GreenVolts Secures $500K Contract With DOE

f?id=49beb532796c7af0006cfc7d

GreenVolts, a San Francisco based solar start up, has secured a $500,000 contract with the Department of Energy. The company will develop solar technology designed by the National Renewable Energy Laboratory (NREL). The company will also licence the technology. This is a two year deal.

That’s the simple explanation of the deal. Here’s Greentech Media who has the minutiae:

The NREL technology is called inverted metamorphic multijunction (IMM) Solar cell, which has three layers of active materials for converting sunlight into electricity. Last summer, NREL researchers reported that they were able to improve the performance of their IMM solar cell so that it can convert 40.8 per cent of the concentrated sunlight (by 326 times) that hits it into electricity. The IMM solar cell is made up of two layers of gallium indium arsenide and one layer of gallium indium phosphide (see this graphic).

NREL researcher Mark Wanlass invented the original IMM solar cell design, which won a R&D Magazine award last year. Emcore, a maker of multijunction solar cells in Albuquerque, N.M., co-developed the winning solar cell design with NREL and the U.S. Air Force Research Laboratory, the company said. Emcore counts concentrating solar power developer SolFocus among its customers.

GreenVolts wants the IMM solar cells for building systems that make use of trackers that sit low on the ground, a design that the company says minimize wind resistance and makes the system easy and less costly to install.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.