The US Department of Energy has selected Innovalight for $3.4 million of funding as part of the agency's SunShot initiative. The funds will go toward efforts to accelerate the development and production of the company's silicon ink material and processes for high-efficiency solar cells at its operations in Sunnyvale in Northern California's Silicon Valley.
“After a hypercompetitive selection process, we are thrilled that we were selected for funding by the U.S. Department of Energy,” said Conrad Burke, president/CEO of Innovalight. “This endorsement from the DOE for our innovative silicon ink technology, which was invented and is exclusively manufactured here in the United States, is very timely for our expansion plans.”
The goal of the SunShot Initiative is to dramatically cut the total costs of solar energy at the utility, commercial, and residential levels by 75% before the end of the decade, making solar energy cost-competitive with conventional forms of electricity without subsidies and enabling widespread deployment.
Innovalight has already inked deals with a number of prominent PV cell manufacturers, including JA Solar, Yingli, JinkoSolar, and Motech. The company has also benefited from DOE funding in the past, including a 2008 award from the agency's photovoltaic technology incubator program.