Greentech Media

A drought of solar-grade silicon has been the defining issue in the PV market for the past three years. Companies say industry growth - and profits - would be even higher if they could get their hands on more of it. And Solaicx thinks it has found a way to alleviate some of the industry's pain. If its silicon ingot and wafer technology reaches its potential, Solaicx could play a critical role in bringing solar closer to grid parity and to the mainstream.

Solaicx's technology is taking on the time-consuming and costly process of creating single-crystal silicon wafers, known as the Czochralski process. Solaicx has developed a "continuous Czochralski" technology that could make the process up to five times faster while cutting costs 30 percent or more and using silicon 15 to 30 percent more efficiently. This efficiency would directly improve solar-panel suppliers' bottom lines and also would make Solaicx a clear market winner, even after the shortage ends.

Investors apparently think so, too. Solaicx recently added $27.1 million to bring its total funds raised to $43.9 million, and it boasts backers including Mitsui Ventures, the venture-capital arm of D.E. Shaw & Co; Applied Ventures, the venture arm of Applied Materials Inc.; Big Sky Ventures; Firsthand Capital Management and Greenhouse Capital Partners.