BIG MONEY TO THIN FILM

After the Senate’s decision not to include incentives for New Energy in its economic stiumulus package, there is nothing to do but look toward the future. For big New Energy producers, that may very well mean making plans to halt development of new projects and begin thinking about what jobs and orders can be cut back. For NewEnergyNews, it means looking around for the new new thing.

Indications keep emerging: Thin film is coming. Ask most solar panel installers and they say it’s too expensive, too difficult to work with. But the big money keeps going to thin film companies.

Thin-film innovator Suniva picked up $5.5 million in venture capital last year and now is getting $50 million. One prediction sees the thin film industry growing to $14 billion annually by 2010.

Either the marketplace is seducing itself or something is about to change in solar energy.

The market has been growing steadily. (click to enlarge)

Solar firm, with $50M infusion, hopes to hire 100
Peralte C. Paul, February 4, 2008 (Atlanta Journal-Constitution)

WHO
Suniva Inc. (Ajeet Rohatgi, founder/Georgia Tech professor; John W. Baumstark, chairman/ceo), Venture capitalists (New Enterprise Associates (NEA), Goldman Sachs, H.I.G. Ventures)

WHAT
Suniva has secured $50 million in venture capital with which it will build a new plant and hire 100 people.

And it is expected to keep growing. (click to enlarge)

WHEN
Rohatgi founded Suniva in 2006. It expects to begin production at the new plant by October. It hopes to add another 100 new employees in 2009.

WHERE
Suniva Inc. is based in Atlanta, GA. It will build its new plant in the Atlanta area.
New York, Colorado, New Mexico, India and China attempted to lure Suniva away.

There are competing methods for formulating thin film. Suniva's is similar to this one. (click to enlarge)

WHY
- Suniva specializes in thin film solar materials.
- The infusion in venture capital is expected to allow Suniva to generate revenues of $10 million in 2008 and become profitable the following year with sales of $100 million.
- Suniva contends the extreme thinness of its technology creates higher efficiency.

The stuff that dreams are made of? (click to enlarge)

QUOTES
- Baumstark, Suniva chairman/ceo: "We are the brains or central engine of what will generate the power…By reducing the thickness of the cells, we cut costs that way."
- Harry Weller, NEA: "The technology that exists at Georgia Tech and the capability that exists under Ajeet's guidance is the world's best…What we're really doing with this round is we're creating a brand new industry in Georgia."