Innovalight has declared that it has received $3.4 million worth grant from the U.S. Department of Energy (DOE).
The funding is offered as part of the SunShot initiative of DOE, enabling Innovalight to further improve the production of nanotechnology-based silicon ink and other proprietary methods for sophisticated solar cells at its plant located in Silicon Valley.
Innovalight’s proprietary method facilitates easy advancement of solar cell producing lines to enhance the functionality of solar cells and minimize manufacture costs. Recently, the company declared distribution contracts with various major solar cell developing firms across the world.
Innovalight’s President and CEO, Conrad Burke, stated that they were chosen for the grant after a strict selection procedure. He added that DOE’s approval for their sophisticated silicon ink technology, which was entirely developed in the US, is highly beneficial for their expansion ideas.
The SunShot Initiative of DOE focuses on significantly reducing the net solar energy costs by 75% at various levels including utilities, residential and commercial before the completion of the decade, making solar energy highly cost-effective and enabling its wider utilization.
Source: http://www.innovalight.com