DuPont Acquires Innovalight to Expand Solar Business
DuPont announced that it has acquired Innovalight, Inc., a company specializing in advanced silicon inks and process technologies to increase the efficiency of crystalline silicon solar cells. DuPont states that the acquisition further strengthens its position as a clear leader in materials for the solar energy market, enabling a broader and more integrated photovoltaic materials and technology offering from DuPont. Financial terms of the acquisition were not disclosed.
DuPont exceeded $1 billion in revenue from sales into the photovoltaic market in 2010, and 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.