Partnership to Increase Power Generation Efficiency for Solar Manufacturers in Japan and China
TOKYO & REDWOOD CITY, Calif. -- (BUSINESS WIRE) --
Hitachi High-Technologies Corporation (TOKYO:8036), a subsidiary of Hitachi, Ltd. (TOKYO:6501)(NYSE:HIT), and XeroCoat, Inc., a California-based solar energy company, today announced the signing of an agreement, which establishes a strategic partnership between Hitachi High-Technologies and XeroCoat for anti-reflective coating solutions, including equipment and materials for solar modules. Marking the first reseller agreement in Japan and China for XeroCoat, Hitachi High-Technologies will offer customers a comprehensive solution. The cost benefits and other advantages offered by anti-reflective coatings are expected to spur their rapid uptake and, according to Hitachi High-Technologies, 50% of all solar modules are projected to have such coatings by 2015. With this partnership, Hitachi High-Technologies and XeroCoat aim to capture a leading share of the solar power generation market through the sale of anti-reflective coating equipment and materials to solar module and glass manufacturers. According to Nomura Research Institute, in 2010 the solar power market is expected to deliver total power output of roughly 8,800 MW representing a high annual growth rate of 19%. By 2015, market scale in terms of power output is expected to be around 21,000 MW.
"With XeroCoat's anti-reflective coating solution as part of our portfolio, we have broader access to the solar market and can expand our presence in solar manufacturing factories in the global market," stated Mr. Masumi Miyauchi, Senior Vice President and Executive Officer of Hitachi High-Technologies Corporation.
The cost of solar power generation is relatively high compared to other power sources, since only about 20 percent of the collected solar energy can be converted into electricity. This constitutes a significant barrier to full-scale adoption of solar power. For this reason, attention is being paid to ways of reducing the amount of light reflected by the protective glass on the surface of solar modules by applying an anti-reflective coating. This technique makes conversion to electricity more efficient by enabling greater transmission of sunlight.
XeroCoat: The Most Cost-Effective Watt on the Solar Module
The glass surface of solar modules typically reflects more than 4% of incoming light. The XeroCoat anti-reflective coating is a proprietary material that can be manufactured relatively easily at room temperature and in non-vacuum conditions. After coating and curing, silica is chemically bonded to the glass surface, keeping light reflection below 1%. Utilizing the XeroCoat coating, solar module makers can expect a 3% increase in peak power output and a 4% increase in energy produced on a kWhr basis. XeroCoat's turnkey coating system is simple, compact, environmentally friendly and energy efficient, making it compatible with existing manufacturing processes throughout the supply chain. The XeroCoat anti-reflective turnkey coating system has application to the entire range of solar energy technologies, including crystalline silicon and thin-film photovoltaics, concentrating photovoltaics, and solar thermal devices.
"We are very pleased to partner with a globally respected company like Hitachi High-Technologies," stated Thomas Hood, President and Chief Executive Officer of XeroCoat, Inc. "With the backing of Hitachi High-Technologies' worldwide sales and service, and their channel connections, solar module and glass manufacturers can confidently integrate our solution into their process to gain greater efficiencies in manufacturing cost and power output."
About Hitachi High-Technologies
Hitachi High-Technologies Corporation (TOKYO:8036) is a global company that has engaged in a broad range of fields, including electronic device systems, life sciences, information systems & electronic components and advanced industrial products. Hitachi High-Technologies is a subsidiary of Hitachi Ltd. (TOKYO:6501)(NYSE:HIT) Founded in 1947, the Headquarter is located in Tokyo and there are 25 offices in Japan and 59 offices in twenty-seven countries. The company's consolidated sales are $7.8 billion in FY2008. For further information, visit www.hitachi-hitec.com/global/
About XeroCoat
XeroCoat is a Silicon Valley company that designs and manufactures a high-performing anti-reflective coating equipment and materials for solar energy modules. XeroCoat's innovative technology delivers greater solar energy affordability today by decreasing manufacturing costs for solar module makers and increasing energy returns for solar system owners. Founded in Queensland, Australia and headquartered in Redwood City, California, XeroCoat has an international team of world-class optical materials and solar energy scientists and engineers who are focused on continuous innovation of coatings for the solar energy industry. For more information, visit www.xerocoat.com.
CONTACT:
For media inquiries
Hitachi High-Technologies Corporation
Aiko Matsumoto/Kaoru Maruyama, +81-3-3504-3258
Public & Investor Relations Group,
Secretary's Office
or
XeroCoat, Inc.
Beth McAllister, +1-650-362-6306
Vice President, Business Development
bmcallister@xerocoat.com