PALO ALTO, Calif., Aug. 18 /PRNewswire/ -- Nanosys, Inc. today announced that the United States Defense Advanced Research Projects Agency (DARPA) has awarded a contract to Nanosys and its collaborators to support the development of flexible low cost solar cells. The award has a potential value of approximately $14 million over a five-year period. The initial 12-month Phase 1 of the program will include up to $2.2 million of funding to Nanosys and its collaborators. Additional phases of development will be funded based upon the approval of DARPA. The approved program will focus on the development of nanotechnology based high efficiency flexible solar cells that are light-weight and low-cost to provide power generation solutions for military applications. Nanosys will manage the contract and will collaborate with research and development partners including: the University of California at Berkeley, Battelle Memorial Institute, and SAIC. "Nanosys and its partners are extremely pleased to have the opportunity to work with DARPA on this important program," said Calvin Chow, Nanosys' Chief Executive Officer. "This program will assist us in developing solar cells with potential breakthrough cost and performance advantages that could have a major impact on how energy is generated and the energy landscape in general." "The U.S. Department of Defense requires flexible, reduced weight power solutions for applications ranging from dismounted combatants on earth to high altitude airships and spacecraft," said Darrel Hopper, Principal Electronics Engineer at the Air Force Research Laboratory, who is DARPA's Agent and Program Manager for the Nanosys effort. "The Nanosys shaped-nanocrystal nanocomposite approach to flexible organic photovoltaic cells is extraordinarily creative and has the potential to provide the revolutionary renewable power technology sought by DARPA." DARPA is the central research and development organization for the U.S. Department of Defense. It manages and directs selected basic and applied research and development projects and pursues research and technology where success may provide dramatic advances for traditional military roles and missions. About Nanosys Nanosys, Inc. is a leader in the development of nanotechnology based products utilizing inorganic nanostructures. Nanosys has built one of the broadest technology platforms in the industry with more than 250 patents and patent applications covering fundamental areas of nanotechnology. Based in Palo Alto, Calif. and privately held, Nanosys collaborates with industry leaders including Dupont, Intel, Matsushita Electric Works and SAIC to develop revolutionary high-value, high-performance products for computing, optoelectronics, communications, energy, defense and the life and physical sciences. Contact Peter Garcia Chief Financial Officer Nanosys, Inc. (650) 331-2154 firstname.lastname@example.org
SOURCE Nanosys, Inc.