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Intel Moves into Clean Tech With Solar Cell Spinoff

SpectraWatt joins IBM, HP entries, part of a larger trend in IT industry
By Laila Weir,  Newser Staff
Posted Jun 17, 2008 4:31 PM CDT
Intel Moves into Clean Tech With Solar Cell Spinoff
SpectraWatt expects to break ground on its first plant in about two months.   (spectrawatt.com)

(Newser) – Intel made a move into clean technology yesterday, creating a spinoff that will manufacture solar cells and pumping $50 million into it. SpectraWatt’s focus will be on improving solar-cell efficiency and cutting costs per watt, its CEO told CNet. IT companies are increasingly getting into the solar industry. Both IBM and HP recently began such endeavors.

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"Almost every company in the electronics and semiconductor industry is going to try to figure out how to get into solar—it's going to be that big of an industry," one solar expert predicted. An Intel exec said the company is seeking clean technology opportunities. "This is an important investment for Intel Capital in the growing clean-tech sector,” he said. (Read more Intel stories.)

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