DuPont acquires Innovalight solar energy market

DuPont acquires Innovalight for solar energy market

3:58 PM, 26th July 2011
DuPont acquires Innovalight for solar energy market
David B Miller, President, Electronics & Communications, Dupont.

DELAWARE, US: DuPont acquired Innovalight Inc, a company specializing in advanced silicon inks and process technologies that increase the efficiency of crystalline silicon solar cells. The acquisition further strengthens DuPont’s position as a clear leader in materials for the solar energy market, enabling a broader and more integrated photovoltaic materials and technology offering from DuPont. Financial terms of the acquisition were not disclosed.

DuPont exceeded $1 billion in revenue from sales into the photovoltaic market in 2010, and has set a goal to reach $2 billion by 2014 based on continued growth supported by new innovations that improve solar module efficiency, lifetime and overall system costs.

“Innovalight has an exciting technology that improves cell efficiency. DuPont and Innovalight share a commitment to innovation in materials that have a common purpose to make solar energy more efficient and more affordable,” said David B Miller, President, Electronics & Communications, Dupont. According to industry estimates, selective emitter technology could represent 13 per cent of crystalline silicon solar cell production by 2013 and up to 38 per cent by 2020.

“Innovalight brings in-depth knowledge of solar devices, silicon technology and selective emitter technology and DuPont adds expertise in materials science, manufacturing capabilities and global market access. Together we will broaden and accelerate our ability to meet customer needs and address today’s energy challenges,” said Conrad Burke, Founder, Innovalight.

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