DuPont acquires Innovalight, expanding its solar power
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 strengthens DuPont's position as a leader in materials for the solar energy market, according to the company. Financial terms of the acquisition were not disclosed.
“Innovalight has very exciting technology that improves cell efficiency and DuPont can help expedite its adoption,” said David B. Miller, president – DuPont Electronics & Communications. “DuPont and Innovalight share a commitment to innovation in materials that have a common purpose – to make solar energy more efficient and more affordable.”
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 is based in Sunnyvale, Calif., and has developed proprietary silicon ink products, process technology and a pipeline of anticipated products. Silicon inks used in conjunction with DuPont Solamet photovoltaic metallization pastes boost the amount of electricity produced from sunlight, enabling the production of superior Selective Emitter solar cells, the company said.