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Penny-stock BioSolar, Inc. (OTC: BSRC) is up more than 25% in morning trading Monday on volume of more than 380,000 shares on the announcement of a manufacturing partner for its technology.

The Santa Clarita, California-based developer of new solar cell technology announced that Connecticut-based Rowland Technologies, Inc. has been selected to manufacture BioSolar’s BioBacksheet solar cell component.

BioBacksheet is the result of BioSolar’s efforts to reduce solar electricity component costs while make solar energy more environmentally friendly. Despite solar energy being renewable and pollution-free, petroleum is still a major component of solar cells. In a GreenTechMedia.com news article on BioSolar, CEO David Lee says BioBacksheet is not only produced from plant-based materials, but these plants are not a food source.

Though BioBacksheet has yet to be tested independently, an especially important step because solar panels are generally expected to last at least 20 years, if viable a large market waits as the solar sector is currently hamstringed by component shortages.

Also, though BioSolar has selected a manufacturing partner, the company still has to raise the money to actually fund manufacturing – founded in 2006, the BioSolar only netted $3 million in its IPO. CEO Lee admitted that more capital is needed for manufacturing, but just how or when it will be raised, and how much current equity will be diluted in the process, is not known.

As of publication, BioSolar, Inc. shares are up 26.92% to $0.50.

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