International Solar Electric Technology (ISET) will be jointly collaborating with Korea-based K&K Solar and the Yeungnam University of Korea. Although no specific collaboration details or financial terms were released, ISET commented that the signed memorandum of understanding (MOU) was aimed towards technology commercialization and advanced development, allowing ISET to continue the advancement of its thin-film CIGS solar panels.
Dr. Vijay Kapur, ISET’s CEO and president, expressed enthusiasm about the companies collaborating, stating that his is a “ground-breaking opportunity to combine ISET’s experience developing new solar technologies with Korea’s superior knowledge of high volume manufacturing.” He added that “the capabilities acquired in this collaboration will set a new course for global deployment of cost-efficient production lines and for installation of affordable photovoltaic systems.”
The MOU was signed at ISET’s facility in Chatsworth, California by Dr. Kapur, Youn-Sik Kim, president of K&K Solar, Dr. Jae Hak Jung, director of the Regional Innovation Center for Solar Cell & Module and Dr. Chinho Park, director of the Institute for Solar Energy Research and the Solar Cell Materials and Process R&D Workforce Cultivation Program. ISET’s Chatsworth facility is currently in pilot production of the company’s thin-film CIGS modules and is set to eventually expand production capacity to 30MW per year.