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MASSACHUSETTS SOLAR ENERGY NEWS
MIT PROFESSOR LAUNCHES COMPANY WITH GOAL TO IMPROVE SILICON SOLAR CELL EFFICIENCY June 12, 2008 - Based on information on the 1366 Technologies website
Massachusetts Institute of Technology Professor Ely Sachs has founded a solar company that seeks to improve silicon solar cell efficiency by 25%. The company is a spin-off of MIT and has been named 1366 Technologies. The launch comes after Sach's team won a competition with four other solar researchers at Greentech Media's PV Annual 2008 Conference near Boston. The start-up has so far raised $12.4 million in funding from North Bridge Venture Partners and Polaris Venture Partners. Professor Sachs has been recognized as the developer of "String Ribbon" Solar Manufacturing Technology, which helped bring global investment attention to Evergreen Solar in recent years. The new company will work on reducing costs for PV systems to a level that will compare with coal-based electricity. On the 1366 Technologies website Sachs states, "The science is understood, the raw materials are abundant and the products work. All that is left to do is innovate in manufacturing and scale up volume production and that's what we intend to do."
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