DuPont (NYSE:DD) announced that it has acquired Innovalight, a company specializing in advanced silicon inks and process technologies that increase the efficiency of crystalline silicon solar cells. Financial terms of the acquisition were not disclosed.
DuPont anticipates that the acquisition will enable opportunities for greater efficiencies and future innovations, which could more quickly and effectively help address the market demand for higher-efficiency solar cell designs.
David B. Miller, President of DuPont Electronics & Communications said, "Innovalight has very exciting technology that improves cell efficiency and DuPont can help expedite its adoption. DuPont and Innovalight share a commitment to innovation in materials that have a common purpose - to make solar energy more efficient and more affordable."
EI Du Pont de Nemours (NYSE:DD) has a potential upside of 17.4% based on a current price of $54.42 and an average consensus analyst price target of $63.89.