Homerun Resources Inc. Memorandum of Understanding with Halocell Energy Inc

Rhea-AI Summary

Homerun Resources Inc. has signed a non-binding Memorandum of Understanding (MOU) with Halocell Energy Pty to collaborate on developing and producing high-efficiency solar solutions. Halocell is a leader in perovskite solar cell technology, which has shown significant improvement in efficiency over the years. The partnership aims to leverage disruptive technologies for competitive advantage in the solar industry. Homerun plans to integrate Halocell's solutions into their solar vertical, utilizing silica sand resources in Brazil. The MOU outlines technical assistance and collaboration to optimize outdoor Solar Glass / PSC solutions.

Positive

• Homerun Resources Inc. has established a strategic partnership with Halocell Energy Pty to develop high-efficiency solar solutions.

• Halocell is a global leader in perovskite solar cell technology, offering valuable expertise and experience in the field.

• The collaboration aims to integrate disruptive technologies to gain a competitive edge in the evolving solar industry.

Negative

• The Memorandum of Understanding (MOU) is non-binding, leaving room for potential uncertainties in the partnership.

• There may be challenges in effectively integrating Halocell's solutions into Homerun's solar vertical, requiring extensive collaboration and technical expertise.

Vancouver, British Columbia--(Newsfile Corp. - May 6, 2024) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that the Company has executed a non-binding Memorandum of Understanding (MOU), between Homerun and Halocell Energy Pty Ltd. (Halocell).

• Homerun is developing its business within the energy materials verticals focused on the solar and energy storage sectors.
• Halocell is a recognized world leader in research and development of perovskite technology to produce perovskite solar cells (PSC).
• Perovskite solar cells have shown remarkable progress in recent years with rapid increases in solar conversion efficiency, from about 3% solar conversion efficiency in 2009 to over 25% solar conversion efficiency in 2023 (according to NREL).
• Halocell and Homerun intend to collaborate to develop and produce the highest efficiency and most stable outdoor Solar Glass / PSC solutions.

Brian Leeners, CEO of Homerun stated, "This MOU is another important addition to our strategic plan to fully integrate into a world class energy transition materials company taking full advantage of disruptive next generation technologies and applying them to planned outputs which provide Homerun with a competitive advantage in the evolving solar space for years to come. Halocell has earned its reputation as a global leader in the development of perovskite solar technology, and we are excited to integrate their solutions into our solar vertical which originates from the amazing silica sand resources we have in Bahia, Brazil. Today, Homerun has become a leading technology and solutions provider in the solar revolution."

Perovskite Solar Cells
Perovskites are a family of materials that have demonstrated the potential for high performance and low production costs in solar cells. Perovskite solar cells have shown remarkable progress in recent years with rapid increases in solar conversion efficiency, from about 3% solar conversion efficiency in 2009 to over 25% solar conversion efficiency in 2023. The substrate for Perovskite solar cells is also glass. Perovskite solar cells are being initially commercialized through manufacturing integration into Tandem solar cells and soon we will see commercialization of stand-alone Perovskite solar cells. Tandem or not, new perovskite solar cells are all but certain to be on the market in the next few years. That will add even lower cost and greater solar conversion efficiency to the solar revolution. (https://www.nrel.gov/pv/cell-efficiency.html).

Under the terms of the MOU, Halocell and Homerun agree to provide technical assistance to each other to develop the best outdoor Solar Glass / PSC solutions.

Halocell will contribute and make available the following:

• Chemistry and process experience in development of the highest efficiency outdoor PSC formulations.
• Chemistry and encapsulation experience to maximize the life span of the solar cells.
• Structural and layering experience to maximize the overall performance of the cells.
• Materials and operational experience to provide the best performance cells at the lowest cost.

Homerun will contribute and make available the following experience and information:

• Required testing specifications.
• Details of the manufacturing processes, including how the Perovskite Solar Cells can be incorporated into Solar Glass production as a final device.

About Halocell Energy Pty Ltd. (https://halocell.energy/)
Halocell Energy is a pioneering company at the forefront of perovskite solar cell technology. Founded with a vision to revolutionize renewable energy, Halocell specializes in the development and commercialization of high-efficiency perovskite solar cells for a sustainable future. With a team of leading experts and innovators in the field, Halocell is dedicated to advancing the performance, stability, and scalability of perovskite solar cells to make them a viable and competitive alternative to traditional silicon-based photovoltaics.

About Homerun Resources (https://homerunresources.com/)
Homerun Resources is focused on the development of its business within the critical and energy materials sectors. With a steadfast commitment to operational excellence, sustainability, and building shareholder value, Homerun Resources Inc. is poised to make a lasting impact in these industries.

On behalf of the Board of Directors of
Homerun Resources Inc.

"Brian Leeners"

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208121

FAQ

What is the recent partnership announced by Homerun Resources Inc.?

Homerun Resources Inc. has signed a non-binding Memorandum of Understanding (MOU) with Halocell Energy Pty to collaborate on developing high-efficiency solar solutions.

Who is Halocell Energy Pty and what is their expertise?

Halocell Energy Pty is a global leader in perovskite solar cell technology, offering chemistry and process experience in developing efficient outdoor PSC formulations.

What is the focus of the collaboration between Homerun and Halocell?

The collaboration aims to integrate disruptive technologies to gain a competitive advantage in the evolving solar industry by developing and producing high-efficiency solar solutions.

Where will Homerun Resources Inc. source resources for their solar vertical?

Homerun Resources Inc. plans to utilize silica sand resources in Bahia, Brazil for their solar vertical.

What key areas of expertise will Halocell and Homerun contribute to the partnership?

Halocell will provide chemistry and process experience, encapsulation expertise, structural and layering experience, and materials and operational experience. Homerun will contribute required testing specifications and manufacturing processes details.