Home > Press > Illuminex Corporation Closes $500k Angel Financing Round
Illuminex currently uses silicon for novel photovoltaic technology development. Silicon is a stable semiconductor with controllable properties. It is material of choice for opto-electronic device applications. Currently, silicon technologies accounts for 94% of the photovoltaic industry. |
Abstract:
Nanomaterial firm closes $500K angel financing round to commercialize patented nanowire array based technologies for solar cells, lithium-ion battery anodes, and thermal management materials based on the company's nanowire array technology.
Illuminex Corporation, based in Lancaster, PA, recently closed a $500K financing round from undisclosed investors. Combined with the Company's multiple State and Federal research grants, this funding will provide over one year of operating runway for Illuminex to accelerate the development and commercialization of functional nanomaterials for commercial devices aimed at emerging alternative energy markets. These include lithium-ion batteries, heat pipes for thermal management, and photovoltaics for producing sustainable solar electricity. The Company is seeking strategic partnerships and additional funding.
Founded by nano-physicists from MIT, Illuminex is commercializing devices based on a platform nanowire array process technology. The Company has developed novel, cost-effective methods for manufacturing nanowire arrays on low-cost substrates using aluminum in a multi-functional capacity. The nanowires resemble bristles on a toothbrush, where each "bristle" is 1/1000th the thickness of a human hair and there are 1 billion "bristles" per square centimeter. The processes Illuminex utilizes to produce the nanowire arrays are readily scalable for mass production.
Company CEO Joe Habib states, "Illuminex's capabilities and methods for engineering nanowire arrays using numerous materials on diverse substrates is what makes the company unique. We are applying these techniques to create novel materials with unique functions by leveraging the small size, uniformity, and density of the nano-structures. These functional nanomaterials could be very important in developing sustainable energy solutions."
Illuminex has begun sampling copper-silicon nanocomposites for use as high capacity lithium ion battery anodes. The nanowires will allow high energy density with very low fade rates and the production techniques are conducive to large-scale, low-cost manufacturing.
Graphite, the most commonly used anode in lithium-ion batteries, has a limited charge capacity (372 mAh/g) that is particularly problematic for applications such as electric vehicles. Silicon has the highest known charge capacity (11 times greater than graphite), making it a highly attractive anode material. However, silicon expands (up to 400%) as it reacts with lithium and disintegrates from the stress when sufficient quantities are used, thus preventing the implementation of this important technology. Illuminex Cu-Si nanocomposite anodes allow silicon to be used by imparting structural support to the silicon with copper nanowires that act analogously to rebar in concrete, while imparting highly effective electrical exchange and added thermal stability.
Another device that Illuminex is prototyping is nanowire photovoltaic (PV) cells based on a dense array of silicon diode nanowires. The PV nanowire material has a theoretical efficiency of 35%, greater than bulk crystalline silicon (typically 20% efficient). Nanowire PV-based cells also use 1/100th the amount of silicon per unit PV cell area as silicon wafer-based cells, potentially offering a much lower $/KWh cost. Illuminex can fabricate the silicon nanowires on glass, metal, threads, or virtually any surface that can be coated.
Illuminex is also developing nanowire-based heat pipes that use copper nanowires as the wick material, replacing conventional sintered copper powder. The nanowire heat pipes currently have 30% lower thermal resistance than conventional wicks and perform at input heat fluxes exceeding 350 W/cm, where sintered powder fails catastrophically. Modified Illuminex nanowire wicks could improve heat pipe efficiency by 5 times conventional sintered powder heat pipes at comparable cost. Illuminex is targeting heat pipe markets for servers/PCs, microprocessors, military and industrial use, and in broader markets for nanowire based thermal interface materials. For additional information, contact George Lauro, Member, Illuminex Board of Directors and Partner, Alteon Capital Partners.
####
About Illuminex
Illuminex was founded in 2003 by Dr. Joe Habib, an MIT Fellow active in nanotechnology ventures for over a decade. Headquartered in Lancaster, PA, Illuminex has 10 employees. Its facilities include three fully equipped research laboratories totaling 5500 square feet, including a brand new CVD facility. Illuminex fabricates nanowires made from a wide range of materials in diverse geometries on numerous substrates. Its near-term products target energy verticals, specifically silicon nanowire arrays for photovoltaics, and copper-silicon nanocomposites for lithium ion battery anodes and copper nanowires for thermal/heat pipes. Illuminex has developed significant patented intellectual property in material formulations, manufacturing methods, and device applications. It has 11 patents pending and 1 patent issued (US 7713849). For more information, visit www.illuminex.biz.
For more information, please click here
Contacts:
George Lauro
Phone: 408-688-1982
Copyright © Illuminex
If you have a comment, please Contact us.Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Related News Press |
News and information
Simulating magnetization in a Heisenberg quantum spin chain April 5th, 2024
NRL charters Navy’s quantum inertial navigation path to reduce drift April 5th, 2024
Discovery points path to flash-like memory for storing qubits: Rice find could hasten development of nonvolatile quantum memory April 5th, 2024
Investments/IPO's/Splits
Daikin Industries becomes OCSiAl shareholder July 27th, 2021
INBRAIN Neuroelectronics raises over €14M to develop smart graphene-based neural implants for personalised therapies in brain disorders March 26th, 2021
180 Degree Capital Corp. Issues Second Open Letter to the Board and Shareholders of Enzo Biochem, Inc. March 26th, 2021
Announcements
NRL charters Navy’s quantum inertial navigation path to reduce drift April 5th, 2024
Discovery points path to flash-like memory for storing qubits: Rice find could hasten development of nonvolatile quantum memory April 5th, 2024
Energy
Development of zinc oxide nanopagoda array photoelectrode: photoelectrochemical water-splitting hydrogen production January 12th, 2024
Shedding light on unique conduction mechanisms in a new type of perovskite oxide November 17th, 2023
Inverted perovskite solar cell breaks 25% efficiency record: Researchers improve cell efficiency using a combination of molecules to address different November 17th, 2023
The efficient perovskite cells with a structured anti-reflective layer – another step towards commercialization on a wider scale October 6th, 2023
Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage
What heat can tell us about battery chemistry: using the Peltier effect to study lithium-ion cells March 8th, 2024
A battery’s hopping ions remember where they’ve been: Seen in atomic detail, the seemingly smooth flow of ions through a battery’s electrolyte is surprisingly complicated February 16th, 2024
Grants/Sponsored Research/Awards/Scholarships/Gifts/Contests/Honors/Records
Discovery points path to flash-like memory for storing qubits: Rice find could hasten development of nonvolatile quantum memory April 5th, 2024
Chemical reactions can scramble quantum information as well as black holes April 5th, 2024
Solar/Photovoltaic
Development of zinc oxide nanopagoda array photoelectrode: photoelectrochemical water-splitting hydrogen production January 12th, 2024
Shedding light on unique conduction mechanisms in a new type of perovskite oxide November 17th, 2023
Inverted perovskite solar cell breaks 25% efficiency record: Researchers improve cell efficiency using a combination of molecules to address different November 17th, 2023
Charged “molecular beasts” the basis for new compounds: Researchers at Leipzig University use “aggressive” fragments of molecular ions for chemical synthesis November 3rd, 2023
The latest news from around the world, FREE | ||
Premium Products | ||
Only the news you want to read!
Learn More |
||
Full-service, expert consulting
Learn More |
||