Magnolia Solar gets state funding for solar cells development

(ADPnews) - Oct 18, 2010 - US thin-film photovoltaic (PV) modules developer Magnolia Solar Corp (OTC:MGLT) has recently received funding from the New York State Energy Research and Development Authority (NYSERDA) for the second phase of a three-phase, USD 1 million (EUR m) development programme for nanostructure based thin film solar cells.

The award of the Phase II funds was approved after the Magnolia team met the Phase I milestones for the development of nanostructure based thin film solar cells, the company said. it did not disclose the size of the funding.

The first phase accomplishments included the demonstration of advanced, tunable antireflection coatings for solar cells on glass substrates and the development of nanostructured absorber materials to capture a larger part of the solar spectrum for the high efficiency solar cell development.

Magnolia Solar also said it has opened an office at the Albany Nanotech complex on the University of Albany campus. This allows Magnolia employees to collaborate closely with the development team members at the College of Nanoscale Science and Engineering (CNSE) and Rensselaer Polytechnic Institute (RPI).

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