1. Home
  2. Articles posted by: Rona Fried (Page 1711)

SunPower Expands Silicon Supply Agreement

SunPower Corporation (Nasdaq: SPWR) has extended and expanded a major silicon supply agreement with a key supplier and partner, M.Setek Co., Ltd. M.Setek is a manufacturer of monocrystalline silicon ingots and wafers for the solar industry. SunPower extended its existing agreement with M.Setek by two years, through 2010. The new agreement increases M.Setek’s 2008 silicon supply to SunPower while offering the potential for additional supply in 2007. The value of the agreement over its five-year term is estimated to exceed $500 million. “SunPower is pleased to expand our relationship with M.Setek, one of our most valued partners,” said Tom Werner, CEO of SunPower. “The solar industry requires a reliable, high-volume silicon supply in order to maintain rapid growth. This agreement is a key element in SunPower’s silicon supply strategy.” “We are happy to announce the extension of our agreement with SunPower,” said Ritsuo Matsumiya, M.Setek’s President. “We are always striving to strengthen our customer relationships. As we plan to grow our silicon ingot manufacturing and polysilicon refining capacity, we see SunPower as an attractive partner due to their technology advantages and strong business prospects.” As previously announced, M.Setek is constructing its first polysilicon refinery, scheduled to begin operation in late […]

Read More

WorldWater Signs $1.3M Rooftop Solar Contract

Saint Joseph of the Palisades High School of West New York, N.J. has contracted with WorldWater to purchase electrical energy for 10 years generated by a solar electric system. The solar panel array will be installed on the school’s roof. Under WorldWater’s Alternative Clean Energy Services (ACES) plan, St. Joseph’s will not incur any start-up costs for the installation and the school will receive a 10% discount on their cost for power compared to their electric rate. The installation of the solar energy system at the school guarantees that the school will save money on electric costs immediately and on a long-term basis. The construction value of the project is $1.3 million. WorldWater & Power Corp. will design, install, own and maintain the solar energy system on St. Joseph’s roof. The school will remain connected to the electric grid and will receive power from both the utility and its solar rooftop unit. “We expect our solar power will offset approximately 50% of the school’s electricity and they will be buying that solar power at a 10% discount below their utility rate. Over the next 10 years, they will save a significant dollar amount for the school to put to other […]

Read More

WorldWater Signs $1.3M Rooftop Solar Contract

Saint Joseph of the Palisades High School of West New York, N.J., part of the Archdiocese of Newark, has contracted with WorldWater to purchase electrical energy for 10 years generated by a solar electric system. The solar panel array will be installed on the school’s roof. Under WorldWater’s Alternative Clean Energy Services (ACES) plan, St. Joseph’s will not incur any start-up costs for the installation and the school will receives a 10% discount on their cost for power compared to their electric rate. The installation of the solar energy system at the school guarantees that the school will save money on electric costs immediately and on a long-term basis. The construction value of the project is $1.3 million. WorldWater & Power Corp. will design, install, own and maintain the solar energy system on St. Joseph’s roof. The school will remain connected to the electric grid and will receive power from both the utility and its solar rooftop unit. “We expect our solar power will offset approximately 50% of the school’s electricity and they will be buying that solar power at a 10% discount below their utility rate. Over the next 10 years, they will save a significant dollar amount for […]

Read More

Innovalight Raises $7.5M for Silicon Ink Technology

Innovalight, Inc. has raised an additional $7.5 million in private equity financing. This Series B financing led by Harris & Harris Group, Inc., includes investment from existing investors Apax Partners, ARCH Venture Partners, Sevin Rosen Funds and Triton Ventures. Innovalight plans to employ this additional capital to accelerate the development of ultra-low cost, lightweight solar cells using a proprietary silicon ink-based technology. “We are honored to lead this round of funding for Innovalight as the company is addressing an important problem with an innovative solution,” said Dr. Daniel Leff, executive vice president and managing director at Harris & Harris Group, Inc. Dr. Leff will also join Innovalight’s board of directors. Today, over 90 percent of solar energy modules are made from crystalline silicon wafers that are costly to produce and in critical short supply because of competing demand from the semiconductor industry. “Today, solar energy represents a paltry two-hundredths of one percent of the total global electrical energy generated because current production methods are still too expensive,” said Conrad Burke, president and chief executive officer. “Innovalight is developing a technology that could ultimately reduce the cost of producing solar-generated electricity tenfold.” Innovalight was recently recognized as a 2006 Technology Pioneer […]

Read More

Innovalight Raises $7.5M for Silicon Ink Technology

Innovalight, Inc. has raised an additional $7.5 million in private equity financing. This Series B financing led by Harris & Harris Group, Inc., includes investment from existing investors Apax Partners, ARCH Venture Partners, Sevin Rosen Funds and Triton Ventures. Innovalight plans to employ this additional capital to accelerate the development of ultra-low cost, lightweight solar cells using a proprietary silicon ink-based technology. “We are honored to lead this round of funding for Innovalight as the company is addressing an important problem with an innovative solution,” said Dr. Daniel Leff, executive vice president and managing director at Harris & Harris Group, Inc. Dr. Leff will also join Innovalight’s board of directors. Today, over 90 percent of solar energy modules are made from crystalline silicon wafers that are costly to produce and in critical short supply because of competing demand from the semiconductor industry. “Today, solar energy represents a paltry two-hundredths of one percent of the total global electrical energy generated because current production methods are still too expensive,” said Conrad Burke, president and chief executive officer. “Innovalight is developing a technology that could ultimately reduce the cost of producing solar-generated electricity tenfold.” Innovalight was recently recognized as a 2006 Technology Pioneer […]

Read More