NREL green-lights Spire Semiconductor for Phase II of development of triple junction GaAs 42% efficiency “triathlon” concentrator cells.
BEDFORD, Mass.--(BUSINESS WIRE)--Spire Corporation (Nasdaq: SPIR), a global solar company providing capital equipment and turnkey production lines to manufacture photovoltaic (PV) cells and modules, announced that its wholly owned subsidiary, Spire Semiconductor, LLC, has successfully completed Phase I of its High Efficiency Concentrator Solar Cell program with the Department of Energy’s National Renewable Energy Laboratory (NREL) and has been notified the NREL will authorized Phase II of the program. Under the 18-month, $3.7 million cost share subcontract, Spire Semiconductor is developing technology to cost-effectively manufacture 42% efficient, 500 sun, concentrator solar cells for concentrator photovoltaic (CPV) systems.
“It validates our efforts toward developing a proprietary gallium arsenide (GaAs) concentrator solar cell that exceeds anything commercially available.”
Spire Semiconductor passed through the NREL Stage Gate Review, a go/no go decision point to validate the progression of the project and assure that progress meets contract objectives. These objectives include estimates of key performance parameters of competitive Levelized Cost of Energy (LCOE); annual manufacturing capacity potential; direct manufacturing cost; and cell Mean Time Between Failure (MTBF). PV cell performances of greater than 39% efficiency were achieved during Phase I.
“We are very happy to be given the go ahead with our program,” said Roger G. Little, Chairman and CEO of Spire Corporation. “It validates our efforts toward developing a proprietary gallium arsenide (GaAs) concentrator solar cell that exceeds anything commercially available.”
Mr. Little concluded, “The PV industry will continue to grow significantly this year and well into the future. CPV systems offer many advantages. With Spire’s strong position in the solar industry, the availability of our custom GaAs concentrator will put us in a good position to help our customers meet this market demand.”
About National Renewable Energy Laboratory
NREL develops renewable energy and energy efficiency technologies and practices, advances related science and engineering, and transfers knowledge and innovations to address the nation's energy and environmental goals.
About Spire Corporation
Spire Corporation, voted 2009’s Turnkey PV Manufacturing Line Company of the Year, is a global solar company providing advanced technology and capital equipment to manufacture photovoltaic (PV) devices and turnkey manufacturing lines.
Certain matters described in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-K and other periodic reports filed with the Securities and Exchange Commission.
