NanoFlex Power

What NanoFlex Power does

NanoFlex Power Corporation is a publicly traded (OTCQB: OPVS) solar technology developer that commercializes two proprietary thin-film photovoltaic platforms: (1) Organic Photovoltaic (OPV) cells built from small-molecule organic semiconductors that can be spray-coated or roll-to-roll deposited onto flexible substrates in tunable colors and transparencies, and (2) ultra-high-efficiency Gallium Arsenide (GaAs) cells fabricated via a patented Non-Destructive Epitaxial Lift-Off (ND-ELO) process that enables wafer substrate reuse and reduces compound semiconductor production costs by more than 40%. The company does not manufacture or sell finished products; instead, it licenses these technologies to OEMs and participates in government-funded research consortia. Its commercial license with SolAero Technologies covers ND-ELO-enabled space solar cells, generating running royalties, and a Joint Development Agreement with True Metal Solutions targets building-integrated photovoltaic (BIPV) facades.

The company monetizes primarily through three revenue streams: non-exclusive technology licensing with running royalties (exemplified by the SolAero agreement signed February 2017), government contract research funding as a consortium subcontractor (most notably the $6.5 million Army Research Office contract awarded June 2017 through the U.S. Army ManTech Program), and sponsored development agreements with enterprise customers funding application-specific work. End markets served include military and defense (portable soldier power, UAVs), aerospace (satellite solar cells), building-integrated photovoltaics, IoT sensors, consumer mobile devices, and utility-scale solar. The company maintains exclusive worldwide license rights to a portfolio of more than 750 issued and pending patents developed through long-standing sponsored research partnerships with Princeton University, the University of Southern California, and the University of Michigan.

Operationally, NanoFlex runs lean with 1-10 employees across a Scottsdale, Arizona headquarters and an engineering/R&D center in Ann Arbor, Michigan. Its GTM motion is enterprise field sales plus consortium-led government contracting, with technology licensing as the primary commercial lever. The company is led by long-tenured executives including CEO Dean L. Ledger (senior executive since inception, with prior roles at Universal Display Corporation and InterDigital) and CTO J. Norman Allen, with research leadership historically anchored by Professors Stephen Forrest (University of Michigan) and Mark Thompson (USC), who previously commercialized OLED technology. Recent restructuring actions — including temporary suspension of OPV sponsored research, a greater-than-40% reduction in patent expenses, engineering realignment toward commercialization, and G&A cuts — indicate the company is operating under capital discipline while pursuing commercialization milestones.

Name

NanoFlex Power

Legal name

NanoFlex Power Corporation

Website

https://nanoflexpower.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

NanoFlex Power Corporation is a publicly traded (OTCQB: OPVS) solar technology licensor that develops flexible Organic Photovoltaic (OPV) thin films and cost-reduced Gallium Arsenide cells via its patented ND-ELO process, targeting military, aerospace, BIPV, and IoT applications through licensing, government contracts, and joint development agreements.

Ownership category

akta.pro rank

Product category

Thin-Film Solar Photovoltaic Technology

NAICS

Semiconductor and Related Device Manufacturing (334413), Research and Development in Nanotechnology (541713)

SIC

Semiconductors & Related Devices (3674)

akta.pro primary industry

Next-Gen Photovoltaics R&D (Perovskite, Tandem, Organic, BIPV Materials) (EUAMAOAA)

akta.pro secondary industries

Solar PV Module & Cell Manufacturing (Crystalline, Thin-Film) (EUAMAHAA), Materials, Coatings & Manufacturing Process Innovation (Lightweight Composites, Additive, Automation, Reliability) (EUAMAOAH)

Keywords

• Organic photovoltaic technology
• Thin-film solar cells
• Gallium arsenide fabrication
• Building integrated photovoltaics
• Flexible solar modules

Headquarters

HQ city

Scottsdale

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Others

Revenue model

1. Technology Licensing Royalties: NanoFlex Power generates revenue through non-exclusive commercial license agreements with manufacturers. The company receives running royalties associated with solar cells fabricated using its licensed ND-ELO technology, as exemplified by the SolAero Technologies agreement for space solar cells.
2. Government Contract Research Funding: As part of consortiums awarded government contracts, NanoFlex participates as subcontractor receiving funding for product and process development aligned with its commercialization strategy. Examples include the $6.5M Army Research Office contract (awarded to SolAero with NanoFlex as subcontractor) and DOE SunShot Initiative grants channeled through university research partners.
3. Sponsored Development Agreements: Revenue from advanced discussions and agreements with potential customers for sponsored development opportunities, where customers fund specific product development using NanoFlex's technologies.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

NanoFlex Power develops and licenses two core photovoltaic technology platforms: (1) Organic Photovoltaic (OPV) thin-film technology using small-molecule organic semiconductors for ultra-lightweight, flexible, semi-transparent, color-tunable solar films produced via room-temperature spray and roll-to-roll processes, and (2) Low-Cost Gallium Arsenide (GaAs) fabrication enabled by the patented Non-Destructive Epitaxial Lift-Off (ND-ELO) wafer-reuse process, delivering ultra-high-efficiency (>30%, up to 40%+ measured by NREL) compound semiconductor solar cells. The company monetizes these platforms through technology licensing, royalties, sponsored development agreements, and government research contracts.

