1366 Technologies and Hunt Perovskite Technologies (HPT) announce the merger of their activities.
The merger will combine the two companies’ technological advances in solar panel efficiency.
1366 Technologies and HPT merge their activities
1366 Technologies announces its forthcoming merger with one of thesolar industry‘s most innovative companies, HPT.
This merger will combine 1366 Technologies’ Direct Wafer process with HPT’s perovskite photovoltaic technology.
Together, they will bring to market powerful tandem modules that will lead the solar industry.
Franck van Mierlo, CEO of 1366 Technologies and the new CubicPV, recently said:
“We have the blueprint to realize economically viable tandem solutions on a terawatt scale.
The new company, the result of the merger between 1366 Technologies and Hunt Perovskite Technologies, will be called CubicPV.
It will receive $25 million in funding.
Increase solar panel output by 30%.
CubicPV will develop a tandem technology, following on from the work of 1366 Technologies and HPT.
This tandem technology superimposes two light absorbers in a single device instead of one previously.
This is expected to increase the efficiency of single-junction devices and boost the power of solar cells in panels by 30%.
Michael D. Irwin, CTO of HPT and now also of CubicPV, noted:
“The value of our combined assets will write the next chapter in clean solar energy and support a massive industry.
Two complementary technologies
HPT’s perovskite materials are ideal for tandem modules, as they have a high light absorption capacity.
They enable perovskite semiconductors to efficiently capture solar radiation as the top cell of the tandem.
1366 Technologies’ Direct Wafer products, on the other hand, provide the optimum bottom cell.
It’s an inexpensive way of exploiting the infrared part of the solar spectrum.
The bottom layer produces a third of the device’s energy in this tandem structure.
Towards leadership in tandem technology
The merger between HPT and 1366 Technologies is designed to make HPT the long-term leader in tandems.
Perovskite solar devices are rapidly approaching the efficiency records set by silicon photovoltaics.
HPT’s expertise will enhance the sustainability of this technology.
