DuPont acquires Innovalight, expanding its solar power
DuPont acquired Innovalight, Inc., a company specializing in advanced silicon inks and process technologies that increase the efficiency of crystalline silicon solar cells.
The acquisition strengthens DuPont’s position as a leader in materials for the solar energy market, according to the company. Financial terms of the acquisition were not disclosed.
“Innovalight has very exciting technology that improves cell efficiency and DuPont can help expedite its adoption,” said David B. Miller, president – DuPont Electronics & Communications. “DuPont and Innovalight share a commitment to innovation in materials that have a common purpose – to make solar energy more efficient and more affordable.”
DuPont exceeded $1 billion in revenue from sales into the photovoltaic market in 2010, and has set a goal to reach $2 billion by 2014 based on continued growth supported by new innovations that improve solar module efficiency, lifetime and overall system costs.
Innovalight is based in Sunnyvale, Calif., and has developed proprietary silicon ink products, process technology and a pipeline of anticipated products. Silicon inks used in conjunction with DuPont Solamet photovoltaic metallization pastes boost the amount of electricity produced from sunlight, enabling the production of superior Selective Emitter solar cells, the company said.
Firefighter charged in HD looting case
A 25-year-old firefighter was charged with misdemeanor theft In Joplin, Mo., for allegedly looting a Home Depot store after a tornado destroyed the building, according to an article in the Joplin Globe.
Matthew Page was one of three firefighters dismissed June 9 by the town of Baxter Springs, Kan., for alleged misconduct during the emergency response to the tornado. But Joplin authorities said they only had enough evidence to charge one of the suspects.
Documents filed in Page’s case allege that the firefighters took a chain saw, a gas-powered trimmer, a garden hose and wrenches from the store while on duty and engaged in the emergency response to the tornado.
Prosecutors valued the merchandise at approximately $245, short of the $500 threshold for the filing of a felony theft charge. All of the alleged stolen goods have been recovered except for the chain saw, which has not yet been not included in the charges.
Page supposedly confessed to the theft to detectives, according to the newspaper.
Lowe’s promotes Reeves to senior VP
Lowe’s Cos. promoted M. Lee Reeves to senior VP, deputy general counsel and assistant secretary. Reeves will continue to report to Gaither M. Keener, executive VP, general counsel, secretary and chief compliance officer.
In his new role, Reeves’ responsibilities include leading the corporate transactions, intellectual property and information technology legal teams.
Reeves joined Lowe’s in 2004 as senior counsel, after serving as a member of a private law firm. Reeves earned a bachelor of business administration degree in finance from Southern Methodist University where he also received his doctorate of jurisprudence.