Search Menu
Photonics Media Photonics Buyers' Guide Photonics Spectra BioPhotonics EuroPhotonics Vision Spectra Photonics Showcase Photonics ProdSpec Photonics Handbook
More News

HelioVolt Stops Work as Investor Backs Out

Facebook Twitter LinkedIn Email Comments
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

Photonics Spectra
May 2014
BusinessChinaCIGSCopper Indium Gallium diSelenideHelioVoltinvestorJapanlight sourceslight speedopticsphotovoltaicResearch & TechnologysolarSouth KoreaTexasSK GroupBilly StanberyIHSSolar FrontierHanergyGlobal Solar Energy

back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2019 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA,

Photonics Media, Laurin Publishing
x Subscribe to Photonics Spectra magazine - FREE!
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.