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"With our technology, we are paving the way for a solar industry that is competitive with grid power without further need for subsidies. This will make solar energy the premier energy source in the 21st century. Wellington Partners has recognized this very early and we are very happy to partner with them, They bring a tremendous network in the German Solar industry that will be of immense value as we develop our company."
Bala Padmakumar
CEO, Netcrystal
Wellington contact:
Bart Markus
Spearhead the fast-growing solar industry
Silicon Valley-based Netcrystal has developed a technology to produce high efficiency Si based solar cells at costs lower than that projected by thin-film technologies. Using an innovative non-tracking concentrator technology, the Netcrystal’s technology can save a large portion of the silicon used and thereby reduces the most signficant cost factor on the cell level. Netcrystal is led by CEO Bala Padmakumar, a serial entrepreneur in the semi area, and CSO Peter Peumans, a Belgian professor at Stanford with a long track record in solar technology. Their experience and the potential of the technology has convinced Wellington Partners as well as Siemens and XSeed to invest in the company in April 2008.
First investment: April 2008
