7 Comments

Summary:

A startup out of MIT that has developed new ways to manufacture and design silicon-based solar cells launched today with $12.4 million in funding from North Bridge Venture Partners and Polaris Venture Partners. The new solar firm, 1366 Technologies, was founded by MIT Professor Ely Sachs, […]

1366technologies.jpgA startup out of MIT that has developed new ways to manufacture and design silicon-based solar cells launched today with $12.4 million in funding from North Bridge Venture Partners and Polaris Venture Partners. The new solar firm, 1366 Technologies, was founded by MIT Professor Ely Sachs, a long-time innovator of solar photovoltaics. Sachs is well-known for developing the string ribbon solar manufacturing technology, which has brought down the cost and raised the efficiency of solar panel production and has been the key to Evergreen Solar’s success.

The technologies being used for 1366 Technologies are for both the manufacturing of silicon cells as well as the architecture of the cell itself. The company claims that it can bring down the cost of manufacturing solar PV enough to reach cost parity with coal-based electricity — basically the holy grail of the solar photovoltaic industry. The company also says the design of the solar cell itself can deliver a cell with 19 percent efficiency, which is higher than many solar cells available.

Following the funding, 1366 Technologies is looking to start producing cells on a large scale, and plans to build its pilot solar cell manufacturing facility in Lexington, Mass. Polaris Partner and telecom entrepreneur Bob Metcalfe has also joined the company board. When we interviewed Metcalfe back in September, he indicated that Polaris was “on the trail of a photovoltaics company.” MIT’s newly launched 1366 must have been it.

Photo courtesy of 1366 Technologies.

You’re subscribed! If you like, you can update your settings

  1. I’m a little dyslexic, so at first I thought this post said TIM start up gets $12 million and i was like “woah, i used to work at burger king with that guy.”

  2. Bob Metcalfe: Avoid the Pressure of the Green Bubble « Earth2Tech Wednesday, June 18, 2008

    [...] Metcalfe tells us that for Polaris he’s already looking at another solar cell startup (last March the firm invested in solar cell maker 1366 Technologies), as well as a geothermal and a nuclear [...]

  3. 10 Things You Need to Know From The Economist’s Energy Report « Earth2Tech Sunday, June 22, 2008

    [...] which Evergreen Solar commercialized, and who is working on a new startup, 1366 technologies (we wrote about it here). The report points out that Sachs and his crew are looking to make solar cells 27 percent more [...]

  4. MIT Solar Startup Out of Lab, Looking for $50M « Earth2Tech Friday, October 10, 2008

    [...] key to Evergreen Solar’s success. In March, 1366 Tech started talking about its technology and announced that it had raised $12.4 million in funding from North Bridge Venture Partners and Polaris Venture [...]

  5. MIT Solar Startup Out of Lab, Looking for $50M Friday, October 10, 2008

    [...] key to Evergreen Solar’s success. In March, 1366 Tech started talking about its technology and announced that it had raised $12.4 million in funding from North Bridge Venture Partners and Polaris Venture [...]

  6. MIT Solar Startup Out of Lab, Looking for $50M [Earth2Tech - Start-Up News] | Internet Startups Friday, October 10, 2008

    [...] key to Evergreen Solar’s success. In March, 1366 Tech started talking about its technology and announced that it had raised $12.4 million in funding from North Bridge Venture Partners and Polaris Venture [...]

  7. MIT Solar Startup Out of Lab, Looking for $50M | Eco Friendly Mag Friday, October 10, 2008

    [...] key to Evergreen Solar’s success. In March, 1366 Tech started talking about its technology and announced that it had raised $12.4 million in funding from North Bridge Venture Partners and Polaris Venture [...]

Comments have been disabled for this post