Solexant's nanocrystal solar technology receives USD$41.5 million

Solexant utilizes an “extremely capital efficient ‘roll-to-roll’ manufacturing technique” to produce what it says is the industry’s first nanocrystal ultrathin film solar cell.

Developed at Lawrence Berkeley National Lab (LBNL) by Dr. Paul Alivisatos and his team, Solexant’s printable nanocrystal technology platform can produce flexible thin films using a variety of materials through a "fast and simple" deposition process.

Solexant’s first commercial products will be based on printed cadmium telluride (CdTe) nanocrystals. The company plans to commercialize solar cells based on other higher efficiency printed nanocrystal materials over the next few years.

"Solexant’s innovative printed nanocrystal technology platform has the potential to deliver the lowest cost per watt in the solar industry," said Damoder Reddy, CEO of Solexant.

"During these uncertain economic times, our cost-effective and rapidly scalable manufacturing process attracted new investors, while retaining strong support from our existing investors. The expertise from the new investors and additions to the board will strengthen Solexant’s core team and help foster success as we move from R&D toward the commercialization phase."