Building a better light trap
Category: Sustainability — Region: Western
Sergey Vasylyev, President/CEO
Elevator pitch: Lucent Optics has developed a new solar module configuration that makes module manufacturing more profitable and sustainable. Our patented light harvesting technology generates more power using much less semiconductor materials. We also help eliminate raw materials waste and dramatically reduce the use of energy and hazardous chemicals in module production.
How we make a difference: Lucent Optics’ technology enables efficient solar energy harvesting using much less semiconductor material, thus reducing the cost of solar energy and making domestic solar manufacturing profitable and sustainable without subsidies. We also help drastically reduce energy consumption, waste, toxic material use and greenhouse emissions associated with producing solar modules, making solar energy truly “clean.”
If we win? Winning at the Global Forum will help take our company to the next level and broaden our exposure to potential customers, partners and investors. Additional funding will also put us in a position where we can streamline our product development effort, hire more engineering staff, and expand our patent portfolio.
Cleantech Open anecdote: Interactions with the Cleantech Open community and mentors have greatly helped sharpen our business focus. One thing we did not quite expect was a very consistent advice to direct our business model toward licensing rather than manufacturing, in view of the enabling nature of our innovation and the broad scope and strength of our existing IP.