HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) has successfully set a new world record in power conversion efficiency for polymer-based single junction organic photovoltaic (OPV) cells. The 11.84 percent efficiency was certified by Newport Corporation, a recognized center for independent verification of solar cell results under standard testing conditions.
The solar cells are based on proprietary state-of-the-art polymers and interfacial layers, which have been developed by Phillips 66. The advantaged technology can be printed using low-cost roll-to-roll manufacturing processes. The organic solar cells do not contain hazardous components, such as lead or cadmium, unlike some other types of thin film technologies.
“This breakthrough in efficiency brings us closer to the possibility of commercializing this promising form of solar technology,” said Merl Lindstrom, vice president of Technology at Phillips 66. “Continuing to increase the ability of OPV cells to convert power with high efficiency will one day make this energy source more affordable for the consumer.”
OPV technology enables the development of flexible, lightweight and transparent solar modules that can be manufactured at a low cost. The Phillips 66 materials provide the potential for cost-effective renewable electricity generation on par with conventional energy technologies.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $50 billion of assets as of Sept. 30, 2016. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.