Magnolia Solar has the technology to capture a spectrum of solar energy and to reduce energy losses due to reflection. This technology uses non-toxic materials on low-cost substrates to produce low-cost solar cells, the company said.
The company will work in close collaboration with the faculty and scientists of CNSE’s Energy and Environmental Technology Applications Center at CNSE’s Albany NanoTech Complex to demonstrate its technologies in nanostructure-based thin film solar cells.
The program, which is designed to improve energy efficiency while reducing production costs, is also being supported by Fred Schubert at Rensselaer Polytechnic Institute. Magnolia Solar has received a NYSERDA order for the first phase of this three-phase development program.
Ashok Sood, president and CEO of Magnolia Solar, said: “We are delighted to receive this critical funding from NYSERDA, and to have the opportunity to play a role in providing future energy solutions for New York state.
“We are committed to growing in the Albany region, supported by the world-class intellectual and technological infrastructure at CNSE’s Albany NanoTech complex. Magnolia Solar’s mission is to provide environmentally responsible and low-cost solutions for the solar power industry, and to be an integral part of New York’s green energy future.”
