Name Allen Barnett | Role Electrical engineer | |
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Education Carnegie Mellon University, University of Illinois at Urbana–Champaign | ||
Unsw spree 201111 01 allen barnett australian u s pv research at unsw
Allen M. Barnett was a research professor of electrical engineering at the University of Delaware. He was the principal investigator of the DARPA-funded Consortium for Very High Efficiency Solar cells.
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Barnett graduated from the University of Illinois at Urbana–Champaign in 1963 and earned his doctorate in electrical engineering from Carnegie Mellon University in 1966.
Barnett founded the PV solar module manufacturing company, Astropower, Inc. in the mid-1990s and quickly grew to become one of the first solar module manufacturing firms in America. Barnett had taken the company public after its originating incubation origins within the University of Delaware's main campus in Newark, Delaware.
Despite early on solid growth, AstroPower stunned analysts and investors with their second quarter 2002 results. Revenue was $20.4 million representing (1%) one percent sequential growth and $4.9 million below analyst estimates, sparking nine class action lawsuits. The Stanford Law School Securities Class Action Clearinghouse has the AstroPower, Inc. Company and Case Information. The lawsuits allege that AstroPower misrepresented its financial and business status between Feb 22, 2002, and August 1, 2002. In addition to AstroPower, Inc., CEO Allen Barnett, Ph.D., and CFO Thomas Stiner are named as individual defendants.
Astropower was finally sold to General Electric's GE Energy Division in final bankruptcy proceedings who, after holding the remains of the company for several years, sold the remains to Motech, a Taiwanese solar company.
See: https://www.sec.gov/litigation/complaints/2009/comp20938.pdf Also: http://guntherportfolio.blogspot.com/2006/08/astropower-decline-of-solar.html