North Vancouver, July 10, 2023 – Aurora Solar Technologies Inc. (TSX.V: ACU) (“Company”) announces that all matters submitted to the shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular were approved at the Company’s Annual General Meeting held in Vancouver, B.C., on June 30, 2023. Shareholders re-elected Kevin Dodds, Roger Buckeridge, David Toyoda and Gordon Deans as directors of the Company, approved an amendment to the Company’s stock option plan and elected BDO as the auditor of the Company for the year with their remuneration to be fixed by the board of directors. Shareholder approvals for each resolution was at thresholds greater than 99% with over 30% of the issued and outstanding shares voting at the meeting. The Company is grateful for the strong shareholder voting approval levels including those from its institutional shareholders.
The Company is also pleased to announce the formal creation of an Advisory Board to support strategic direction. This Advisory Board is focused on product and market strategy and has been working effectively with the Chief Executive Offer to enable growth initiatives. The Advisory Board is initially comprised of Dr. Johnson Wong, the Company’s head of technology, Budi Tjahjono a solar industry expert and Wang Wei a specialist within the chemical and energy industry.
Dr. Wong received his PhD in Photovoltaic Engineering from the University of New South Wales (UNSW) and is an accomplished expert within the field of solar cell characterization and analysis. Prior to his role with the Company, he was the head of PV Characterization at the Solar Energy Research Institute of Singapore and has developed simulation tools and software analysis for solar cells and modules used widely by the photovoltaic industry.
Dr. Tjahjono received his PhD from UNSW and has worked as a consultant transferring technology from research labs at UNSW into mass production in various companies in China, Taiwan and Germany. Currently he is setting up the first GW size solar cell manufacturing in North America and was previously the CTO of Sino-American Silicon.
Wang Wei received his master degree in chemical engineering from the Beijing Chemical Engineering Institute and Taiyuan University of Technology. Currently, Wang Wei is the Chief Executive Officer of Hofung China focused on distributing technologies for large international companies within the chemicals and energy industries including, renewables.
In addition, the Company is pleased to add Brett Freeman as a strategic advisor to the Chief Executive Officer. He is an experienced senior executive with a track record of successfully leading global energy and digital technology businesses through rapid growth. Most recently Brett worked closely with the executive team and board of 5B Solar to launch their business into the solar renewable energy market. As chief operating officer, he drove growth and built a thriving ecosystem of partners and customers, delivering a growth platform for 5B Solar to install giga-watts of prefabricated utility solar solutions safer, faster and at lower cost. Brett is an electrical engineer based in Sydney and will be joining the Company’s subsidiary BT Imaging full time as Managing Director on August 14, 2023.
As part of the Company’s strategy to grow the business and enhance its execution capability, management has been working extensively with these consultants over the past few months to build momentum with the Company’s strategic direction. Each of these consultants bring experience and complementary skill sets to advise on growth opportunities associated with machine learning and smart factory solutions that leverage the Company’s PL imaging platforms. The Company is pleased to have these consultants joining the Company at this exciting time as it prepares to diversify into inline PL systems within the solar cell and module production lines.
As part of the incentive plan to attract and retain high performing roles to drive the growth of Aurora and BTI Imaging, the Company announces stock option grants to directors, officers and consultants totaling 17,800,000 options exercisable at $0.05 for a five-year term, subject to the acceptance of the TSX Venture Exchange. This incentive is aligned with shareholder objectives to best position the Company and BT Imaging for long term success.
About Aurora Solar Technologies and BT Imaging:
BT Imaging Pty Ltd. is a globally recognized technology leader in proprietary photoluminescence (PL) measurement products for material inspection and quality control throughout the solar wafer, cell and module value chain. Aurora Solar Technologies Inc. (“Aurora”), a related metrology and software company, acquired BTI with the aim to leverage its strong metrology platforms and computer vision capabilities to support its smart factory solutions that embrace emerging trends in automation and process control.
Aurora’s and BTI’s products are used by some of the world’s most advanced and respected solar cell manufacturers. With headquarters near Vancouver, Canada, Aurora has operations in Sydney, Australia, Shanghai, China, and partners in all major solar manufacturing markets. Aurora is a public company, traded on the TSX Venture Exchange (ACU) and is a two-time TSX-V Top 50 winner. Aurora’s website is located at www.aurorasolartech.com. BT Imaging’s website is located at www.btimaging.com.
For further information contact:
Phone: +1 (604) 317-3936
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.