Innovalight Raises $28 million for solar product development

"Innovalight is developing a very attractive approach to lower the costs of conventional solar energy," said Bjorge Gretland, managing partner for Convexa Capital who joins the board of Innovalight. "The company's silicon ink process to make cheaper solar cells offers huge potential to help accelerate growth in the overall solar market," he added.

Compared to solar modules in the market today, Innovalight has developed a proprietary technology that utilizes liquid processing of silicon to produce high-efficiency solar cells that have the potential to reduce solar costs by more than 50 percent.