Oxford Photovoltaics Ltd is a spin-out from University of Oxford which has exclusively licensed the rapidly growing portfolio of Intellectual Property developed by Dr. Henry Snaith and his academic team of 15 scientists. Dr Snaith is leading an intensive and wide-ranging programme of research which is aimed at creating individual solar cells which are highly efficient and robust enough to have a lifetime of over 20 years. This research programme provides the building blocks for the Company's product roadmap. Currently, the solar cell development is advancing rapidly with independently verified efficiency of 5%, and with identified enhancements which should deliver 8% efficiency within 18 months and greater than 10% efficiency in the near term. An 8% efficient organic cell which can last more than 20 years will be widely regarded as a major break though in the industry.