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Friday, July 9, 2010
Shut down reported at Solasta
By Mass High Tech staff
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Solasta Inc., a Newton-based nanostructured solar cell developer, has closed its doors, according to a report today in Greentech Media.
The company, a 2006 second-place winner in MIT Enterprise Forum’s Ignite Clean Energy Business Competition, developed ultra high efficiency solar ceclls using nanoscale elements.
Solasta’s website is still up and running. Company CTO Michael Naughton was not available for comment today, but a statement included in Greentech Media’s article notes: “[Solasta] has executed a sale of its assets, consisting of laboratory-scale solar cell fabrication and characterization equipment, and intellectual property. The former includes a license to the original nanocoax solar technology, still held by Boston College, as well as additional IP generated by the company. It has been sold to an academic institution in China which plans to continue development toward commercialization. The company also terminated an active $2.7 million grant from the Department of Energy’s Solar Energy Technology Program.”
Solasta was founded in 2006 by Boston College physics department faculty members, including Naughton, Zhifeng Ren and Krysztop Kempa.
The company had received Series A funding from venture capital firm Kleiner Perkins, Caufield and Byers.
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