SunDensity Signs Research Agreement with University of Rochester Institute of Optics to Further the Manufacturing and Development of its Sustainable Energy Product
- S&P 500 ends lower on mixed Fed messages, PCE on deck
- Salesforce lifts annual guidance after Q3 earnings beat expectations; stock jumps
- Economic outlook deteriorates as growth, inflation slows: Fed's Beige Book
- UAW push to organize Tesla (TSLA) and non-union auto sector
- After-hours movers: Salesforce, Snowflake jump on strong results
Pilot manufacturing program builds SunDensity’s presence in Rochester while giving University's faculty and students the opportunity to collaborate on an industry-changing technology
ROCHESTER, N.Y., March 09, 2021 (GLOBE NEWSWIRE) -- SunDensity, the developer of the Photonic Smart Coating (PSC™) technology that increases solar power output and has additional applications in consumer electronics and architectural glass, today announced a research agreement with the University of Rochester’s Institute of Optics. As part of the one-year agreement, University of Rochester will combine its valuable experience, skills, and ability in optical sciences with SunDensity’s goal to speed the manufacturing process and design of its nano-optical coating equipment.
SunDensity is a Luminate NY cohort company. The startup was named “Company of the Year” and was awarded $1 million in follow-on funding during the accelerator’s third competition last fall. SunDensity plans to continue using its funding to scale up its manufacturing process in Rochester. The research collaboration with the University of Rochester is another proof point in the company’s commitment to locating operations and manufacturing in the Finger Lakes region, while building area partnerships and creating new jobs.
“Accelerating key partnerships with university laboratories in the region is a core part of our five-year growth plan. The agreement with University of Rochester is unique in that it enables students to get involved with a clean energy startup, as well as provides opportunities to support economic development,” said Dr. Nishikant ‘Nish’ Sonwalkar, SunDensity’s CEO. “The research agreement is another step forward in helping us to create a successful venture that will not only lead to local job growth and revenue impact, but also bring talent together in pursuit of furthering climate change in New York State and beyond.”
SunDensity produces Photonic Smart Coating for utility solar power producers that need to reduce the cost of energy. Its nano-optical coating improves solar output by 20% more than other coatings for solar panels, thus propelling solar energy adoption into the next generation of clean power.
“SunDensity’s transformative technology will help capture the energy of the sun, turning the same light into more electricity. The fundamental physics of converting a high-energy photon into more usable, lower-energy photons is almost as exciting as the impact on our quest for sustainable energy,” said P. Scott Carney, professor and director of The Institute of Optics. “The collaboration also benefits our researchers, adding new jobs and internship opportunities.”
Saving the planet while bringing revenue to New York State
SunDensity is on a fast development track. It established its research lab at NextCorps' incubation facility, has hired 8 employees, and is working with 8 glass vendors, 5 solar panel manufacturing companies, and AIM Photonics in the region on technical aspects of its technology. It hopes to achieve millions in sales revenue by the end of the year 2026. The company’s plan is to establish other manufacturing facilities across NY State and new partnerships globally to further its climate change goals.
“These types of collaborations with university, photonics and optics companies in Rochester, and state and federally funded facilities are very important for innovators to establish. Early-stage companies are always looking for expertise and human resources—that was a core reason we selected Rochester as it is the photonics capital of the world. The impact we can make with key industry players here, including the University of Rochester and Rochester Institute of Technology, puts us in a strong position to speed the commercialization of our coated glass panels on a large scale to meet the demands of utility solar power producers,” said Sonwalkar.
About SunDensitySunDensity is the creator of the groundbreaking Photonics Smart Coating (PSC™) technology that significantly enhances the efficiency of solar panels, increasing energy output and reducing the cost of clean energy production. The company’s mission is to save the planet from the impacts of climate change by enabling the widespread adoption of solar energy to reduce carbon emissions. SunDensity was named the top winner of the Luminate NY competition in September 2020, and received $1 million in investment from New York State through the Finger Lakes Forward Upstate Revitalization Initiative. To learn more, visit sundensity.net.
Media ContactShannon Wojcik[email protected]585-831-6267
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6d64e8ad-baa7-453c-9839-a88c54a36ef2
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Meriaura Group Oyj: Meriaura Group acquires a solar power systems provider Rasol
- dynaCERT Receives Over $2,900,000 of Subscriptions Towards the First Tranche of its Non-Brokered Private Placement
- Iveco Group joins the United Nations Global Compact
Create E-mail Alert Related CategoriesGlobe Newswire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!