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SpectraWatt Inc. announced that it plans to establish the company's first factory and its new headquarters at the Hudson Valley Research Park in Hopewell Junction, New York. The move would create more than 100 jobs in the region within the first year of operation.
"We look forward to building a successful future from our new home in the Empire State."
-- Andrew Wilson, CEO, SpectraWatt
The company, which is in the process of moving from their previous location in Oregon, plans to begin production early in 2010. SpectraWatt’s first factory line will have an initial manufacturing capacity of 60 megawatts (MW). Additional lines are already being planned with site capacity exceeding 120 MW within the first two years of operation.
“Between the skilled work force, outstanding support from the Empire State Development Corporation and the valuable programs offered by the New York State Energy Research and Development Authority, the decision to locate in New York was very easy for us,” said Andrew Wilson, CEO of SpectraWatt. “We look forward to building a successful future from our new home in the Empire State.”
In June of 2008, Intel Corporation announceed that it was starting SpectraWatt by spinning off key assets for the start-up business effort through Intel's New Business Initiatives. Intel Capital, Intel's global investment organization, led a US $50 million investment round in SpectraWatt.
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