Usually when we’re talking about startups with thin-film solar cell technology, they’re working with copper indium gallium selenide (CIGS) or silicon. Sunovia, however, wants to follow in the footsteps of the $21 billion giant First Solar.
Both make thin-film cells based off cadmium telluride (CdTe), a substance that works well in solar cells but is also toxic. CdTe cells have also outstripped by the efficiency of CIGS cells, at least in laboratory conditions.
Part of what distinguishes Sunovia, at least according to its own statement, is an efficient and compact scheme for manufacturing that can produce 100 megawatts of cells a year from a 10,000 square foot facility. Other companies require substantially larger manufacturing areas.
Sunovia is planning to have a manufacturing line up and running within two years. Aside from its solar cell business, the company also has an LED lighting subsidiary called EvoLucia, which just completed a first installation.
The source of the $12 million funding was not disclosed. Sunovia says it has raised over $25 million to date. The company, based in Sarasota, Florida, is trade on the over-the-counter bulletin board as SUNV.
4 Comments
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Samantha Jacoby said:
If you’re interested in First Solar, you should check out the Renewable Energy Finance Forum-Wall Street, held June 18-19 in New York City. First Solar’s CEO, Mike Ahearn, will join representatives from LDK Solar, Applied Materials, and SunPower in a discussion about the future of the solar photovoltaics market. In addition, REFF brings 40 other high profile industry leaders to discuss topics such as wind energy, biofuels, market drivers, and more.
For more information, visit http://www.REFFWallStreet.com.
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Brice said:
2 years? FSLR will have solidified its monopoly to the point that Little(12 million?) Little thin film solar firms can only hope to be bought by FSLR. In the short term check out Ascent Solar (ASTI) who is partnered with NORSK HYDRO to bring thin film to construction materials. Of course there is the private firm NANOSOLAR backed by GOOGLE among others. But for now, buy FSLR in batches all the way to the bank. Disregard SUNOVIA–they are small time.
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Aravind said:
It looks like they have some patents through stake in EPIR and contracts/ties with NASA and Army. They need to commercialize the technology and do some high profile marketing to win contracts.
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Brice was wrong said:
Seems somebody stepped on Brice’s dick in the process of the big upswing in SUNV this last week.
