Driving Solar Innovation: An Interview with SunDensity’s CEO on the QD Solar Acquisition and Future Plans

SunDensity is making significant strides in solar energy landscape with its recent acquisition of QD Solar and the formation of SunDensity Canada. This strategic move marks a pivotal step in SunDensity’s journey towards becoming a global leader in solar efficiency solutions. In an exclusive interview, Mr. Schek, CEO of SunDensity, sheds light on the implications of this acquisition, the integration of cutting-edge technologies, and the company’s vision for the future. He also shares insights into the key innovations driving their mission, the challenges they’ve faced, and advice for aspiring entrepreneurs in the renewable energy sector.

Mr. Schek, could you start by telling us about the recent acquisition of QD Solar and the formation of SunDensity Canada? How does this move align with SunDensity’s strategic vision?

Certainly. The recent acquisition of QD Solar and the establishment of SunDensity Canada are pivotal steps in our journey towards becoming a global leader in solar efficiency solutions. By bringing QD Solar into our fold, we are leveraging their cutting-edge perovskite-based photovoltaic technology, which perfectly complements our Photonic Smart Coatings (PSC). This synergy not only opens new avenues to create technology and products but also accelerates both R&D efforts. Our strategic vision has always been to push the boundaries of solar efficiency, and this move significantly advances that goal by integrating advanced materials and innovative processes from both companies.

You’ve mentioned the complementary technologies of SunDensity and QD Solar. Can you elaborate on how the integration of QD Solar’s perovskite technology with SunDensity’s Photonic Smart Coatings will push the boundaries of solar efficiency?

Absolutely. This integration allows us to harness both active and passive approaches to improving silicon solar panels as well as creating a platform to eliminate silicon altogether further into the future. QD Solar’s perovskite technology involves adding a perovskite layer in tandem with a silicon PV cell, which actively enhances the conversion of sunlight into electrical energy. On the other hand, our Photonic Smart Coatings (PSC) passively optimize the spectrum of incident sunlight to make it more efficiently absorbed by solar panels. By integrating these technologies, we expand the toolbox of methods available to achieve a module efficiency of over 40%, a significant leap from current standards.

Looking ahead, what are some of the key innovations or projects that SunDensity is prioritizing? How do these innovations contribute to the global solar energy landscape?

Our priority is the further development of perovskite photovoltaics using photonic smart coatings to enhance performance and durability. With single junction silicon solar panels approaching their theoretical efficiency limit, the solar market is hungry for the next big step up. We believe that perovskites-silicon tandem multi-junction cells is the path to this next leap. These innovations not only improve the efficiency and cost-effectiveness of solar energy systems but also contribute to the global transition towards renewable energy by making solar power more accessible and sustainable.

With the expansion into Canada and the acquisition of a significant player like QD Solar, what are SunDensity’s next steps towards global expansion? Are there other markets or regions you are looking into?

Solar is a global industry. We monitor and track companies and research institutions all over the world. Changes in the geopolitical situation and tariffs can quite easily cause us to overhaul our strategy. Following our expansion into Canada, we will continue to develop strategic relationships with partners around the world with complimentary strategies and technology. We firmly believe in the leverage that can be generated from a great partnership, like the one that led to the acquisition of QD.

SunDensity is known for its commitment to sustainability through advanced solar technologies. How do you see your technologies impacting the broader goal of reducing global reliance on fossil fuels?

Our technologies are designed to significantly enhance the efficiency and affordability of solar energy systems, thereby accelerating their adoption. By improving solar panel performance and reducing costs, we make renewable energy more competitive with fossil fuels. This contributes directly to reducing global reliance on fossil fuels and lowering carbon emissions. As more solar energy systems are deployed worldwide, the shift towards a sustainable energy future becomes more attainable.

As CEO, how do you foster a culture of innovation and collaboration at SunDensity, especially now as you integrate teams from different backgrounds and expertise?

Fostering a culture of innovation and collaboration is a top priority for me. We encourage open communication and idea-sharing across all levels of the organization; our org structure is intentionally pretty “flat” to encourage productive interaction. Integrating teams from diverse backgrounds is a challenge and opportunity. The effort necessary to do it well is almost always paid back many-fold. In this case, our long partnership with QD prior to the acquisition gave us a head start on the integration and confidence that it would be well worth it.

