Illustration 19276996 / Dirk Erck / Dreamstime
Iillustration 19276996 / Dirk Erck / Dreamstime
Illustration 60886103 / Kheng Ho To /Dreamstime

GE invests in new solar technology

March 1, 2011
GE Energy Financial Services and VantagePoint Venture Partners have joined North Bridge Venture Partners, Hanwha Chemical and Ventizz Capital Partners in an $8.4 million extension of a $20 million funding round backing 1366 Technologies, Lexington, ...

GE Energy Financial Services and VantagePoint Venture Partners have joined North Bridge Venture Partners, Hanwha Chemical and Ventizz Capital Partners in an $8.4 million extension of a $20 million funding round backing 1366 Technologies, Lexington, Mass., which has developed a radically new process to create silicon wafers for PV panels.

1366 Technologies' process reduces the current cost of manufacturing solar panels by 65 percent. Manufacturing solar cells involves four capital-intensive steps that waste up to 50 percent of the high-cost, ultra-pure silicon raw material. The new “direct wafer” approach reduces the four-step process to one and produces wafers directly from molten silicon. Details