SpectraWatt Selected for NREL Pre-incubator Funding
Funding targeted to improve efficiencies of multi-crystalline solar cells
Hillsboro, OR – June 17, 2009 – SpectraWatt, Inc., a manufacturer and supplier of advanced silicon photovoltaic cells to the solar industry, announced that the company has been selected for $500,000 in funding from the U. S. Department of Energy's (DOE) National Renewable Energy Laboratory (NREL) PV Technology Pre-Incubator program.
SpectraWatt was selected after a technology review by a panel of experts under the highly competitive program.
SpectraWatt will use the funds to improve silicon solar cell efficiency through the use of an additive nano-structured material. This project aims to increase the performance of standard multi-crystalline-Silicon solar cells solar cells through increased current collection in a way that does not require modifications to existing manufacturing process streams. "We view this as a great opportunity to partner with NREL on innovative research to reduce the cost of solar" said Andrew Wilson, CEO of SpectraWatt.
The PV Technology Pre-Incubator program bridges the gap between the concept verification stage of a technology and the development of a commercially viable prototype. This program is aimed at small businesses that have the capability to enter the market by 2012, enabling electricity close to grid parity. The rapid research and development advancements of these innovative technology concepts will result in prototypes with projected manufacturing costs of less than $1/watt.
About SpectraWatt
SpectraWatt is a manufacturer and supplier of photovoltaic cells for the solar industry. In addition to focusing on advanced solar cell technologies, SpectraWatt concentrates on improvements in current manufacturing processes and capabilities to reduce the cost of photovoltaic energy generation. Its mission is to deliver solar energy at grid parity through product and manufacturing technology innovation. Investors include Intel Capital, Cogentrix Energy, PCG Clean Energy and Technology Fund and Solon SE.