Chinese solar company Yingli Green Energy (NYSE: YGE) announced that it has signed a technology, research and production collaboration agreement with Innovalight, Inc., a company selling a platform of silicon ink-based solar cell materials and technology.
By collaborating with Innovalight, Yingli Green Energy said it expects to raise the average efficiency of the multicrystalline cells produced on its commercial production lines.
California-based Innovalight manufactures a proprietary silicon ink and licenses a platform process for upgrading production lines. The company recently signed a three-year agreement with Yingli competitor JA Solar (Nasdaq: JASO). It also raised $18 million in Series D funding in January 2010.
Yingli Green Energy holds the brand Yingli Solar. Earlier this month the country secured credit from the state-owned China Development Bank (CDB) for up to RMB 36 billion (US$5.32 billion). The vertically integrated company is rapidly ramping up production and marketing efforts to become a worldwide brand.
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