First published in the Quoted Cleantech website, February 2011. Copyright Cleantech Investor 2011

PowerFilm Inc is building up its revenues and this helped the US-based thin flexible solar panels developer to reduce its loss in 2010. New customers are being won, while existing ones are buying more from PowerFilm.

AIM-quoted PowerFilm says that 2010 revenues will be around $10.2m, against $6.6m in 2009. The loss will be much less than the $1.9m reported in 2009.

Capital investment has made it possible for PowerFilm to produce its products at an acceptable yield thereby making the manufacturing process commercial. This is an important step in heading towards profitability.

PowerFilm has $18m in cash, with $8m of the cash covering anticipated property and equipment investment. There is $4.375m of debt to offset against that.

PowerFilm says that it will release its 2010 figures on 28 March.