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Plextronics, Inc. announced today that its organic photovoltaic technology achieved a world record in the conversion of solar light to power efficiency. The company's result of 5.4 percent establishes a new world record for single layer organic solar cells as certified by the National Renewable Energy Laboratory (NREL), in Golden, Colorado.
Troy Hammond, vice president of products for Plextronics, said that the company began its organic photovoltaic development program less than two years ago, with the support of the Pennsylvania Energy Development Authority.
"Today's world-record performance demonstrates the rapid pace at which our technology is progressing," said Hammond. "We look forward to continuing this advancement until we have enabled low-cost solar cell products with our Plexcore(R) ink system."
According to Shawn Williams, vice president of technology at Plextronics, "NREL is the nation's primary laboratory for renewable energy R&D, and to have their certification of our technology is absolutely vital. Most importantly, in the course of setting the world record, we've also identified clear pathways to further improve our technology."
Plexcore(R) ink systems for organic photovoltaic cells enable the low-cost printing of photo-active and charge carrier layers, which together convert light to power in the organic photovoltaic cell. The ability to print organic photovoltaic cells on glass or plastic drastically reduces the cost of energy compared to silicon solar cell technology. Specifically, Plextronics' technology has the potential to reduce the cost of solar cells below the commercially important threshold of $1 per watt, which is a reduction of up to five times that of crystalline silicon-based solar energy systems.
About Plextronics, Inc.
Plextronics, Inc. is a leading innovator of technology for printed electronics. The printed electronics market comprises next-generation light, power and circuitry products, including flexible displays, plastic solar cells and organic RFID tags. The market for printed electronics was approximately $1 billion in 2006 and is expected to exceed $300 billion within 20 years.
With a company vision of enabling 15 billion printed electronic devices by 2015, Plextronics is creating technology capable of commercial-scale performance and manufacturability. The company's device design, process technology and Plexcore(R) branded inks enable the formation of active electrical layers - the key drivers of printed electronics.
Plextronics was founded in 2002 as a spinout from Carnegie Mellon University, based upon conductive polymer technology developed by Dr. Richard McCullough. Over the past five years, Plextronics' team of scientists has refined and further developed this technology to deliver exceptional performance for printed electronics.
Some of the company's recent honors include: 2007 Red Herring Top 100 Company, 2006 Wall Street Journal Technology Innovation Awards Runner-Up, 2006 NREL Clean Energy Entrepreneur of the Year, the 2006 Organic Semiconductor Industry Awards Start-Up of the year, and Top 50 Nanotechnology Start-Up by Lux Research.
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