news digest ♦ Solar
technology that delivers unprecedented levels of electrical energy per unit area.”
Welser further stated “Advanced light trapping structures are needed to improve the current output and efficiency of a variety of different thin film technologies. Magnolia’s nanostructured optical coatings, developed in collaboration with Prof. Fred Schubert, can both minimize reflection losses on the front surfaces of thin film solar cells, and recycle photons that pass through the device back into the absorbing semiconductor thin film layers.”
Ashok K. Sood, President and CEO of Magnolia Solar Corporation, commented, “We are delighted to receive this innovative product development contract from NYSERDA. Commercially viable renewable energy has tremendous potential benefits for New York State in terms of security, economic growth, and the environment. In particular, photovoltaic (PV) technologies that convert sunlight directly into electricity hold great promise as a sustainable, environmentally friendly energy source for the 21st century. We are committed to growing in the Albany region, supported by the world-class intellectual and technological infrastructure at RPI and CNSE’s Albany NanoTech Complex.” Sood continued, “Magnolia Solar’s mission is to provide environmentally responsible and low-cost solutions for the solar power industry, and to be an integral part of New York’s green energy future.”
Magnolia Solar was founded in 2008 to develop and commercialize revolutionary new thin film solar cell technologies that employ nanostructured materials and designs. Magnolia’s transformational approach to thin film solar cells is based upon breakthrough discoveries in nanostructured solar cell design and optical thin film engineering. With this approach,
Magnolia is aiming to revolutionize the power- generating capability of photovoltaic systems by developing low cost, thin film technology that delivers unprecedented levels of electrical energy per unit area. Magnolia is developing a variety of thin film solar cell products with enhanced performance for both civilian and military applications.
Nanostructured materials enable new device concepts that can radically enhance the operation of traditional semiconductor structures. Magnolia
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has unique insights into these advanced device designs and intellectual property associated with the nanomaterials necessary to build them. Both higher current and voltage outputs are expected from thin film solar cells that combine Magnolia’s unique material structure with nanoengineered optical coatings that can scatter normally incident light laterally into the device.
Magnolia’s technology also has the ability to capture a larger part of the solar spectrum to produce high efficiency solar cells, and incorporates a unique nanostructure-based antireflection coating technology to further increase the solar cell’s efficiency, thereby reducing the cost per watt. Magnolia Solar technology targets electrical power generation applications, such as power for electrical grids and distributed power applications ranging from commercial and residential lighting to specialized military applications.
Ascent Solar Appoints New Board Member
Norsk Hydro Produksjon AS, the Company’s largest stockholder has appointed Hans Olav Kvalvaag, pursuant to a stockholder’s agreement between the Company and Norsk Hydro.
Ascent Solar Technologies, a developer of state- of-the-art flexible thin-film solar modules, has appointed of Hans Olav Kvalvaag to its Board of Directors to replace Einar Glomnes, who resigned from the Board effective December 21, 2010.
Kvalvaag was designated for appointment to the Board by Norsk Hydro Produksjon AS, the Company’s largest stockholder, pursuant to a stockholder’s agreement between the Company and Norsk Hydro.
Glomnes, the prior Board designee of Norsk Hydro, was recently promoted to Vice President Sales Europe and has assumed an expanded role with additional commitments within Norsk Hydro. As such, he is no longer able to devote adequate attention to his Board position.
Kvalvaag joined Norsk Hydro in 2006 within its New and Alternative Energy group. He is currently part of Norsk Hydro’s Corporate Business
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