int'l solartech presentation 2010-11-05

7/30/2019 Int'l SolarTech Presentation 2010-11-05

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MicrowireIII-VSolarCells

APresenta*on

Int'lSolarTech,Inc.Confiden:al2010-11-05

Contact:S.P. Bob Wang

President & CEOInternational Solartech, Inc.

4984 El Camino Real, Suite 115Los Altos, CA 94022, USAEmail: [email protected]

Cell: 650-450-1755


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Summary ISTobtainedexclusivelicensefromHPonalow-costMicrowiresolarcelltechnology

-ThetechnologyallowsinexpensivegrowthofMicrowiresonnon-crystallinesubstrate,suchasglassandstainlesssteel

-Theprojectedmanufacturingcostisin$100/m2range,sameasotherthin-filmsolarcells(e.g.CdTe,CIGS,a-Si)

-Leveragesstandardindustrythin-filmmfgequipmentandprocesses

-3basicpatentsalreadyissued

ISTscrudeIII-Vprototypealreadyachieved8.5%efficiencyfor1-Sun-III-Vmaterialisknowntoberobust,highinherentefficiency,radia:on-resistant,non-toxic

ISTprojectstoreach>25%efficiencywithin18monthsoffunding-Thatismore2xtheefficiencyoftheleadingsolarthin-film(11%efficiencyreportedbyFirstSolarsCdTe)

-Thus,ISTprojectsalas:ngadvantagewithacost=thatofthebestinthefield,FirstSolar

Strongpatentposi:onthatleverages$75million&mul:-yeardevelopmenteffortatHP-Exclusivelicenseandassignmentof31inven:ons(aspatents,patentapplica:ons&disclosures)

Experiencedteam&Addi:onalIP-WorldclassteamoftechnologistsfromHPwithsuccessfuldevicesTrackRecords;totalover100yearsexperienceinIII-Vdevices

-Addi:onal8patentsfiledbyIST

-Experiencedstart-upmanagement



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ISTTeamS.P.BobWang President&CEO,BoardDirector

Successfulindrivingcomplextechnologicaldevelopments.Foundedseveraltechnologycompanies;allVCfunded,whichincludeR2(soldfor$220Min2006),

U-Systems(1-yearfromrevenue),O2MedTech(1yearawayfromrevenue).FormedcorporateallianceswithGEandSiemens

SanjivKaul VP,BusinessStrategy,BoardDirectorStartedcareeratSolarexaPVpioneer;SuccessfulGMinEDAindustry(Sr.VP@Synopsys)Grewbusinessfrom$250Mto$800Min5years.

CEOofSequoia/USVPfundedsemiconductorstartup(Velogix);Boardmember/Advisorforseveralstartups

SY(Shih-Yuan)Wang,PhD VP,CTOLeaderofHPmicrowirePhotonicInterconnect&SolarCellProject;Dis:nguishedScien:statHP'sInforma:onQuantumSystemsLab;PIof$20+million

DARPAprogram.TeamleaderdevelopedHPVCSEL-ledtomul:$billionbusinessforHPinservers(>100millionVCSELs/yrused),printers,instruments&

data/telecommunica:oncomponents;TeamleaderdevelopedHPLabsGaNblueLED/lasersfordisplay.IEEEFellow&OSAFellow;EditorsofApplied

Physics-A&JournalofNanoengineering&Nanosystems.PhDfromUCBerkeley.

NobuhikoNobbyKobayashi,PhD SeniorScien:stMemberofHPmicroowireSolarProject;Assoc.ProfessoratUniv.California,SantaCruz;Researchinsynthesis&characteriza:onofnano/micromaterials&devices;Co-DirectorofUCSC-NASAAdvancedStudiesLab,PIofmaterialsynthesisinaseriesofDARPA,NASA.HondaSolarLab.PhDfromUSC.

YuMin(Denny)Houng,PhD SeniorScien:stMemberofHPmicrowireSolarteamandtheteamthatdevelopedVCSEL;over30yearsinIII-Vcompoundsemiconductors&devices.Co-founderof

OEpic,makeroftriplejunc:onIII-Vsolarcells.ConsultanttoWorldslargestLEDsupplierEpistar.PhDfromStanford

WeiHsin,PhD SeniorScien:stDirectorofAdvDevices&WaferFabatArchcom;LandMarkOptoelectronics;Demeter/Finisar;Ortel;PhDfromUCBerkeley

SeniorAdvisors

ToshishigeYamada,PhD (Prof.ofEngineering,CenterforNanostructure,SantaClaraUniv.;topmodelingexpert;studentofProf.Kubo)

SriSrinivas,PhD(formerAppliedMaterials;developed&implementedthin-filmprocessingplantsaroundtheWorld).

