Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which holds the brand "Yingli Solar," announced that it has signed a technology, research and production collaboration agreement with Innovalight, Inc. ("Innovalight"), a privately-held firm selling a platform of silicon ink-based high efficiency solar cell materials and technology. By collaborating with Innovalight, Yingli Green Energy expects to raise the average efficiency of the multicrystalline cells produced on its commercial production lines.
"We are glad to sign this agreement with Innovalight," said Dr. Dengyuan Song, Chief Technology Officer of Yingli Green Energy. "We believe strong research and development capabilities are critical to strengthen our industry leadership, and we have recently launched a series of innovation initiatives. Our collaboration with Innovalight once again re-affirms our commitment to technology advancement and allows us to bring the benefits of cutting-edge technologies to our valued customers."
"We are delighted to have Yingli Green Energy as our customer and partner," said Conrad Burke, Chief Executive Officer of Innovalight. "Innovalight's silicon ink technology is a powerful platform to incorporate in the production of high efficiency solar products. Our collaboration with one of the largest vertically integrated solar product manufacturers in the world today is very exciting," he added.
Innovalight manufactures a proprietary nanotechnology-based silicon ink and licenses a proprietary platform process which allows a simple upgrade to solar cell manufacturing production lines to boost performance of solar cells and lower production costs.