Innovalight will secure $3.4m DOE funding to accelerate the development and production of silicon ink material and processes for high efficiency solar cells at its operations in Silicon Valley in the US state of California.

The company manufactures a nanotechnology-based silicon ink and licenses a proprietary process which allows for a simple upgrade to solar cell manufacturing lines to improve the performance of solar cells and lower production costs.

The DOE’s SunShot initiative aims to decrease the total costs of solar energy at the utility, commercial and residential levels by 75% before the end of the decade.