HelioVolt and Exeltech Announce R&D Collaboration for CIGS-Enabled Solar Energy Systems

AUSTIN & FORT WORTH, Texas--(BUSINESS WIRE)--HelioVolt Corporation and Exeltech today announced a joint development agreement to commercialize turnkey systems for cost-effective, reliable solar energy generation. The collaboration will draw on HelioVolt’s proprietary FASST™ technology for rapid CIGS thin-film production and Exeltech’s core competencies in high performance AC power system design and manufacture. Development and manufacture of the planned solar energy systems will take place at company headquarters in both Austin and Fort Worth.

“Exeltech has earned an outstanding reputation as producer of one of the power industry’s highest quality, most reliable inverters. We look forward to matching that systems-level expertise with HelioVolt’s own proficiencies in rapid CIGS manufacture to deliver a simple, cost effective solar energy product.”

The companies intend to develop streamlined systems for both conventional solar module and building integrated photovoltaic (BIPV) products. Enabled by advances in material efficiencies, product design and system integration, the resulting grid interactive products will offer benefits in the form of high volume manufacturing, simple installation and easier monitoring and maintenance throughout the system’s lifetime.

"The flexibility of the HelioVolt design lends it self perfectly to integration with Exeltech’s newest generation of grid interactive products,” said Kevin Parsons, vice president and director of marketing for Exeltech. “We feel the merging of these two very cost effective designs can make a photovoltaic product deployable on scale that will have a significant impact on the growing power needs of both residential and commercial customers and will reach a price parity with today's conventional generating methods."

“As HelioVolt’s product development moves forward, this collaboration is perfectly in line with our strategy to partner with best of breed organizations that can speed thin film enabled product to market,” said Dr. B.J. Stanbery, CEO and founder of HelioVolt. “Exeltech has earned an outstanding reputation as producer of one of the power industry’s highest quality, most reliable inverters. We look forward to matching that systems-level expertise with HelioVolt’s own proficiencies in rapid CIGS manufacture to deliver a simple, cost effective solar energy product.”

About HelioVolt

HelioVolt Corporation was founded in 2001 in order to develop and market new technology for applying thin-film photovoltaic coatings to a variety of substrates including conventional construction materials. The company’s proprietary FASST™ process, based on rapid semiconductor printing, was invented by HelioVolt founder Dr. Billy J. Stanbery, an eminent expert within the international PV community in the materials science of CIGS and related compound semiconductors. FASST™ is a low-cost, flexible manufacturing process for CIGS synthesis and is protected by both eight issued US patents and by global patents pending. For additional information, visit www.heliovolt.com.

About Exeltech

Exeltech was founded in 1990 based on the philosophy that efficiencies in the manufacturing process through product design, coordinated with facility layout, were paramount to productivity and the key to a quality product. Our mission is to provide leadership electronics and superior customer service through the merging of innovative designs with advanced manufacturing technology.