Picasolar Adds Researcher, Looking For Additional Board Member
by February 2, 2015 12:00 am 98 views
Picasolar Inc., a solar startup company affiliated with the University of Arkansas, has hired a new researcher, and will soon be adding an additional board member.
CEO Douglas Hutchings said Larry Cousar joined the company Jan. 15. Cousar recently graduated with a master’s in electrical engineering from the UA, and will work toward his PhD while working for Picasolar.
Hutchings said he is vetting several candidates to join the company’s board, which currently includes Hutchings, chief technical officer Seth Shumate, Terry Tremwel (chairman) and former Arkansas Lt. Gov. Bill Halter.
When asked what a good fit would be for the board, Hutchings said he is searching for someone with a big picture view of the solar industry, with business development experience.
“Hopefully someone with a big Rolodex,” he joked.
Now with eight employees, Picasolar is also in the process of relocating its cramped offices at the Arkansas Research & Technology Park at the UA, from the GENESIS Technology Incubator to the Enterprise Center. Hutchings said he is hopeful the move will be complete before the company heads to the 22nd annual South by Southwest Interactive Festival scheduled March 13-17 in Austin, Texas.
Picasolar tied for first place in the Greentech division of the South by Southwest Eco Startup Showcase in October, which earned them a chance to return and pitch to the larger event in March.
“That should be really good exposure,” Hutchings said. “We will be outlining the financing needed for the next stage of growth [manufacturing] over the next month or so and then the work begins on how to piece the various financing components together.”
Picasolar is commercializing a technology developed internally at Silicon Solar Solutions, a UA-affiliated startup founded in 2008 by Shumate, Hutchings and Hafeez Mohammed. Silicon Solar Solutions owns the majority interest in Picasolar.
The technology, a hydrogen selective emitter, could improve the efficiency of solar cells by 15 percent, reducing the manufacturing cost per watt and making the panels more affordable for consumers.