news digest ♦ Solar
The company also wishes to announce that it has entered into a term sheet with the University of Connecticut to restructure its license agreement of April 8th, 2003. The parties confirmed that the licenses granted pursuant to the License Agreement are in full force and are irrevocable.
While the maintenance fee provisions of the License Agreement remain unchained, the parties agreed to restructure the payment provisions by reducing the royalty payment to three percent of amounts received from unaffiliated third parties in respect of the exploitation of the Intellectual Property defined in the License Agreement.
In consideration for the favourable restructuring of the royalty terms, the Company will provide the University 2,000,000 common shares, subject to approval by the TSX Venture Exchange; trading of these shares is restricted until May 31st, 2016. The restructuring is subject to the final execution of the formal amendment to the License Agreement.
Copetti states, “I am extremely pleased with the University of Connecticut’s vote of confidence in POET, exhibited by their taking an equity stake in the Company as an alternative to a higher potential royalty revenue stream. At the same time, their decision will greatly enhance the Company’s ability to monetise the POET technology and create shareholder value.”
The company remains on track with its technology roadmap, and will shortly be providing updates to all stakeholders on progress and achieved milestones to date.
POET Technologies is the developer of the POET platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer. With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory.
Siva Power CIGS cells approach 19 percent efficiency
Former NREL director Charlie Gay has joined Siva Power’s CIGS PV team
Siva Power has achieved near record efficiency with its 132
www.compoundsemiconductor.net March 2014 CIGS panel technology.
The firm’s product has achieved nearly 19 percent efficiency in a record time of just ten months.
In addition, the company welcomes leading solar energy expert, Charlie Gay, Ph.D., to its Technical Advisory Board.
Gay joins Rommel Noufi, Ph.D., John Benner, and Markus Beck, Ph.D. to support Siva Power as it creates a profitable path to sub-$0.40 per watt solar power and unprecedented production scale.
Siva Power repositioned itself for success in February 2013 by transitioning to CIGS thin-film technology. In December 2013, the National Renewable Energy Laboratory (NREL) certified Siva Power as achieving a laboratory efficiency of 18.8 percent - less than a year after the company shifted its technology focus.
In achieving 18.8 percent efficiency, Siva Power has nearly equalled accredited international research institutes such as NREL, the Swiss Federal Laboratory for Materials Science and Technology (EMPA) and ZSW Centre for Solar Energy and Hydrogen Research, all of which have engaged in research and development (R&D) on CIGS for upwards of 20 years.
Siva Power also surpasses the majority of solar companies using CIGS technology, many of which have taken more than five years to achieve this degree of panel efficiency. Much of this success is directly attributable to the deposition approach that Siva Power has selected.
All CIGS efficiency records over the past two decades have been achieved using three-stage co-evaporation. This is the method that Siva Power has elected to scale to high-volume manufacturing.
“The Siva Power team’s rate of progress in demonstrating these high efficiencies is unprecedented and is further proof that our technology, combined with an unrivaled manufacturing plan, is the most viable pathway to a profitable and sustainable solar industry,” says Brad Mattson, Siva Power CEO. “This efficiency milestone speaks to our team’s expertise, and we welcome Charlie’s knowledge and experience as a critical component toward helping us achieve even more.”
With more than 30 years of solar industry experience,. Gay is an internationally recognised pioneer in photovoltaics (PV). In 2013, Gay was elected to the U.S. National Academy of Engineering, one of the highest professional honours accorded engineers. At present, Gay is co-founder and president of Greenstar
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