Prism Solar Technologies and The Solar Energy Consortium (TSEC) have reached an agreement on a US$3.6 million federal grant secured by Congressman Maurice Hinchey’s Office. As a result, Prism Solar will receive US$3,240,000 to manage a project to commercialize its solar bifacial ribbon cell technology that can be utilized with Prism Solar’s Holographic Planar Concentrator (HPC) technology.
The US$3.6 million is included in the fiscal year 2010 Defense Appropriations bill. The parties have reached agreement that the funds will be provided to TSEC for Prism, which will purchase equipment and engage in the R&D of a new PV bifacial ribbon cell.
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“This agreement between Prism and TSEC will support Prism’s development of a high efficiency, bifacial cell technology that complements Prism’s holographic planar concentrator which concentrates light onto solar cells,” said Rick Lewandowski, Prism’s President and Chief Executive Officer. “The project will enable an innovative cell technology that is light-weight and conformable, and therefore useful in off-grid applications such as those needed by the Department of Defense.”
While Prism Solar Technologies is planning to use the product in its second generation of modules, the military and other companies are also said to have shown an interest.