Private equity drying up for thin film solar cell startups, says The Information Network
TIN – July 17, 2007
Source: Tekrati.com
http://www.tekrati.com/research/News.asp?id=9116
A severe shortage of polysilicon used for solar cell production led to a stampede of startups trying to enter the market using thin film technology, according to a market study by The Information Network examining opportunities in the solar cell market for thin film technology. “We’ve literally had a hundred individuals purchasing our report to use as part of a business plan to enter the market,” said Dr. Robert Castellano, founder and president of The Information Network. “Nearly everyone asked about starting a 20MW production plant for $40 million in equipment, and the vast majority wanted to start a CIGS line.”
Private equity money is drying up, according to the report, for a number of reasons. The much ballyhooed startup Nanosolar is notable for grabbing $120 million to use CIGS (Copper Indium Gallium Diselenide) technology. However, the company was started in 2002 and production is scheduled for late 2007 at a former Cisco manufacturing facility in San Jose, California. That translates to a development time of more than 5 years.
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