DuPont acquires solar-cell innovator Innovalight

DuPont has boosted its position in the solar energy market with the acquisition of  Innovalight, a company that specializes in advanced silicon inks and process technologies that increase the efficiency of crystalline silicon solar cells.

Financial terms of the deal were not disclosed.

DuPont reported more than $1 billion in revenue from sales into the photovoltaic market in 2010. It has set a goal to reach $2 billion by 2014 based on continued growth supported by new innovations that improve solar module efficiency, lifetime and overall system costs.

“Innovalight has very exciting technology that improves cell efficiency and DuPont can help expedite its adoption,” said David B. Miller, president of DuPont Electronics & Communications.

Innovalight has developed proprietary silicon ink products, process technology and a pipeline of anticipated products. Used in conjunction with DuPont’s Solamet photovoltaic metallization pastes, silicon inks can boost the amount of electricity produced from sunlight, enabling the production of more efficient “selective emitter” solar cells, according to DuPont.