NovaSolix

About NovaSolix

NovaSolix operates in the renewable energy sector, focusing on the development of a solar energy technology intended to surpass the limitations of conventional photovoltaic (PV) cells. Founded in 2015 by Larry Cooke and Bob Cousins, the company is headquartered in Newark, United States. Larry Cooke, the Founder and CTO, brings over four decades of experience in Electronic Design Automation and semiconductor technology and holds numerous U.S. patents. Co-founder Bob Cousins also has extensive experience with technology startups and was named the Silicon Valley Inventor of the Year in 2020. The leadership team includes CEO Richard Preston, who has a background in leading both software and hardware companies to profitability.

The core of NovaSolix's business is its proprietary solar antenna technology, also known as rectenna. This technology utilizes miniature carbon nanotube (CNT) antennas to convert a broader spectrum of light, from infrared to ultraviolet, into electricity. The company claims this method can achieve a theoretical efficiency of up to 90%, significantly higher than the ~25% efficiency of typical PV technology. The product consists of arrays of these carbon nanotube antennas, which are small enough to match the nanoscale wavelengths of sunlight, coupled with extremely fast diodes to rectify the captured energy. This process of converting electromagnetic waves into direct current is analogous to how RFID tags are powered.

NovaSolix's business model is centered on manufacturing these advanced solar panels. The company has stated its manufacturing process is designed for a high-volume, roll-to-roll system using materials like glass, aluminum, copper, and nickel, which could potentially reduce production costs by 80-90% compared to traditional PV systems. The company generates revenue by selling its solar energy solutions. Initial target markets include applications where high efficiency and low weight are critical, such as drones, satellites, and fixed-wing aircraft. In the long term, NovaSolix aims to displace conventional PV panels as the primary source of solar power. The company has secured funding through several rounds, including a Seed Round in December 2020 and a Series B round.