September 19, 2007 – Vol. 12 No.26

GE to Invest in PrimeStar Solar.

GE has reached an agreement to acquire a minority equity interest in the emerging solar thin-film technology and manufacturing company.

PrimeStar Solar, of Golden, Colorado, was formed in June 2006 to develop and commercialize cadmium telluride (CdTe) thin film photovoltaic modules.  The company has 31 employees, including a core management team with more than 100 years of thin-film equipment and process experience.

“PrimeStar Solar is excited to work with GE to accelerate our plans for large-scale commercialization of low-cost, high efficiency solar technology,” said Brian Murphy, chief executive officer of PrimeStar.

In June of this year, the US Department of Energy (DOE) awarded PrimeStar $3 million to scale up world record CdTe Cell technology.

In February, the National Renewable Energy Laboratory (NREL) and PrimeStar signed a $870,000 cooperative research and development agreement to transition NREL’s leading cadmium telluride (CdTe) photovoltaic (PV) technology to commercial module production. This technology has been used to produce a world record cadmium telluride photovoltaic cell efficiency of 16.5%.

Solar power is also among the renewable energy technologies that play a key role in GE’s environmental business initiative ecomagination. Under ecomagination, launched in 2005, GE will invest $1.5 billion annually in research in cleaner technologies by 2010.  (9/19/07)

Links:

GE Energy http://www.ge.com/energy

PrimeStar Solar http://www.primestarsolar.com

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