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Miho Koike in her office in Tohoku University. |
Solar cell
makers in China, Taiwan, and Europe have bombarded Miho Koike with product
orders. Koike is the CEO of Material Concept, a small solar power development
company that is changing the way the world makes solar panels. Nestled away in
a Tohoku University research and business center, the company is so hidden and
focused on product it does not have a working website. Instead, it depends on
Tohoku University web space to broadcast news. Don’t worry – this is not a
fly-by-night Kickstarter campaign. The product is real, and it is selling.
Traditionally,
manufacturers use a gold paste to affix solar cells to the electrodes on solar
batteries and panels. Gold, being a valuable commodity, ends up accounting for
almost 25 percent of all production costs. Junichi Koike (no relation)
developed an alternative copper paste that Miho says is just 1/100th of the
cost.
Though the
breakthrough was twenty years in the making, with other researchers pursuing
the same goal, the real trick that Junichi pulled off is creating a slim
barrier to prevent the copper from being absorbed into the silicon used in
solar panels. The cost benefits of copper had been known but the material
caused silicon to degrade, making it a risky alternative.
This is
welcome news to overseas solar companies. Material Concept receives a lot of
attention from Europe because the European Union announced a switch over to the
bronze standard by 2018. Miho mentions that they are exploring tie-ups with
Chinese and Taiwanese manufacturers. The talks must be going well because she
is looking for new employees who can also speak Chinese.
Although
Japan’s government made a noisy but faltering push for more solar power, the
reality is that Material Concept’s clients are mostly outside of Japan. “In
Japan only three major companies – Sharp, Kyocera, and Mitsubishi – are
producing these solar cells,” she says.
A CEO that
almost never was
Junichi
might have cracked the scientific code but Miho is the engine pushing the
company forward. That said, she nearly missed the opportunity. For ten years
she lived in the US, studying and working. Though she expected to live there
for the rest of her life, family considerations led her to return to Japan. At
the time of her decision she had just received a notice that her application
for a permanent visa was approved.
Back in
Japan, she experienced reverse culture shock. “I didn’t want to leave my home.
That lasted for half a year,” she recalls. Soon enough, she picked herself up
and worked in a steady government job for the next 14 years. In that role, she
would sometimes interact with businesses that were launching out of
universities. When the opportunity came, in 2011, to coordinate business
planning and development for startups trying to launch out of top-ranked Tokyo
University, she took it.
Feeling a
strong desire to help the disaster-ravaged Tohoku area of Japan, she switched
her role when the opportunity to lead Material Concept arose in 2013. Now she’s
singularly focused on one company – Material Concept. With a deep roster of
domestic and international contacts, Miho is steering a company that could be
poised for a big breakout.
Local
investors agree. Earlier this year, it received series A funding of
approximately US$6 million from major names like Daiwa Securities and the
Innovation Network Corporation of Japan.
Editing by
Paul Bischoff and JT Quigley