A start-up company developing third generation film photovoltaic technologies which dramatically increase solar cell efficiency and reduce manufacturing costs, has announced the $41.5M first close of a Series C financing round, following the following the successful completion of a 2MW pilot line.
Californian based Solexant utilizes an extremely capital efficient "roll‐to‐roll" manufacturing technique to produce the industry's first nanocrystal ultrathin‐film solar cell. This method allows for more efficient use of equipment space, as well as higher throughput and lower labour costs than competing thin film companies. The company's production process brings down the solar module manufacturing cost and total balance of systems (BOS) cost to below those of other thin film competitors said the company in a recent statement.
Developed at Lawrence Berkeley National Lab (LBNL) by Dr. Paul Alivisatos and his team, Solexant's printable nanocrystal technology platform can produce flexible thin films using a variety of materials through a fast and simple deposition process.
The first commercial products will be based on printed CdTe nanocrystals followed by solar cells based on other higher efficiency printed nanocrystal materials over the next few years.
"Solexant's innovative printed nanocrystal technology platform has the potential to deliver the lowest cost per watt in the solar industry," explained Damoder Reddy, CEO of Solexant.
Solexant and LBNL have received numerous technology and manufacturing awards for nanocrystal solar cells, including the prestigious R&D 100 Award in 2009.
For more attend : Printed Electronics & Photovoltaics USA 2010 .