ISTBoard

S.P.BobWang

SanjivKaul

BradMasonFounderofNovellusSystems(Revenue$1B;MarketCap$2.5B)



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Presenta:onContents


Why Solar?

IST Value Proposition

Origin from HP

2-year Operating Plan

Projected Manufacturing CostsFor a 200 MW Plant


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SolarMarket



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- 125,000Terawa-Yr-Humansuse13TW-Yr

-Environmentallyfriendly

-MajorGovt.Focus+Incenve-Approachinggridparityincost

WhySolar?



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TheU.S.IsWellSuitedforSolar

U.S.has7%worldsSolarPV

DuetoGovernmentIncen:ves,althoughGermanyisequivalent

toAlaskainsolarradia:on,

Germanyhas57%worldsSolarPV


See following Solar Radiation Maps


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CostofElectricityinU.S.


For Calif, Grid Parity = 13/kWh x 1800 kWh/kW-yr = $234/kW-yr = $2.34/W for 10 yr


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AreaRequirementsToPowerTheUSA

(150x150km2)of

Nevadacovered

with15%efficient

solarcellscouldprovidetheUSAwith

allelectricityneeds

J.A. Turner, Science285 1999, p. 687.



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CommercialPVToday

Crystalline Silicon78% Market Share

Thin FilmTotal 22% Market Share


CdTe 11%

Amorphous Silicon 9%

CIGS 2%


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ISTSelectedIII-VforBestReportedPVConversionEfficiency

ReferenceNRELNa:onalRenewableEnergyLaboratory

PVMaterial BestEfficiency

III-VSingleXtal3-Jct 37% III-VSingleXtal4-Jct 45% Si

SingleXtal 24% PolyXtal 20%

Amorphous 12%

CIGS 19% CdTe 16%



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III-VSolarCellsisISTsChoice

III-VCompoundsGroupIIIelementsAl,Ga,In;GroupVelementsN,P,As,Sb

HighestKnownEfficiency37% ExpensiveNow$200/W

ISTsNanowireexpectedtobringcostto


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ISTValueProposi:on


IST Has an Unique Position In Costs

IST Addresses Broad Markets

IST Stays Competitive With Time


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ISThasanUniquePosi:on


$100/m2

10%

20%

30%

40%

0%$0/m2 $200/m2 $300/m2

Efficiency

Manufacturing Costs

$2/W

$4/W

IST

Projected

(Gen3)

Thin-Film

(Gen2)CdTe,CIGS,a-Si

CrystallineSi

(Gen1)


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ISTValueProposi:on

ISTValueProposi:on&

RoadmaptoLas:ngCostAdvantages

2011Single jct III-V

Module eff=27%

$0.44/Wp

2013Triple jct III-V

Module eff=37%

$0.36/Wp

IST TodayAssume Eff 8.5% Mfg

Cost $120/m2

IST Roadmap(III-V on SST)

Sources: 2006 Deutsche Bank


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ActualCostperWa

Int'lSolarTech,Inc.Confiden:al2010-11-05Source: Tech Rev July/August 2010


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OriginfromHP



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FromHPtoIST OriginofMicrowireDevelopmentatHP

Needforlow-costPhotonicsinComputerServers III-Vmicrowires-thebestanswer,aer$75MR&D;over40patentsfiled Low-cost27GHzbandwidthphotodiodedeveloped

MostSignificantDiscoveriesatHP III-Vmicrowiresdepositedonnon-crystallinesubstrate,firstpatentjust

issued(US 7,608,530)

III-Vmicrowireshavesinglecrystallineproper:es III-VmicrowiresaresuperioranddifferentfromIII-Vnanowiresinmany

aspects

SolarCellApplica:on

ReasonsforSpin-off HPwantstofocusonComputer,ServersandPrinters Solarisnotacorebusinessdirec:on HPexpectsreturnsfromEquityandRoyal:es



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IST/HPTechnology&IP

IST/HPIII-VcompoundsemiconductorMicrowires,whicharegrownasindividualsinglecrystalswithIII-Vcrystallineproper:es.

IST/HPIII-VMicrowiresaregrowninexpensivelyonnon-crystallinesubstrate;3basicpatentsalreadyissued(US 7,608,530; US 7,741,647; and US

7,754,600);morethan40patentsinpipeline.

