Global Photonic Energy Corporation Develops Potential Grid Parity Solar Cell

MEDFORD LAKES, N.J.--(BUSINESS WIRE)--Global Photonic Energy Corporation (“GPEC”), a leading developer of a sustainable Organic Photovoltaic (OPV™) technology that enables ultra low-cost solar power generation and exciting new product capabilities, announces the demonstration of a thin-film solar cell that can potentially provide electricity at grid parity, or the cost of traditionally provided electricity.

“This is a historic development for GPEC”

Dr. Stephen R. Forrest of the University of Michigan said the breakthrough, presented at the Fall Meeting of the Materials Research Society, is the result of substantially reduced production costs. It is based on a patent-pending invention that reuses the same Gallium Arsenide wafer multiple times to produce solar cells. This unlimited wafer reuse approach to conventional “epitaxial lift off” technology that typically leads to wafer damage, and hence only a very limited number (1 to 2) of wafer reuses, has the potential to reduce the cost of a typical Gallium Arsenide solar cell to below $1 per Watt (peak).

“This exciting development implies that ultra-high efficiency solar cells based on Gallium Arsenide can eventually produce electricity at or below grid parity.” Dr. Forrest stated. “Using integrated solar concentrators and our adhesive-free, cold-weld bonding technology to plastic substrates, we estimate electricity could be produced as low as $0.45 cents per Watt, compared to traditional grid parity of $1 per Watt.”

“This is a historic development for GPEC,” stated Dean Ledger, President and CEO of GPEC. “In addition to its dramatically reduced cost structure, this demonstration in the University of Michigan laboratories can be used for numerous applications because these high-efficiency solar cells, deployed on roll-up plastic sheets, are ultra-lightweight and flexible. These applications include use in off-grid locations, spot powering of vehicles, mobile military equipment and satellites.” Mr. Ledger said GPEC will commercialize its technology through licensing of its intellectual property, becoming part of its foundational portfolio of more than 425 patents.

About Global Photonic Energy Corporation

Global Photonic Energy Corporation (GPEC) is the world leader in developing sustainable molecular Organic Photovoltaic (OPV™) technologies, holding more than 425 patents issued and pending. GPEC is collaborating with world-class organizations to transform the energy and photovoltaic markets. GPEC has research partnerships with the University of Southern California, the University of Michigan and Princeton University. Global Photonic Energy Corporation is located in Medford Lakes, N.J. To learn more, visit www.globalphotonic.com