HelioVolt Stops Work as Investor Backs Out
HelioVolt, a developer and manufacturer of thin-film solar modules based on copper indium gallium diselenide (CIGS) technology, has suspended its photovoltaic (PV) initiatives because its major investor has backed out of the PV industry altogether.
SK Group of South Korea, which has invested more than $69 million in HelioVolt since the two companies entered into a relationship in 2011, has opted to stop pursuit of its global solar PV goals “for reasons related to their business strategy.”
HelioVolt is now investigating strategic alternatives that will allow it to continue its PV development and manufacturing. In the interim, however, it will discontinue operations and reduce its 127-employee workforce over the next two months.
Recent studies by analyst company IHS show that the PV industry could grow at double-digit rates in 2014, with the potential for installations to top 40 GW for the first time.
However, the CIGS solar industry has suffered in recent years as the PV market continues to be dominated by the less expensive crystalline silicon and thin-film cadmium telluride materials.
The key players of the few CIGS-based PV companies remaining are Japan’s Solar Frontier and China’s Hanergy. Many others have been forced out of business by the continuing drop in crystalline silicon and cadmium telluride module prices in recent years.
In 2012, HelioVolt had invested in a pilot manufacturing line, targeting its R&D efforts on delivering modules with efficiencies of 16 percent by 2014. These modules, which were partially backed by SK Group, were still under development when SK Group discontinued its partnership.
For more information, visit
www.heliovolt.net.
LATEST NEWS
- Exail Signs LLNL Contract, Partners with Eelume
Apr 26, 2024
- Menlo Moves U.S. HQ: Week in Brief: 4/26/2024
Apr 26, 2024
- Optofluidics Platform Keys Label-, Amplification-Free Rapid Diagnostic Tool
Apr 25, 2024
- DUV Lasers Made with Nonlinear Crystals Enhance Lithography Performance
Apr 25, 2024
- Teledyne e2v, Airy3D Collaborate on 3D Vision Solutions
Apr 24, 2024
- One-Step Hologram Generation Speeds 3D Display Creation
Apr 24, 2024
- Innovation Award Winners for Laser Technology Honored in Aachen
Apr 23, 2024
- Intech 2024: AI Arrives on the Shop Floor
Apr 22, 2024