Plextronics $1.0 Million for Plexcore PV “Solar Cell Acceleration”
The Pennsylvania Energy Development Authority (PEDA) today awarded Plextronics $1 million in a grant/loan combination to accelerate the development of Plexcore™ PV. Plexcore PV is an active layer p-type semiconductor that will be used to "print" organic solar cells. This is Plextronics' second award from PEDA.
With this award, Plextronics will leverage its Plexcore™ technology platform to drive solar cell performance. Plexcore PV is a semiconductive polymer that can strongly absorb the sun's light and generate the electric charges required to function as a solar cell. Product development efforts are focused on increasing both the efficiency and lifetime of the solar cell device.
The world is seeking alternative sources of energy, according to Plextronics, especially renewable energy that break through current functional and cost barriers. This need is heightened by the rapidly increasing cost and environmental impact of the world's reliance on fossil fuels. Solar cells based on Plexcore PV can be lightweight and flexible, eliminating the functional barriers of existing technology. Hence, initial products will power mobile electronics and provide "off-grid" power. When the efficiency and lifetime are improved and the cost performance ratio is below $1/watt, Because Plexcore PV is a solvent based ink that can be printed using conventional printing process, this cost point becomes achievable, says the company.
"Fostering the development of alternative energy sources not only helps to cut pollution and improve environmental quality, but it also gives Pennsylvania a commanding edge in the renewable energy market, allowing for more opportunities in technology development and job creation," DEP Secretary Kathleen A. McGinty said. "Governor Rendell is investing in companies like Plextronics to enable solar power to become a real player in the energy sector. Plextronics' groundbreaking work in materials innovation offers another alternative to silicon that is expensive and limited in supply, making solar more affordable and accessible for a growing market."
"Solar energy has an opportunity to reduce energy costs, extend access to the millions of households presently without electricity, reduce reliance on fossil fuels and help meet environmental objectives. Pennsylvania is joining other leading states such as California and Massachusetts at the forefront of renewable energy innovation. We are excited that the Commonwealth has taken such a proactive position to develop new and innovative alternative energy resources," stated Andrew Hannah, Plextronics' Chief Executive Officer. "In addition, as we work toward this ambitious - yet achievable - goal of cost-effective solar energy, consumers will benefit in the short run from the low cost, flexible and light weight solar cells that will enable a new generation of mobile products," he added.