News and Events
SoloPower Prepares for Market Entry and Names Lou DiNardo as Interim CEO
25-year semiconductor industry veteran to lead transition to high-volume manufacturing facility
San Jose, Calif. – July 8, 2009 -- SoloPower, a California-based manufacturer of thin-film solar photovoltaic (PV) cells and modules, is accelerating into its next stage of growth as it prepares products for market introduction and nears high-volume manufacturing. As SoloPower enters this next stage of growth, semiconductor veteran Lou DiNardo has been appointed as the Company’s interim President & Chief Executive Officer, succeeding co-founder Homayoun Talieh who will remain closely involved with the company as a member of its board of directors.
After 25 years of senior operating experience at blue-chip semiconductor manufacturing companies including, Analog Devices, Inc., Linear technology and Intersil, Mr. DiNardo has worked with SoloPower from his current position as Partner at Crosslink Capital, an early investor in SoloPower.
Mr. DiNardo joined Crosslink in January 2008 as a partner in the firm's energy technologies and computing and semiconductor practices. Prior to joining Crosslink Mr. DiNardo was a Partner in the CleanTech practice at VantagePoint Venture Partners. Previously, Mr. DiNardo served as President and Chief Operating Officer at Intersil Corporation (ISIL). Mr. DiNardo also served as President and Chief Executive Officer and Co-Chairman of the board of directors of Xicor Corporation from November of 2000 through July of 2004 when the company was acquired for over $500 million by Intersil. Prior to joining Xicor, Mr. DiNardo was Vice President and General Manager of the Mixed Signal Business Unit at Linear Technology Corporation (LLTC) and held a variety of executive positions with the company during his 13-year tenure with the company. Mr. DiNardo began his career in the semiconductor industry at Analog Devices Corporation.
“SoloPower has begun the transition from a development stage company to commercial production,” said Interim CEO, Lou DiNardo. “We aim to begin high volume production in 2010. This transition requires leadership with experience running high-volume manufacturing companies, I am pleased to help position this company for its next phase of growth.”
Recent Developments
In June, SoloPower became the first U.S. manufacturer of flat-plate PV modules built from flexible CIGS (copper-indium-gallium-selenide) cells to have its product certified under the ANSI/UL 1703 standard. The National Renewable Energy Laboratory (NREL) has measured the efficiency of this flat-plate module product at 10.07%, and has measured efficiencies of 102 cm2 SoloPower cells as high as 12.1%. Accelerated life testing of SoloPower PV modules has demonstrated reliability exceeding market requirements.
The DOE Loan Guarantee program has recently selected SoloPower for due diligence and negotiation of a $190 million loan guarantee to help fund the build out of a volume manufacturing plant for SoloPower PV modules.
About SoloPower
SoloPower, Inc. aims to transform energy economics with its unique thin-film photovoltaics (PV) technology. The company’s mission is to mass produce low-cost, high-efficiency PV modules that offer a viable alternative to electricity produced using traditional fossil fuels. SoloPower devices are fabricated on copper-indium-gallium-selenide (CIGS) materials using a proprietary electrochemical process. The company is headquartered in Silicon Valley at 5981 Optical Court, San Jose, California 95138. For more information on SoloPower, please visit the company on the Internet at www.SoloPower.com.