News
UCF Technology Fuels Solar Panel Expansion
By Barb Abney Nov. 8, 2007
A company that recently expanded next to the University of Central Florida's main campus is using UCF technology to simplify the design and reduce the costs of installing solar power.
Petra Solar, now headquartered in Somerset, N.J., received $14 million in venture capital funding in April for product development and global market expansion. As part of that expansion, the company opened an office in the University Tower building near UCF in August.
Issa Batarseh, a professor of Electrical Engineering and Computer Science at UCF, developed innovative power electronics that will enable the conversion process needed to make the energy collected in solar panels compatible with domestic electricity grids. Traditional electric solar power systems are expensive to install and operate and require a specialized set of technical skills, Petra Solar electronics will enable simpler installation, at a reduced cost, and require less sophisticated skill sets to operate and maintain. They are also designed to operate more reliably than traditional systems.
"Petra Solar is addressing major challenges in the solar industry, and by leveraging our inventions, it is providing innovative designs that will provide users with sustainable, renewable and affordable solar energy through modular design of photovoltaic systems." Batarseh said.
Batarseh credits a team of his students with much of the work that led to the new technology. He said he is confident that Petra Solar will continue to be engaged in long-term research and educational collaboration with UCF.
Petra Solar licensed the technology from UCF and plans to capitalize on the funds it raised to accelerate cost reductions for solar electric systems. The company's long-term goal is to enable solar electric systems to work interchangeably with existing electric grids sooner than currently forecasted.
"We are really excited about the importance and the size of the opportunity that Petra Solar's products are addressing," said David Lincoln, the managing partner of Element Partners, one of the venture firms funding the expansion. "Petra Solar's innovative products enable modular and scalable photovoltaic systems. Such systems have higher efficiency, better reliability and lower costs of delivered power, in addition to easier maintenance."
Shihab Kuran, president and CEO of Petra Solar, said the talent and technologies from UCF are contributing to the success of Petra Solar.
"UCF has taken a lead role, not just in developing an enabling technology, but also in helping us commercialize it," Kuran said. "Dr. Batarseh, along with his colleagues and students, has done excellent research and development work that is at the core of Petra Solar's innovative products."
Petra Solar has hired several UCF graduates and plans to increase its collaboration with the university.
UCF Stands for Opportunity: Established in 1963, the University of Central Florida is a diverse metropolitan research university that ranks as the 6th-largest in the country with more than 48,000 students. Located in Orlando, Fla., UCF offers high-quality undergraduate and graduate education, student development and continuing education, while conducting cutting-edge research that powers the region's economic development. For more UCF news, visit http://news.ucf.edu.
About Petra Solar, Inc.
Petra Solar designs and manufactures innovative utility grade SunWave™ solar energy solutions that allow utilities to deploy significant solar generation faster, utilizing existing assets and time tested deployment strategies. Petra Solar's products are backed by a strong and exclusive IP portfolio of over 15 granted and pending patents. Please visit www.petrasolar.com for more information.