DuPont Expands in Solar Energy with Acquisition of Innovalight

DuPont DD today announced that it has acquired Innovalight, Inc., a company specializing in advanced silicon inks and process technologies that increase the efficiency of crystalline silicon solar cells. The acquisition further strengthens DuPont's position as a clear leader in materials for the solar energy market, enabling a broader and more integrated photovoltaic materials and technology offering from DuPont. Financial terms of the acquisition were not disclosed. DuPont exceeded $1 billion in revenue from sales into the photovoltaic market in 2010, and has set a goal to reach $2 billion by 2014 based on continued growth supported by new innovations that improve solar module efficiency, lifetime and overall system costs. "Innovalight has very exciting technology that improves cell efficiency and DuPont can help expedite its adoption," said David B. Miller, president – DuPont Electronics & Communications. "DuPont and Innovalight share a commitment to innovation in materials that have a common purpose – to make solar energy more efficient and more affordable." Innovalight, located in Sunnyvale, Calif., has developed innovative proprietary silicon ink products, process technology and a pipeline of anticipated products. Silicon inks used in conjunction with DuPont™ Solamet® photovoltaic metallization pastes boost the amount of electricity produced from sunlight, enabling the production of superior Selective Emitter solar cells. According to industry estimates, Selective Emitter technology could represent 13 percent of crystalline silicon solar cell production by 2013 and up to 38 percent by 2020. "Innovalight brings in-depth knowledge of solar devices, silicon technology and Selective Emitter technology, and DuPont adds expertise in materials science, manufacturing capabilities and global market access," said Conrad Burke, founder – Innovalight. "Our offerings are complementary to one another, and together we will broaden and accelerate our ability to meet customer needs and address today's energy challenges with our continued innovations."