THIN FILM SOLAR PIONEER POSTS $7 MIL PROFIT
Submitted by New Energy News Blog
Energy Conversion Devices Inc. (ENER) is one of the U.S. pioneers in amorphous polysilicon thin film solar materials manufacturing. The company was founded by Stanford and Dr. Iris Ovshinsky in 1960. Their collaborative achievements and distinctions (thin film solar, imaging technology, electric vehicle batteries, fuel cells, space energy technology) are too numerous to detail. Stan’s role in the company was reduced after Iris passed away in 2006.
On March 31, 2008, the company, on the strength of its growing production capacity and a hot European market driven by feed-in tariffs, posted stunning gains over its performance one year ago.
Demand is running so high the company has filled ~50% of its 2010 pipeline and ~33% of its 2011 pipeline.
Much credit is due Mark Morelli, the company’s new President/CEO, who has emphasized commercialization of Energy Conversion technologies.
Wherever she is, Iris is flashing that stunning smile about the company’s new financial health. She may not be so happy that spending on R&D dropped almost 20%. Both Iris and Stan were dedicated lifelong research scientists.
Perhaps she would be among the first to realize that, as solar energy moves into an era of greater maturity and commercialization, pure research must take a reduced role. Many energy professionals are beginning to say that the 2nd decade of the 21st century will belong to solar energy.
Footnote: Fans of the movie
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