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NanoFlex Power Corporation and True Metal Solutions Unite to Envelop Buildings with a New Solar Power Generating Technology
NanoFlex Power Corporation and True Metal Solutions Unite to Envelop Buildings with a New Solar Power Generating Technology.
About this update from Nanoflex Power Corporation
[{"type":"text","content":"\n Scottsdale, Arizona, Jan. 10, 2020 (GLOBE NEWSWIRE) -- NanoFlex Power Corporation (NFP), a leading developer of organic photovoltaic technology and high efficiency photovoltaic power generation, and True Metal Solutions (TMS), a building cladding fabricator and installer, have entered into a Joint Development Agreement to integrate organic photovoltaic (OPV) thin film material with cladding for building façades. Unlike today’s rigid, silicon-based photovoltaics, OPV delivers high energy conversion efficiency in a clean organic material that is flexible, transparent and comes in a variety of colors.  The project aims to change the construction tradecraft by allowing buildings to generate clean power using OPV cladding that is scalable, easy to install, visually appealing, and moves buildings toward zero-net energy use. The companies see sizeable financial upside in working together.  According to a 2019 Market Study Report, over the next five years the global OPV market will register a 29% compounded annual growth rate and the global façade market is expected to reach $343 billion by 2025.  By integrating OPV with building façades, clean solar energy is produced, and provides a path for Zero Net Energy (ZNE) mandates such as California and the EU.  The companies project the U.S. building integrated OPV market to reach $3 billion by 2030. “This joint development agreement builds off a continuing partnership with TMS that has already achieved success in securing a Department of Energy research contract to develop integrated organic photovoltaic (OPV) building façade panels and is progressing toward the culmination of a building demonstration project.  We bring to this partnership innovative OPV intellectual property invented over several years at University of Michigan, University of Southern California, and Princeton, and is now in full commercial development at NanoFlex’s Engineering Center in Ann Arbor”, said Norm Allen, chief operating officer and technologist at NFP.  TMS brings technical expertise in the design and installation of architectural building products and commercial construction market prowess”, commented Allen. “The efficient energy producing capability of NFP’s OPV, combined with improved aesthetic over conven...