Innovalight gets $3.4M from DOE
Innovalight Inc. said Friday that the U.S. Department of Energy is putting $3.4 million into its funding pool.
Sunnyvale-based Innovalight, which is privately held, sells silicon ink and advanced solar cell process technology.
The company said its process allows for a simple upgrade to solar cell manufacturing lines to boost the performance of solar cells and lower production costs.
"After a hyper competitive selection process, we are thrilled that we were selected for funding by the U.S. Department of Energy," said Conrad Burke, president and 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," he added.
The DOE's SunShot Initiative aims to decrease the total costs of solar energy at the utility, commercial and residential levels by 75 percent before the end of the decade.
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