DuPont on Monday announced that it has acquired Sunnyvale, Calif.-based Innovalight, which specializes in the development of silicon inks and process technologies to increase the efficiency of crystalline silicon solar cells.
Financial terms were not disclosed.
The acquisition is the latest step by DuPont to cement its position as a major source of materials for photovoltaic solar panels as the broader renewables market gains steam. The conglomerate made more than a billion dollars in revenue in PV solar last year, and is aiming to double that by 2014.
To do so, it needs to improve solar module efficiency, extend durability and reduce cost. Enter Innovalight, which brings silicon and solar intellectual property to DuPont's materials science expertise.
The fit is intended to be complementary as the larger company strives for a "vertical stack" in this part of the solar pipeline; the hope is to combine DuPont's Solamet PV metallization pastes with Innovalight's Selective Emitter tech (and its silicon inks) to boost crystalline silicon solar cell production to 13 percent by 2013 and "up to 38 percent" by 2020.
Serious goals, indeed -- and it doesn't hurt that Innovalight gains access to DuPont's backsheet films and encapsulants.
Photo: Innovalight founder Conrad Burke. (Innovalight)
This post was originally published on Smartplanet.com