2gm/m

2

issufficientcoverageforMicrowirePVcellgrowth,anditsmanufacturingcostisexpectedtobesimilartothinfilms(in$/m2)



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Large Area Ensemble of Microwires Appear to beSoot Black, Creating an Almost Perfect Light

Absorber at Any Angle of Incidence


NoInPMicrowires

SurfacewithInPMicrowires

Reflec:onMeasurementsonInPmicrowiresonGaAs


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IST-HPRela:onship

HPassigning31inven:onstoIST+licensing13dual-usepatents

Licensingroyal:es (5%onfirst$250MGrossSales,3%thereaer)

(undernego:a:onstoreduceto1%asmarketgrows)

EquityStake (HPholds10%inCommonStockwithnofurtherright)

KeyHPtechnologistsjoiningISTInt'lSolarTech,Inc.Confiden:al2010-11-05


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ISTLeveragesKeyAssets

$75MHP

Research

Effort

KeyHP

Technologists

JoinIST

30+HP

Inven:ons

Exclusively

Assigned

$$$Value to ISTStakeholders



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TheISTSolu:on


Selected III-V for its Inherent High efficiency

Conducting Modeling for the Best Approach

Selected InP as Initial Microwire Material for its Match to Solar Spectrum

IST Found PV effect in Crude InP Prototype, with 8.5% Efficiency

ISTs Preliminary Structure & Process Designed; Each & Every Step is Known

Modeling for Low-Cost Manufacturing Process


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ISTSelectedIII-VforBestReportedPVConversionEfficiency

ReferenceNRELNa:onalRenewableEnergyLaboratory

PVMaterial BestEfficiency

III-VSingleXtal3-Jct 37% III-VSingleXtal4-Jct 45% Si

SingleXtal 24% PolyXtal 20%

Amorphous 12%

CIGS 19% CdTe 16%



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InPMatchessolarSpectrumWell

InPcaptures74%ofSolarSpectrumwith1.35evBandgap


InPCapture

Window


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ISTProjects>25%Efficiency

(1)

Crystalline1-JctIII-VPVsareknowntohaveEfficiency>20%e.g.>20%reportedfor1-jctbothGaAsandInPPV(Bauhuisetal;SolarEn,Mat.&SolarCell2009,pp.1488,andWanlessetal,1989)

(2) ISTsini:al8.5%measuredonHPPhotodiode,notop:mizedforPV(3) ISTsp-i-nPVisexpectedtohavemuchhigherEfficiencythanp-norn-p

e.g.2005studyfromNREL(Ptaketal(fromNREL);IEEEPhotovoltacsSpecialistsConf,2005;NREL/CP-529-37479)reportsthatinternalquantumefficiency(QE)improveswithdeple:onlayerthickness(w)atallphotonenergiesabovebandgap

The figure at left shows that QE (probability of carriercollection) is critically Dependent on the depletion layerthickness (w)

Typical crystalline III-V PV cells have typically w


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2-YearOpera:ngPlan



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TargetMilestones Incuba:onPeriod(uptofunding)

Stage1Characteriza:on&Photovoltaic Microwirescharacterizedassinglecrystallinewithhighop:calproperty Photovoltaiceffectobservedoncrudeprototype8.5%Eff.1-Sun Modeling,processdesigning&limitedexperimenta:onforhi-eff&low-cost

ISTfiled8patentsonstructureconfigura:onsandprocessingmethods EstablishScien:ficAdvisoryBoard EstablishRela:onshipswithResearchIns:tu:ons

SeriesAFinancing(FirstClosing=$3millionminimum;Con:nuetoclosetoupto$5million)

Stage2Op:miza:on

Op:mizesolarcellstructureefficiencygoal>25%in18months

Op:mizeprocessingforlow-cost Planningapilotplantinparallel

SeriesBFinancing Stage3PilotPlantManufacturingProcessDevelopment



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ProjectedManufacturingcosts

fora200MWPlant*


*Please note that these projected costs, capex & economics are best estimatesand quantitative numbers will be obtained during the pilot line phase


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Transparentconduc:nglayer

Boomelectrode

Substrate

n-layer

p-layer

TopelectrodesCu,Al,etc.

TCLMaterialsWidebandgaptransparentsemiconductors

(e.g.ITO,ZnO,etc.)

MaterialsWidebandgapnon-singlecrystalsemiconductors

(p-typea-SiH,p-typemc-SiH,andp-typeSiC,etc.)

MaterialsGroupIV,II-VI,andIII-Vsemiconductorsandrelatedalloys,

Insinglejunc:onormul:plejunc:onmicrowireswithtransparent

dielectricfiller

Materialsn-typea-SiH(Bdopeda-SiH,etc.)

MaterialsMetalsandmetallicalloys(Mo,Cr,NiSi,etc.)

