Looks like Intel is officially entering the renewable-energy space. The Santa Clara, CA-based chipmaker, which has major operations in the Northwest, has announced that it is spinning out an independent solar-energy company called SpectraWatt (an awful name, can we all agree). Intel (NASDAQ: [[ticker:INTC]]) said in a statement that the company was formed “to spur new development and demand for renewable energy sources.”
Intel Capital is leading a $50 million round of financing in SpectraWatt, joined by Cogentrix Energy (a wholly owned subsidiary of The Goldman Sachs Group), PCG Clean Energy and Technology Fund, and Solon AG.
SpectraWatt will build photovoltaic cells for solar module suppliers. It will focus on advancing the technology while reducing manufacturing costs, which has always been the issue with solar cells. (We’ll be following closely to see how they do there—a Moore’s Law equivalent for solar, anyone?) The company’s manufacturing and technology development facility is expected to be up and running in Oregon, presumably near Portland, later this year. Its first products are supposed to ship in mid-2009.
Author: Gregory T. Huang
Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003.
Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.
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