15 Apr 2010

New UK company launched to make Solar Power a low-cost mass product

Solar Press today announced its plans to commercialise low-cost photovoltaic modules, at a fraction of the cost of the current state of the art, which can be easily integrated into everyday products that are an essential part of peoples’ lives.

Photovoltaics, the direct conversion of light into electricity, is the only renewable energy technology with the capacity to fulfil the world’s long-term electricity needs. The obstacle in fulfilling this promise is the high capital cost of installing and producing photovoltaic power, using currently available technologies.  Less than one percent of the world’s photovoltaic production capacity is currently installed in the world’s underdeveloped regions where it is needed the most.  Even in industrialised affluent economies, photovoltaics has required government subsidies to become economically viable.  Solar Press’s innovations in photovoltaic module design and processing techniques will make solar electricity products affordable in all markets without the need for subsidies.

“Our module designs and processing technology make use of readily available industrial infrastructure that does not require massive capital investment and long payback periods.  In addition, no scarce minerals are needed.  As a result, we can offer solar modules at prices which are affordable everywhere.  Our first target is integrating solar power into off-grid applications for the billions of people who do not have any access to or lack reliable grid electricity”, explains the founder CEO Omar Cheema. These breakthroughs in ultra low-cost photovoltaic modules are being driven by CTO Jonathan Halls and the company’s product development team, out of its custom-built facility in London.  A key advantage is the manufacturing flexibility in scaling and tailoring the module designs for various applications.

The company has been seed funded by and created with the strategic support of Carbon Trust Enterprises Ltd.  An international group of scientific innovators, with world-leading R & D capabilities, is strengthening the company’s product development roadmap with new technology innovations.