are used by silicon wafer and cell manufacturers for both in-line and off-line process control. M ANAGEMENT D ISCUSSION AND A NALYSIS . Solar flares can disrupt radio communications and electric power grids on Earth. Perovskite Cells Perovskite cells are flexible, lightweight, and low-cost solar cells made using perovskite and organic materials. But we didn't rely as much on electricity back then as we do now; the only thing it knocked out were telegraph lines. That could cause problems for air travel. These so-called solar maximums occur roughly every 11 years, and they haven't been much of a problem in the past. The total consideration issued by Aurora to BTi shareholders for this Acquisition was 62,969,351 common shares and $1,205,310 in cash.