Wednesday, November 10, 2010

HelioVolt Extends Research Deal With NREL

Austin-based Heliovolt, the heavily backed developer of thin film photovoltaic technology, said today that it is extending its Cooperative Research and Development Agreement (CRADA) with the Department of Energy's National Renewable Energy Laboratory (NREL). Heliovolt is jointly developing CIGS manufacturing technology with NREL. Financial details of the extended deal were not disclosed. HelioVolt is backed by over $140M in venture financing. The firm is looking to replace the need for vacuum deposition in the thin-film production process, which it expects will be less capital intensive, offering lower costs of manufacturing.