AlQa'dah 6, 1432, Oct 4, 2011, SPA - King Abdullah University of Science and Technology (KAUST) and the University of Toronto have signed a first-of-its-kind license agreement for rights to quantum dot solar cell technology of the Canadian University. Developed by Dr. Edward Sargent, Canada Research Chair in Nanotechnology at the University of Toronto, Canada's premier research university, the technology uses quantum dots to convert the sun's power efficiently into electrical energy. Dr. Sargent's work has been funded by KAUST since 2008 as part of its Global Collaborative Research Program, according to a latest press release of KAUST. This technology has made great strides towards the goal of breaking the present-day constraining paradigm between high efficiency and low cost in solar cells. "This agreement demonstrates a new way for research universities in developing countries to help transform local and regional economies by licensing-in intellectual property rights for the benefit of industry, especially new companies," said Terence McElwee, KAUST Director of Technology Transfer & Innovation. --MORE
