The solar industry is still in its infancy. New some ideas, inventions, and creativity are the rule as opposed to the exception. With that said, an exciting new solar power engineering has recently been introduced. The new technology isn’t in regards to a new mousetrap, but alternatively, an innovative process to make these mousetraps cheaper and more efficiently. In this informative article, we will investigate the organization and people in charge of the brand new idea. We may also examine the strategy and the entire affect to the solar and green power sector.
The company is 1366 Technologies- This NRG Steering Wheels little start-up was created in 2008 and is located in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Frank van Mierlo. Emmanuel Sachs is just a former MIT teacher and has a extended history of modern ideas. He’s the designer of the line lace photovoltaic process which was commercialized by Evergreen Solar. Sachs can also be attributed to be a co-inventor of the 3-D printing process that could create objects from the computer model. Emmanuel Sachs is currently the Main Technology Specialist and Frank van Mierlo is today’s CEO. Former Department of Energy Secretary Stephen Chu statements that 1366 Systems is one of the accomplishment reports of the Federal green power program called ARPA-E. Next, we are going to explore the engineering that the company has developed.
1366 Systems lately opened a 25 megawatt exhibition seed in Bedford, Mass. to produce photovoltaic cells. The business claims to have a better process for the production of PV cells. The existing business common is to cut the wafers from a big stop of plastic material. This benefits in the wastage of 50 % of the material. 1366 Technologies wants to cast the multicrystalline wafers by having an automated process. A common around 17 percent efficiency will stay the same, but the new method will result in a 50 to 65 per cent manufacturing cost-savings. This may allow them to cut prices by an revolutionary production process as opposed to a growth in power effiencies. Today we shall examine their funding places and partnerships.
The company has ideas to scale-up their 25 megawatt seed to a 1 gigawatt facility. To date, the business has increased 46 million in funding from different venture money groups. These include North Bridge Venture Associates, Polaris Opportunity Companions, and others. Funding partners also contain NRG Power and Hanhwa Solar. They’ve also secured a Division of Energy loan for 100 million. The estimated price of the 1 gigawatt seed is 200 million. The organization seems to have organized acceptable economic help for his or her endeavor. In our conclusion, we shall examine the possible impact to the solar industry using this new process.
1366 Systems isn’t a financial achievement yet. They should resolve any issues related to their new production processes. They’ll also have to demonstrate they could really produce a lower-cost and similarly efficient product. Opposition is intense in the solar field and there is currently excess manufacturing capacity. It has depressed charges for PV cells and can make it more burdensome for 1366 Technologies to provide on the promise. However, the solar power engineering is interesting, and a fresh and impressive idea.
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