Date: 17/06/2008

Intel to form an independent company called SpectraWatt to manufacture solar cells

Intel with objective to boost its investment in clean technology initiative, has formed an independent company called SpectraWatt Inc. Intel Capital has invested $50 million in its first round of investment. The other stakeholders are, Cogentrix Energy, PCG Clean Energy and Technology Fund (CETF) and Solon AG.

SpectraWatt to produce Photo-Voltaic cells to solar cell module vendors. Also innovative process technologies to increase efficiency of PV cells will be researched and developed in this new firm. The first shipment of PV cells is expected in mid 2009.

Environment friendly technologies are no more just a craze or concern but is the next strategic thinking in making profits.