We report on the design, fabrication and evaluation of InGaAs/InP TPV cells. The fabrication process was developed for single wafer laboratory processing of lattice matched In0.53Ga0.47As cells and subsequently adapted for batch processing in industry. The 1 × 1cm cells and 1mm diameter mesa structures were evaluated using Dark IV and the PVIV techniques. Of the batch (volume) processed 1 × 1 cm cells, the best measured efficiency under AM0 conditions (Si standard) was 10.9&percent; (batch efficiency was 10.4&percent;), with a short circuit current density (ISC) of 54.6 mA/cm2, open‐circuit voltage (VOC) of 363 mV and a fill factor (FF) of 74&percent;. Using an IR lamp, a current density of 1442.8 mA/cm2, open‐circuit voltage of 418.5 mV and a fill factor of 65.7&percent; were recorded. We also point out the salient design and fabrication features employed in realising the above quoted results, which we believe, are the first reported results from an industrial volume production. Problems associated with volume production are also discussed with solutions. © 2003 American Institute of Physics