VENTURE FUNDING TO OHIO SOLAR THIN FILM

from Wikipedia: “The second generation of photovoltaic materials is based on the use of thin-film deposits of semiconductors...the advantage of using a thin-film...was...reducing the mass of material required for cell design. This contributed to a prediction of greatly reduced costs for thin film solar cells. There are currently (2007) a number of technologies/semiconductor materials under investigation or in mass production. Examples include Amorphous silicon, Polycrystalline silicon, micro-crystalline silicon, Cadmium telluride, copper indium selenide/sulfide. Typically, the efficiencies of thin-film solar cells are lower...but manufacturing costs are also lower, so that a lower cost per watt can be achieved. Another advantage of the reduced mass is that less support is needed when placing panels on rooftops and it allows fitting panels on light materials or flexible materials, even textiles.”

UT solar energy company receives $7M investment
Jenni Laidman, July 12, 2007 (Toledo Blade)

WHO
Emerald Technology Ventures (Markus Moor, sokesman), NPG Energy Technology Partners (Chris Sorrells, managing director), MWOE Solar Inc. (Xunming Deng, University of Toledo physics professor, and shareholder)

WHAT
Emerald Technology and NPG Energy have put up $7 million in venture capital to fund MWOE Solar’s pilot demonstration of a high-volume, low-cost method of making solar cells on a paper-thin stainless steel substrate.
thin film: soon you'll be wearing it

WHEN
- 2008: Full production.
- 2010-11, approximately: 100 megawatts

WHERE
- Emerald Technology Ventures is a Swiss company.
- NPG Energy Technology Partners is based in Washington, D.C.
- MWOE Solar Inc. is based in Toledo, Ohio. It has been on the University of Toledo campus but will relocate.

WHY
- MWOE will expand its workforce from 18, which it has afforded by $3.5 million in previous grants, to 40, mostly physicists and engineers.
- The MWOE solar cells will be lightweight and flexible, reducing materials and installation costs. They will first be used in electronic chargers and rooftop installations.
a thin film schematic (click to enlarge)

QUOTES
- Deng: “[The investment] places us in a strong position to develop and demonstrate a new manufacturing process that could drive down the cost [of solar cell manufacturing]…We won't be one of the biggest, but it makes us a player…”
- Sorrells: “We were impressed by MWOE’s technology – a company that can produce solar modules at grid competitive prices which are targeted at the fastest growing part of solar - grid-connected, building integrated PV systems – is a very attractive investment opportunity…In addition, the opportunity to partner with Dr. Xunming Deng, a globally recognized authority in thin film silicon based photovoltaics, was another key reason for our investment…”
- Moor: “It was the combination of a proven technology, a sound low-cost product proposition and a very capital efficient production expansion which attracted us to MWOE Solar…Based on its proprietary technology, MWOE Solar is able to differentiate itself and its products in a market which is becoming more crowded and competitive…”