SunDensity has received significant recognition in the industry, including awards from Luminate NY. How do these accolades influence your company’s strategy and market positioning?

Receiving recognition from prestigious organizations like Luminate NY validates our efforts and bolsters our credibility in the industry. These accolades enhance our market positioning by highlighting our innovative capabilities and commitment to excellence. In this case, both QD was also a Luminate company which facilitated our introduction and partnership. They also attract potential investors, partners, and customers who are keen on collaborating with a recognized leader in solar technology. Furthermore, these awards inspire our team to continue pushing the boundaries of innovation and strive for even greater achievements.

What have been some of the biggest challenges SunDensity has faced on its journey so far, and what key lessons have you learned from them?

One of the biggest challenges we have faced is navigating the rapidly evolving landscape of solar technology while maintaining a clear focus on our strategic goals. Market fluctuations, technological advancements, and the geopolitical situation require us to be agile and adaptable. In this industry, a strategy entirely reliant on the tariff landscape three years from today is very dangerous. Strategy has to be built with contingencies without losing focus on the essential. Overall, perseverance, adaptability, and a commitment to innovation have been key lessons from our journey.

Finally, what advice would you give to aspiring entrepreneurs looking to make a difference in the renewable energy sector?

For aspiring entrepreneurs in the renewable energy sector, I would advise focusing on innovation and sustainability. Understand that being “green” on its own isn’t enough and you have to drive value and be able to extract a profit for the value you generate. Think about this early and often. Build a strong network of mentors, partners, and advisors who can provide guidance and support—no one can succeed on their own as the renewable market matures. Find the balance between commitment to a vision and the necessary flexibility to adjust. It is critical to continually reevaluate the assumptions underpinning your strategy and direction. Lastly, always prioritize impact, as the goal is to contribute to a cleaner, greener future for all.

Key Points from the Interview

• Strategic Acquisition: SunDensity’s acquisition of QD Solar and formation of SunDensity Canada align with their goal of becoming a global leader in solar efficiency.
• Technology Integration: Combining QD Solar’s perovskite technology with SunDensity’s Photonic Smart Coatings aims to achieve over 40% module efficiency.
• Innovations and Projects: Focus on perovskite photovoltaics and multi-junction cells to surpass the efficiency limits of silicon solar panels.
• Global Expansion: Ongoing development of strategic global partnerships to leverage complementary technologies.
• Sustainability Impact: Enhanced solar technologies aim to reduce reliance on fossil fuels and lower carbon emissions.
• Culture of Innovation: Emphasis on open communication, collaboration, and integration of diverse teams to foster innovation.
• Industry Recognition: Awards and accolades enhance market positioning, attract investors, and inspire further innovation.
• Challenges and Lessons: Adaptability, perseverance, and strategic focus are crucial in navigating the evolving solar technology landscape.
• Advice for Entrepreneurs: Focus on innovation, sustainability, and building strong networks, while balancing vision with flexibility. Prioritize impactful contributions to a sustainable future.

About SunDensity

SunDensity is at the forefront of solar technology innovation, driving leading-edge research and development at its state-of-the-art facilities located in Rochester, New York, and Toronto, Canada. The company is dedicated to developing proprietary technologies utilizing advanced photonics to enhance the potential of sunlight for various benefits, including clean, renewable solar power and optical instrumentation. Their Low-E Solar Control solutions also efficiently limit detrimental impacts such as heat gain in homes and buildings, thereby reducing energy demand for environmental control.

The company’s commitment to excellence and innovation has earned it significant recognition in the industry. SunDensity was honored with the ‘Company of the Year‘ and ‘Innovator of the Year‘ awards at Luminate NY 2020. Additionally, the company received a $1 million investment from New York State through the Finger Lakes Forward Upstate Revitalization Initiative, administered by NextCorps. As SunDensity continues to expand, it remains focused on enriching its workforce, expanding its facilities, and enhancing its processes to drive future growth and innovation in the solar energy sector.