Product overview

NanoFlex Power Corporation offers a portfolio of advanced thin-film solar technology products organized around two core technology platforms — Organic Photovoltaic (OPV) and Low-Cost Gallium Arsenide (GaAs) fabrication — which serve multiple application verticals including Building Integrated Photovoltaics (BIPV), Mobile Solar Applications, Internet of Things (IoT) specialty devices, Rooftop Solar, Utility Scale Solar, and Automotive Solar. The OPV technology platform is the primary product, delivering ultra-thin, flexible, lightweight, and semi-transparent solar cells at low cost via room-temperature application methods compatible with roll-to-roll manufacturing. The GaAs platform, enabled by the proprietary non-destructive epitaxial lift-off (ND-ELO) process, provides ultra-high-efficiency power conversion for space, aerospace, military, and terrestrial applications. Both platforms are backed by an extensive intellectual property portfolio of 200+ patents licensed exclusively to NanoFlex from research partnerships with Princeton University, the University of Southern California, and the University of Michigan.

Differentiator

Problem solved

Functional benefit

Products and services

• Organic Photovoltaic (OPV) Technology Core OPV technology platform using small-molecule organic semiconductors to produce ultra-thin, lightweight, flexible, and semi-transparent thin-film solar cells available in various colors and transparencies, fabricated via room-temperature processes (spray, vapor phase deposition) compatible with roll-to-roll manufacturing. Licensed to manufacturers and integrators for use in BIPV, mobile electronics, IoT sensors, and consumer applications.
• Low-Cost Gallium Arsenide (GaAs) Fabrication via Non-Destructive Epitaxial Lift-Off (ND-ELO) Proprietary ND-ELO process that enables reuse of expensive GaAs wafer substrates after solar cell fabrication, reducing compound semiconductor production costs by more than 40% while producing lightweight, flexible thin-film GaAs solar cells with peak power conversion efficiency exceeding 40% (NREL-measured). Licensed to manufacturers for space, aerospace, military, and terrestrial high-efficiency applications.
• Building Integrated Photovoltaics (BIPV) Semi-transparent and tinted OPV thin-film photovoltaic material integrated into building envelopes including windows, facades, and cladding, enabling structures to generate electricity locally and progress toward net-zero energy consumption. Targeted at commercial building cladding integrators and architectural applications.
• Mobile Solar Applications Lightweight, flexible OPV photovoltaic solutions for portable and consumer mobile applications, including solar-powered enclosures for smartphones and mobile devices, tents, wearable solar, and other portable equipment.
• Internet of Things Specialty Applications Low-cost, efficient OPV cells designed to perpetually power connected IoT sensors and devices in both indoor and outdoor lighting conditions without regular battery maintenance, targeting low-power wireless devices and self-powered sensor networks.
• Rooftop Solar Flexible, higher-efficiency solar technology solutions targeting residential and commercial rooftop installations with lower installation costs, improved aesthetics, and design flexibility compared to conventional rigid silicon panels.
• Utility Scale Solar High-efficiency GaAs-based photovoltaics targeting large solar farms, leveraging over 40% peak power conversion efficiency measured by the National Renewable Energy Laboratory, combined with low-cost deployment enabled by ND-ELO wafer reuse for competitive utility-scale power generation.
• Automotive Solar Flexible thin-film solar coatings designed to be applied directly to vehicle surfaces, enabling car paint and exteriors to function as a source of solar power generation.

Quantifiable outcome

• ND-ELO technology reduces compound semiconductor production costs by more than 40%
• +4 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core.

