DuPont is diversifying further into the solar photovoltaic marketplace, with its acquisition of the California-based solar cell technology company Innovalight, announced today.
The financial terms of the acquisition have not been disclosed.
Based in Sunnyvale, California, Innovalight was founded in 2002 and specialises in advanced silicon inks and process technologies that increase the efficiency of crystalline silicon solar cells.
Already, DuPont is a major global player in supplying materials to the photovoltaic industry. Last year, its sales into the photovoltaic marketplace exceeded US$1bn in revenue, with the company having set the goal to reach US$2bn by 2014 based on new innovations that improve solar module efficiency.
"Innovalight has very exciting technology that improves cell efficiency and DuPont can help expedite its adoption," said David Miller, president, DuPont Electronics & Communications, in a statement released by the company today.
Innovalight has developed innovative proprietary silicon ink products and process technology. According to DuPont, silicon inks, when used with its Solamet photovoltaic metallization pastes, will boost the amount of electricity produced from sunlight, allowing for the creation of superior selective emitter solar cells.
DuPont anticipates that selective emitter technology could represent 13pc of crystalline silicon solar cell production by 2013 and up to 38pc by 2020.
It predicts that the acquisition will spawn future innovations that could more quickly and effectively help address the market demand for higher-efficiency solar cell designs.
Photo: Innovalight founder Conrad Burke who today pointed to how the company’s knowledge of solar devices, silicon technology and selective emitter technology will complement DuPont’s expertise in materials science