MaterialsStainlesssteel


ISTs Preliminary Structurefor III-V Microwire 1-Jct Solar Cell

(Every processing Step is known)


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CellManufacturingFlow(SSR2R)


-Si

n-Si

p-Si

BoomElectrode

(ZnOspuer)

TCO

InPCVDorMOCVD

n-Si

Aumicro-

par:clesspray

p-Si

BoomElectrode

(Mo,Cr,NiSi)

TCO

Transparent

conduc:nglayer

Boomelectrode

Substrate

n-layer

p-layer

Etchback

Filler

AgReflector


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FirstOrder$/m2Es:mate

-SiOnGlass $/m

2

TCOCoatedlowFeglass 20

Films(absorber,PIN,

TCO,...)50

Encapsulant 10

Moisturebarrier/backing

(Tedlar,PVF) 10Frame,Junc:onbox,

electricalinterconnects20

Labor(direct) 10

Produc:onOverhead 35

Deprecia*on 20

IndirectMaterials 5

IndirectLabor 5

Financing,Profit 5

Total 155

InPonR2R $/m

2

SSrolls 8

Films(InP.n/pSi,TCO,...) 45

Encapsulant 10

Moisturebarrier/backing

(Tedlar,PVF) 10Frame,Junc:onbox,

electricalinterconnects20

Labor(direct) 10

Produc:onOverhead 17

Deprecia*on(scaled) 8

IndirectMaterials(scaled) 2

IndirectLabor(scaled) 2

Financing,Profit 5

Total 120


Source: Smestad, 5/09


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Wp/m2DensityComparison

PanelProducer Model Efficiency(%) Wp/m2

Sunpower SP315 19.3 193

FSLR FS280 11.1 111

Solyndra SL-001-191 9.8 98

AMAT Tandem 8.0 80

Unisolar PLV-136 6.3 63


PanelProducer Model Efficiency(%) Wp/m2

IST Single 27 270

IST Triple 42 420


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CurrentCapexEconomics

Capexforafullyintegrated100MWLine

c-Si $200M(sourceMiasole)

-Sionglass $50-75M(sourcetradepubs)CIGSR2RonSS $25M(sourceMiasole)



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ISTManufacturingEconomics

Es:ma:on $25Mfora100MWCIGSlineat~12.5%(refMiasole) AssumesameCapexforISTline AssumeISTmoduleefficiencyat27%$25MCapexwillprovidea216MWInPline

$120/M

2

and$0.44/Wpat27%Efficiency



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ProjectedISTCostin$/Wp


$120/m2

270 Wp/m2 = $0.44/Wp


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Summary ISTobtainedexclusivelicensefromHPonalow-costMicrowiresolarcelltechnology

-ThetechnologyallowsinexpensivegrowthofMicrowiresonnon-crystallinesubstrate,suchasglassandstainlesssteel

-Theprojectedmanufacturingcostisin$100/m2range,sameasotherthin-filmsolarcells(e.g.CdTe,CIGS,a-Si)

-Leveragesstandardindustrythin-filmmfgequipmentandprocesses

-3basicpatentsalreadyissued

ISTscrudeIII-Vprototypealreadyachieved8.5%efficiencyfor1-Sun-III-Vmaterialisknowntoberobust,highinherentefficiency,radia:on-resistant,non-toxic

ISTprojectstoreach>25%efficiencywithin18monthsoffunding-Thatismore2xtheefficiencyoftheleadingsolarthin-film(11%efficiencyreportedbyFirstSolarsCdTe)

-Thus,ISTprojectsalas:ngadvantagewithacost=thatofthebestinthefield,FirstSolar

Strongpatentposi:onthatleverages$75million&mul:-yeardevelopmenteffortatHP-Exclusivelicenseandassignmentof31inven:ons(aspatents,patentapplica:ons&disclosures)

Experiencedteam&Addi:onalIP-WorldclassteamoftechnologistsfromHPwithsuccessfuldevicesTrackRecords;totalover100yearsexperienceinIII-Vdevices

-Addi:onal8patentsfiledbyIST

-Experiencedstart-upmanagement



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Appendix



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ISTCrudePVPrototype



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Crystalline1-JctInPEfficiency&Theore:calLimits

80

60

40

20

02010 2011 2012 2013

c-InP

Absolute InP Limit

Efficiency%

Shockley-Queisserc-InP Limit



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IST-InPMicrowireToday8.5%Efficiency&Theore:calLimits

80

60

40

20

02010 2011 2012 2013

c-InP

Absolute InP Limit

Efficiency%

Perfect InP MW Drift Limit

ISTToday8.5%Eff



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IST-InPMicrowireProjectedEfficiency&Theore:calLimits

80

60

40

20

02010 2011 2012 2013

c-InP

First Solar - CdTe

Absolute InP Limit

Efficiency%

Perfect InP MW Drift Limit

Best CIGS Reported


int'l solartech presentation 2010-11-05

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