Friday, February 25, 2011

FW: Solar Junction's Commercial-Ready CPV Cell Achieves 41.4% Efficiency, Confirms NREL; Only CPV cell supplier to advance to post-selection due diligence in DOE Loan Guarantee ProgramBusiness WireFebruary 15, 2011 Solar Junction, a developer of high eff

Subject: Solar Junction's Commercial-Ready CPV Cell Achieves 41.4%
Efficiency, Confirms NREL; Only CPV cell supplier to advance to
post-selection due diligence in DOE Loan Guarantee ProgramBusiness
WireFebruary 15, 2011 Solar Junction, a developer of high efficie

http://www.electroiq.com/index/display/pv-wire-news-display/1360322493.html

Solar Junction's Commercial-Ready CPV Cell Achieves 41.4% Efficiency,
Confirms NREL; Only CPV cell supplier to advance to post-selection due
diligence in DOE Loan Guarantee ProgramBusiness WireFebruary 15, 2011 Solar
Junction, a developer of high efficiency multi-junction cells for the
concentrated photovoltaic (CPV) market, today announced another swift leap
forward in cell efficiency. Just one month after achieving 40.9 percent
efficiency, the Company has now reached 41.4 percent on a production cell;
both milestones have been validated by the National Renewable Energy
Laboratory (NREL). The significance of the advancement belies the speed at
which the Company is hitting efficiency milestones for a standard
commercial-ready production cell, moving the industry beyond champion cell
gains. Concurrently, the Company is on a short list of finalists chosen for
post-selection due diligence within the Department of Energy's (DOE) Loan
Guarantee Program (LGP). The grant would support the commissioning of Solar
Junction's high-volume, 250-MW capacity manufacturing facility co-located
with its headquarters in San Jose, California. Solar Junction expects to
begin shipping commercial cells this year."As the debate over PV versus CPV
continues, we contend that with double the efficiency of traditional
photovoltaics, the CPV sector is entering a high-growth period," said Jim
Weldon, CEO of Solar Junction. "These recent NREL results reflect our
continued commitment to efficiency gains and validate the advantages of our
A-SLAM(TM) technology for the CPV sector."Solar Junction's cell, which
incorporates the proprietary adjustable spectrum lattice-matched, A-SLAM(TM)
technology, accelerates the multi-junction cell annual efficiency increase
in a customer-integrable and commercial form factor. The company's cells
deliver market-leading efficiency both in a 5.5 mm x 5.5 mm aperture area
form factor, the dominant cell for CPV module manufacturers, as well as in a
variety of other larger and smaller sizes.The LGP post-selection due
diligence comes a year after Solar Junction announced receiving a PV
Incubator contract from the DOE. The efficiency gains of its solar cells
relate to the work as part of the Incubator subcontract with NREL. Once the
LGP post-selection due diligence process is complete, Solar Junction will
ramp its in-house manufacturing capacity to meet the needs of CPV module
manufacturers.About Solar JunctionSolar Junction is a manufacturer of high
efficiency III-V multi-junction solar cells based on lattice-matched 1eV
materials. The Company is dedicated to providing the industry's highest
efficiency solar cells to enable CPV as a cost effective energy solution.
Founded in 2007, Solar Junction is headquartered in San Jose, California.
Investors include New Enterprise Associates, Draper Fisher Jurvetson and
Advanced Technology Ventures. For more information, please visit
www.sj-solar.com . Copyright 2011 Business Wire, Inc. Business Wire Wire
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