• True Metal SolutionscoreStrategic or Co-development Partner · 10 January 2020NanoFlex Power entered a Joint Development Agreement with True Metal Solutions, a building cladding fabricator and installer, to integrate organic photovoltaic (OPV) thin film material with cladding for building facades. The partnership builds on prior success securing a DOE research contract for integrated OPV building facade panels and progressing toward a building demonstration project. True Metal Solutions brings technical expertise in architectural building products and commercial construction market prowess; NanoFlex provides OPV intellectual property from University of Michigan, USC, and Princeton.
• Army Research Office (U.S. Army RDECOM)coreOthers · 19 June 2017NanoFlex Power participated as a subcontractor in a consortium awarded a $6.5 million contract from the Army Research Laboratory's Army Research Office. The four-year program aims to develop high power, flexible, lightweight solar modules with more than double the power of current Army solar modules within the same footprint at competitive cost per watt. Consortium led by SolAero with NanoFlex, University of Michigan, and University of Wisconsin as subcontractors, under the U.S. Army Manufacturing Technology (ManTech) Program.
• SolAero TechnologiescoreOEM/ Whitelabel/ Licensing Partner · 7 February 2017NanoFlex Power signed its first commercial license agreement with SolAero Technologies, a global leader in high efficiency solar cells for space and terrestrial applications. The non-exclusive agreement enables joint commercialization of NanoFlex's patented Non-Destructive Epitaxial Lift-Off (ND-ELO) process and related technologies. NanoFlex received up-front development funding and receives running royalties for space solar cells fabricated using the licensed technology. SolAero validated the ND-ELO process over two years prior to the agreement.
• University of Michigan (SunShot Next Gen PV3)coreTechnology or Integration · 10 November 2014NanoFlex's research partner at University of Michigan was awarded a $1.35 million cooperative agreement under the U.S. DOE SunShot Initiative Next Generation Photovoltaics 3 program. This was the only project awarded for organic photovoltaic R&D under this program. Project goals include demonstrating reliable, large area, high-efficiency organic multi-junction cells with power conversion efficiency exceeding 18% and cell lifetimes exceeding 20 years. NanoFlex holds exclusive commercial license rights to resulting IP.
• University of Michigan (SunShot Next Gen PV2)coreTechnology or Integration · 22 September 2011Dr. Stephen Forrest, NanoFlex's research partner and Vice President for Research at University of Michigan, secured a $1.5 million grant from the U.S. DOE SunShot Initiative under the 'Transformational PV Science and Technology: Next Generation Photovoltaics II' category. This followed completion of the prior 'Next Generation Photovoltaics I' program. Research focused on next generation organic solar cell technology using NanoFlex's proprietary small-molecule systems in stacked architecture for high efficiency, high reliability, and low-cost scalable production.
• University of Southern CaliforniacoreTechnology or Integration · 1 May 2009NanoFlex Power signed an agreement extending its sponsored research partnership with USC under the guidance of Professor Mark E. Thompson. This continued the productive 15-year partnership. Inventions derived from the research program continue to be licensed exclusively to NanoFlex. The extension focused on photonic energy conversion technologies and extending NanoFlex's lead in organic solar cells.
• University of MichigancoreTechnology or Integration · 1 May 2009NanoFlex Power extended its sponsored research partnership with the University of Michigan under Dr. Stephen R. Forrest, continuing the productive 15-year collaboration. Inventions from the research continue to be licensed exclusively to NanoFlex, supporting the company's photonic energy conversion technology development.

Scale indicators9 records

Expansion highlights5 records

Direct peers

• SolAero Technologies: SolAero is a leading manufacturer of high-efficiency GaAs solar cells for space and terrestrial applications and is NanoFlex's first commercial licensee. It directly validates the ND-ELO technology by integrating it into production and represents both a partner and benchmark for high-efficiency compound semiconductor solar.
• Alta Devices (Hanwha Q Cells): Alta Devices pioneered flexible, high-efficiency GaAs solar cells using epitaxial lift-off processes and is now part of Hanwha. It is the most direct technical comparable to NanoFlex's GaAs platform, competing on efficiency and flexible form factor in aerospace, military, and consumer applications.
• Heliatek: Heliatek is a leading OPV company developing small-molecule organic solar films for building-integrated and infrastructure applications. It is one of the closest direct competitors to NanoFlex in the OPV/BIPV space, with similar focus on semi-transparent flexible films for building envelopes.

Broad incumbents

• First Solar: First Solar is the dominant thin-film (CdTe) PV manufacturer at utility scale. As an incumbent thin-film solar player, it competes broadly for market share and government incentives in the same solar category where NanoFlex seeks to license OPV and GaAs technologies.
• Spectrolab (Boeing): Spectrolab, a Boeing subsidiary, is the world's leading supplier of high-efficiency multi-junction space solar cells. As the dominant incumbent in space solar, it represents both a customer/competitor dynamic with NanoFlex's licensee SolAero and a benchmark for the efficiency class NanoFlex's ND-ELO technology targets.

Emerging players

• Oxford PV: Oxford PV is commercializing perovskite-on-silicon tandem solar cells with the highest certified cell efficiencies. It competes for next-generation PV mindshare, capital, and BIPV opportunities against NanoFlex's OPV platform, representing a faster-progressing alternative technology path.
• SolarWindow Technologies: SolarWindow is developing electricity-generating coatings for commercial glass windows using organic and transparent PV approaches. It competes with NanoFlex's BIPV/window OPV platform for building-integrated transparent solar applications.
• MicroLink Devices: MicroLink Devices manufactures lightweight, flexible GaAs-based multijunction solar cells for aerospace, defense, and UAV applications using ELO processes. It is a direct technical comparable in the lightweight GaAs space solar and defense categories NanoFlex targets.
• ARMOR solar power films: ARMOR is an established OPV film manufacturer producing flexible organic solar films for BIPV and IoT applications. It is a direct OPV product competitor to NanoFlex in the building-integrated and specialty solar film market.
• Ubiquitous Energy: Ubiquitous Energy develops transparent OPV coatings for windows and building-integrated applications. It is a direct emerging competitor to NanoFlex's BIPV semi-transparent OPV films, targeting the same architectural glass and net-zero building opportunity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds4 records

Investors1 record

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M&A

Investments

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Frequently asked questions about NanoFlex Power